FASB proposes improvements for 2025 SEC reporting taxonomy
The Financial Accounting Standards Board (FASB) recently issued proposed technical and other conforming improvements for the 2025 SEC Reporting Taxonomy (SRT). This release, published for public comment, invites feedback on adjustments aimed at refining the taxonomy’s usability. The comment period closes on 5 November, offering stakeholders the chance to provide their input.
The proposed changes include the introduction of new elements, as well as updates to labels and references to improve the taxonomy’s effectiveness for GAAP filers. The improved labels and references reflect the evolving needs of the reporting community, fostering greater clarity and precision. Previous iterations of the taxonomy have undergone similar refinements, designed to maintain a high-quality, adaptable framework for digital reporting.
For more details, explore the full release notes and submit comments to xbrled@fasb.org before 5 November.
