GAAP

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FASB invites input on business combinations and software-related disclosures

The Financial Accounting Standards Board (FASB) is inviting stakeholders to provide feedback on proposed updates to the Generally Accepted Accounting Principles (GAAP) Taxonomy for two key areas: accounting for internal-use software and transactions involving variable interest entities (VIEs) in business combinations.

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FASB proposes improvements for 2025 SEC reporting taxonomy

By Editor

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.

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FASB staff proposes GAAP taxonomy improvements

By Editor

On 17 July, the Financial Accounting Standards Board (FASB) staff released proposed GAAP Taxonomy Improvements for Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606).

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SEC accepts 2024 GAAP and SEC reporting taxonomies

By Editor

The US Securities and Exchange Commission (SEC) has green-lit the 2024 GAAP Financial Reporting Taxonomy (GRT) and the 2024 SEC Reporting Taxonomy (SRT), collectively known as the “GAAP Taxonomy.”

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FASB proposes taxonomy implementation guides on leases and investment companies

By Editor

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.

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FASB seeks input on proposed GAAP taxonomy improvements

By Editor

The US Financial Accounting Standards Board (FASB) has released proposed GAAP Taxonomy Improvements for public comment.

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FASB unveils 2024 Taxonomies with Calc 1.1 integration

By Editor

The US Financial Accounting Standards Board (FASB) has launched the 2024 GAAP Financial Reporting Taxonomy (GRT). The new taxonomy integrates the Calculations 1.1 specification, which was finalised by XBRL International earlier this year. The FASB also published the new 2024 SEC Reporting Taxonomy and 2024 DQC Rules Taxonomy – collectively, the three are known as the […]

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FASB seeks input on financial statement location dimensions guide

By Editor

The US Financial Accounting Standards Board (FASB) has released a proposed Taxonomy Implementation Guide, ‘Financial Statement Location Dimensions: A Guide for Preparers.’ This guide is based on the forthcoming 2024 GAAP Financial Reporting Taxonomy, pending SEC acceptance.

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FASB staff proposes 2024 GAAP Taxonomy Reference Project enhancements

By Editor

The US Financial Accounting Standards Board (FASB) has released proposed enhancements for the 2024 GAAP Taxonomy Reference Project. These improvements are open for public comment under File Reference No. 2024-3000 until 16 November 2023.

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