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Items tagged with "US"

FASB proposes codification improvements and taxonomy guides

The Financial Accounting Standards Board (FASB) has released a proposed Accounting Standards Update (ASU) as part of its ongoing effort to enhance the FASB Accounting Standards Codification®. Published last week, the proposal aims to make targeted, incremental improvements to US Generally Accepted Accounting Principles (GAAP).

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SEC repeals crypto custody rule with SAB 122

The US Securities and Exchange Commission (SEC) has rescinded its controversial Staff Accounting Bulletin (SAB) 121, by way of SAB 122. Last week’s bulletin eliminates the previous requirement for banks and financial institutions to record customer crypto holdings as liabilities on their balance sheets.

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FASB invites feedback on future agenda priorities

The Financial Accounting Standards Board (FASB) is seeking stakeholder input on its future standard-setting agenda.

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FASB releases 2025 taxonomies for public use

The Financial Accounting Standards Board (FASB) has published the 2025 GAAP Financial Reporting Taxonomy (GRT), SEC Reporting Taxonomy (SRT), and GAAP Employee Benefit Plan Taxonomy (EBPT), alongside the 2025 DQC Rules Taxonomy (DQCRT) and GAAP Meta Model Relationships Taxonomy (MMT). Together, these are referred to as the “FASB Taxonomies.”

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California seeks input on corporate greenhouse gas and climate risk reporting

The California Air Resources Board (CARB) – the regulator responsible for protecting California’s public from the impact of air pollution and developing action on climate change – has issued a request for comment (RFC) to shape the implementation of two climate-related programmes.

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SEC finalises rule for key filings

The US Securities and Exchange Commission (SEC) has published its final rule mandating the use of structured data formats, including Inline XBRL and XML, for certain regulatory filings under the Securities Exchange Act of 1934.

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FERC releases draft 2025 taxonomies for comment

The Federal Energy Regulatory Commission (FERC) has published draft updates to its XBRL taxonomies, validation rules, and rendering files for public comment. These updates, slated for implementation as Version 2025-04-01, will support several key FERC forms, including Forms 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 60, and 714.

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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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FASB invites feedback on proposed 2025 GAAP taxonomy improvements

The Financial Accounting Standards Board (FASB) has released proposed updates for the 2025 GAAP Financial Reporting Taxonomy (GRT) Reference Project and the Meta Model Relationships Taxonomy, inviting public comment.

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FDTA fine-tuning? XBRL US calls for a data quality upgrade

In a recent response to the proposed Financial Data Transparency Act (FDTA) rule, XBRL US has called for enhancements to improve standardisation and reduce regulatory costs.

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