FASB staff issues two taxonomy implementation guides
Jun 13, 2018
In June 2018, the Financial Accounting Standards Board (FASB) staff issued two U.S. GAAP taxonomy implementation guides on (1) revenue from contracts with customers and (2) dimensional modeling for disclosures of consolidated and nonconsolidated entities.
The objective of the first implementation guide, Revenue From Contracts With Customers (Including Remodeling of Revenue and Cost of Revenue Presentation in the Statement of Income), is to “demonstrate the modeling for disclosures related to revenue from contracts with customers under [ASC 606] and the remodeling of revenue and cost of revenue presentation in the statement of income.”
The second implementation guide, Dimensional Modeling for Disclosures of Consolidated and Nonconsolidated Entities, provides examples “to help users of the Taxonomy understand how the modeling for disclosures of consolidated and nonconsolidated entities is structured within the Taxonomy.”
