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FASB Issues Taxonomy Q&A Related to COVID-19 Pandemic and Relief Disclosures

  • FASB (US Financial Accounting Standards Board) (lt blue) Image

Jun 22, 2020

On June 22, 2020, the Fi­nan­cial Ac­count­ing Stan­dards Board (FASB) staff has issued a Q&A on the “application of the US GAAP Financial Reporting Taxonomy (Taxonomy) to disclosures related to the effects of the coronavirus (also referred to as COVID-19) pandemic and relief efforts.”

The Q&A focuses on disclosures related to:

  • Income taxes.
  • Payroll taxes.
  • Loans.
  • Grants.
  • Pensions.
  • Overall discussion of the COVID-19 pandemic.

For more information, see the press release on the FASB’s Web site.

Correction list for hyphenation

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