FASB proposes taxonomy implementation guides on leases and investment companies
The Financial Accounting Standards Board (FASB) has released two proposed Taxonomy Implementation Guides based on the 2024 GAAP Financial Reporting Taxonomy. Pending Securities and Exchange Commission (SEC) acceptance, the 2024 Taxonomy was made available in December 2023.
The first proposed guide focuses on “Leases under Topic 842” (File Reference Number 2024-100) and introduces a new example illustrating modeling for disclosures related to leases not yet commenced.
The second proposed guide, titled “Financial Services—Investment Companies (Including SEC S-X Schedules for Business Development Companies)” (File Reference Number 2024-150) features a new example showcasing modeling for the disclosure of financial support that an investment company is contractually obliged to provide to its investees but has not yet furnished.
Stakeholders can provide feedback on the proposed guides until 19 February. Email comments to xbrlguide@fasb.org and include the reference number.
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