In the US, the Financial Accounting Standards Board is seeking feedback on its proposed Accounting Standards Update (ASU) on ‘Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers’ – and specifically on attendant amendments to the US GAAP Financial Reporting Taxonomy.
With so much recent discussion of standards for Environmental, Social and Governance (ESG) disclosure, particularly sustainability metrics, it is interesting to revisit the example of one country that is forging ahead with mandatory reporting.
The XBRL Standards Board has approved publication of the Filing Indicator Taxonomy at Recommendation status. Filing indicators are used in filing environments to act like a signpost, allowing reports to declare which reporting tables have been completed.
Head over to the Taggings section of the XBRL International website for a guest post from Mohini Singh, ACA, Director of Financial Reporting Policy at CFA Institute and Treasurer of the XBRL International Board of Directors.
This is a guest post by Mohini Singh, ACA, Director of Financial Reporting Policy at CFA Institute. At a recent XBRL US Investor Forum I spoke on a panel on ‘Standards to Manage Investment Risk’ with Mike Willis of the Securities and Exchange Commission (SEC) and the Council of Institutional Investors’ Jeff Mahoney, moderated by […]
XBRL International has published a new tutorial showing how the new xBRL-CSV specification can be used to handle a variety of common reporting scenarios. The tutorial walks readers through the features of the specification, explaining how CSV tables can be used to efficiently represent reporting data, and is accompanied by a set of example xBRL-CSV reports.
The XBRL Standards Board has approved a further Candidate Recommendation of the Open Information Model (OIM) suite of specifications. This latest release is expected to be the last prior to progressing to Proposed Recommendation status.
Ukraine is gearing up for XBRL-based financial reporting for the first time in 2021. With a new, tailored taxonomy and data collection system in place, the country is looking forward to improved reporting and structured financial data in a single electronic format that will be comparable and compatible with EU and international standards.
In more implementation news, we bring you an update from Oman, where progress towards XBRL-based reporting is well advanced and a series of stakeholder meetings is set to offer valuable training, discussion and feedback.
In case you missed it (oops – we did!), in December the US Financial Accounting Standards Board (FASB) released its updated taxonomies for the coming year.
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