The Financial Accounting Standards Board ("FASB") proposed "technical and other conforming improvements" for the 2021 SEC Reporting Taxonomy (SRT). The proposed changes would (i) update certain standard and documentation labels and (ii) incorporate new elements from a recently-adopted rule concerning financial disclosures (see previous coverage).
Comments on the proposed changes must be submitted by November 2, 2020.
Primary Sources
- FASB Press Release: FASB Issues Proposed Changes for 2021 SEC Reporting Taxonomy
- FASB Report: Taxonomy Release Notes Proposed Technical and Other Conforming Improvements for the 2021 SEC Reporting Taxonomy
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
