FASB staff proposes taxonomy improvements and implementation guide
Aug 31, 2018
In August 2018, the Financial Accounting Standards Board (FASB) staff issued proposed improvements related to the U.S. GAAP Financial Reporting Taxonomy.
Specifically, the staff proposed taxonomy enhancements related to (1) Accounting Standards Update (ASU) No. 2018-13, Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement, and (2) the proposed ASU, Codification Improvements to Topic 326, Financial Instruments — Credit Losses. In addition, the staff has issued a proposed taxonomy implementation guide, Insurance, Long-Duration Contracts.
Comments on the proposed taxonomy improvements related to fair value measurement disclosures are due by September 27, 2018.
Comments on the proposed taxonomy improvements related to the proposed ASU on credit losses are due by September 19, 2018.
Comments on the proposed implementation guide are due by October 16, 2018.
