FASB staff proposes taxonomy improvements

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Jul 16, 2018

On July 16, 2018, the staff of the Financial Accounting Standards Board (FASB) has issued pro­posed tax­on­omy im­prove­ments related to (1) Ac­count­ing Stan­dards Update (ASU) Nos. 2018-09, “Cod­i­fi­ca­tion Im­prove­ments,” and 2018-10, “Cod­i­fi­ca­tion Im­prove­ments to Topic 842, Leases,” and (2) the pro­posed ASU, “Up­dat­ing the De­f­i­n­i­tion of Col­lec­tions.”

Com­ments on the pro­posed tax­on­omy im­prove­ments related to Cod­i­fi­ca­tion im­prove­ments are due by August 14, 2018. Com­ments on the pro­posed tax­on­omy im­prove­ments related to Cod­i­fi­ca­tion im­prove­ments to ASC 842 are due by August 17, 2018. Com­ments on the pro­posed tax­on­omy im­prove­ments related to the de­f­i­n­i­tion of col­lec­tions are due by August 10, 2018.

 

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