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Items tagged with "Taxonomy"

2024 in review: taxonomies, AI and the central importance of structured data

Our review of 2024: three major sustainability taxonomies, AI’s move to centre stage, and why the big endeavours ahead make structured data essential.

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A world tour in news

A few highlights from across our global community this year include:

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FASB issues latest taxonomies

The US Financial Accounting Standards Board (FASB) has published the final 2025 GAAP Financial Reporting Taxonomy (GRT), the 2025 SEC Reporting Taxonomy (SRT), and the 2025 GAAP Employee Benefit Plan Taxonomy (EBPT), pending acceptance by the Securities and Exchange Commission (SEC).

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Why Structured Data and Definitions Vastly Outperform Unstructured PDFs in LLM Analysis

This article by XBRL International Guidance Manager Revathy Ramanan is based on her presentation at Data Amplified 2024. You can also watch the original video here. Large language models like ChatGPT are fascinating. They’re transforming how we understand and interact with data – and I’ve been particularly curious to explore how we can use LLMs […]

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ISSB finalises SASB standards taxonomy update, boosting climate and sustainability disclosures

This week, the International Sustainability Standards Board (ISSB) released its updates to the SASB Standards Taxonomy, integrating recent changes to address the evolving demands of climate and sustainability reporting.

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South Africa takes the lead on digital sustainability disclosures

Issuers in South Africa can now use the IFRS Sustainability Disclosure Taxonomy (also called the ISSB taxonomy) to report sustainability data digitally.

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FASB proposes 2025 taxonomy improvements

The US Financial Accounting Standards Board (FASB) has issued proposed technical improvements to the 2025 US GAAP Financial Reporting Taxonomy, inviting public feedback by 31 October 2024.

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FASB proposes taxonomy updates for hedge accounting and share-based considerations

The US Financial Accounting Standards Board (FASB) has issued proposed updates to the US GAAP Financial Reporting Taxonomy, inviting public comments on two key areas: hedge accounting improvements and clarifications to share-based consideration payable to a customer.

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XBRL Directions webinar dives into taxonomy versioning

On 26 September, we hosted our exclusive member-only webinar, XBRL Directions, focusing on the essentials of managing taxonomy versioning. This 30-minute session was packed with insights on version schemes, planning taxonomy releases, and implementing hot fixes. We also explored how to communicate taxonomy changes effectively to different stakeholders.

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News Item

FASB seeks comments on 2025 SEC reporting taxonomy improvements

The Financial Accounting Standards Board (FASB) has published proposed improvements to the 2025 SEC Reporting Taxonomy (SRT), inviting public comment. The proposed changes focus on refining and updating elements in response to evolving industry needs, particularly in the oil and gas sector.

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