Thursday, March 23. 2023
SEC Issues 2023 XBRL Taxonomies Update
On March 20, 2023, the SEC upgraded the EDGAR system to Release 23.1. The system now supports the 2023 reporting taxonomies. The SEC does not anticipate the removal of the 2021 versions of any taxonomies to occur before June 2023. For more information and a complete list of supported standard taxonomies, visit the Standard Taxonomies webpage on sec.gov.
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Posted by LeAnn Dey
in EDGAR News, FASB News, GoFiler Updates, IFRS Taxonomy, SEC, US GAAP Taxonomy
at
15:46
Tuesday, March 21. 2023
FASB to Host Webinar on 2023 GAAP/SRT and Enhancements to SEC Reporting Taxonomy
The Financial Accounting Standards Board (FASB) will host a webinar to discuss improvements made to both the 2023 GAAP Financial Reporting Taxonomy for recently published FASB Accounting Standards Updates and the 2023 SEC Reporting Taxonomy (SRT). The improvements made were based on the 2023 Taxonomy Releases, which included compiled feedback and internal analysis. The 90-minute webinar will take place on Tuesday, April 11, 2023 and will begin at 1:00 p.m. ET.
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Posted by LeAnn Dey
in Accounting, Data Quality Committee, Events, FASB News, SEC, SEC Filing Help, US GAAP Taxonomy
at
17:35
Friday, March 17. 2023
EDGAR Release 23.1
The SEC has announced that EDGAR 23.1 will occur on March 20, 2023.
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Tuesday, March 07. 2023
SEC Releases New Draft EDGAR Filer Manual for EDGAR 23.1
The SEC has announced that it has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 65). This draft Volume II of the EDGAR Filer Manual is accessible to filers in anticipation of feedback, and to help issuers prepare for potential modifications to the EDGAR system detailed in the draft and scheduled to be implemented in EDGAR Release 23.1 on March 20, 2023.
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Tuesday, February 21. 2023
FASB Proposes GAAP Taxonomy Reference Style Guide, Solicits Feedback
On February 15th, the Financial Accounting Standards Board (FASB) published a proposed GAAP Taxonomy Reference Style Guide and updated the GAAP Frequently Asked Questions (FAQ) section to include new guidance on tagging.
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Friday, January 13. 2023
XBRL US to Discuss Solutions to Common Issues in XBRL Preparation
XBRL US will be hosting a webinar to help corporate issuers who are faced with many choices working with the XBRL US GAAP Taxonomy when submitting financials to the SEC. The one-hour webinar will take place on Tuesday, February 7, 2023, and will begin at 3:00 p.m. ET. The event is free and open to the public, but registration is required. {expires: 2023-02-08}
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Thursday, December 22. 2022
SEC Publishes Draft 2023 Executive Compensation Disclosure (ECD) Taxonomy Guide
On December 19, 2022, the draft 2023 Executive Compensation Disclosure (ECD) taxonomy was updated to include the elements for tagging disclosures related to the SEC’s adopted amendments. Under these rules, registrants are required to tag certain disclosures in Inline eXtensible Business Reporting Language (iXBRL).
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Tuesday, December 20. 2022
SEC Issues Draft 2023 Executive Compensation Disclosure Taxonomy
On December 19, the SEC announced that it adopted amendments that require registrants to disclose information concerning: 1) insider trading policies and procedures of issuers; 2) adoption and termination (including modification) of plans that are intended to meet the rule’s conditions for establishing an affirmative defense, 3) certain similar trading arrangements by directors and officers, and 4) director and executive equity compensation awards made close in time to the issuer’s disclosure of material nonpublic information. For further information, see the Insider Trading Arrangements and Related Disclosures final rule on the SEC’s website. Note that, per the SEC’s adopted amendments, registrants now must tag certain disclosures in Inline eXtensible Business Reporting Language (iXBRL).
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Monday, December 12. 2022
SEC Offers Guidance on Tagging Income Statements Over Multiple Periods
On December 8th, the SEC’s Division of Economic and Risk Analysis announced that it has concluded an assessment of how filers are tagging line items on the income statement over multiple periods. The staff noted that a number of filers are using different elements when tagging the same reported line item on the income statement over multiple periods, though each of those tags are included in the taxonomy versions used in the filings. The staff’s findings also determined that some filers were using one element in a form, for example, Form 10-Q, while using another element for the same reported line item in a different form, such as Form 10-K.
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Thursday, December 08. 2022
FASB Staff Releases Proposed GAAP Taxonomy Enhancements for Proposed ASU Regarding Leases (Topic 842), Solicits Comment
On November 30th, the Financial Accounting Standards Board (FASB) released for comment the proposed GAAP taxonomy improvements for the proposed Accounting Standards Update (ASU), which is aimed at improving accounting guidance for lease arrangements between entities under common control.
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Monday, December 05. 2022
XBRL US Announces Webinar: DQC Rules for BDCs and Public Companies – Rule Set 20
The XBRL US Data Quality Committee (DQC) has announced that it published its 20th Rule Set, which is comprised of five proposed rules for corporate issuers and two proposed rules specific to business development companies (BDCs). DQC rules are freely accessible by US GAAP and IFRS issuers so they may better validate their filings and recognize potential errors. Referring to the DQC rules helps issuers prepare financial statements that are consistent and submitted to the SEC in high quality, Inline XBRL format.
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Posted by LeAnn Dey
in Data Quality Committee, Events, IFRS Taxonomy, US GAAP Taxonomy, XBRL
at
09:46
Friday, November 18. 2022
GASB Proposes Guidance to Help Stakeholders Apply its Pronouncements
On November 15th, the Governmental Accounting Standards Board (GASB) released proposed implementation guidance that uses a questions and answers format to clarify and expound on certain GASB pronouncements.
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Wednesday, November 16. 2022
FASB Issues Proposed Investment Companies Taxonomy Implementation Guide
On November 15th, the Financial Accounting Standards Board (FASB) released a proposed Taxonomy Implementation Guide. The Guide is premised on the proposed 2023 GAAP Financial Reporting Taxonomy, which is currently awaiting SEC acceptance and subject to change until the finalized version is published. The newly proposed Guide, Financial Services—Investment Companies (Including SEC S-X Schedules for Business Development Companies), is comprised of examples intended to help users of the taxonomy understand how the reporting framework for investment companies is structured within the taxonomy.
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Thursday, October 06. 2022
FASB Releases Proposed Technical and Other Improvements for 2023 GAAP Taxonomy
On October 5th, the FASB issued for a request for comment on proposed technical and other conforming improvements for the 2023 GAAP Financial Reporting Taxonomy. The comment period ends on November 3, 2022.
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Monday, September 12. 2022
FASB Releases Proposed 2023 DQCRT for Review and Comment
On September 6th, the Financial Accounting Standards Board (FASB) staff issued the Proposed 2023 DQC Rules Taxonomy (DQCRT) for the US GAAP and SEC reporting taxonomies. Individuals and organizations may review and comment on the modifications made to the proposed DQCRT until October 6, 2022.
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