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FASB issues proposed taxonomy implementation guide on offsetting assets and liabilities

  • FASB document Image

Feb 24, 2015

The FASB has issued a proposed U.S. GAAP financial reporting taxonomy (UGT) implementation guide to help entities apply the taxonomy’s modeling structure to XBRL disclosures about offsetting assets and liabilities.

The im­ple­men­ta­tion guide contains ex­am­ples illustrating four disclosure scenarios:

    1. Offsetting of financial assets and liabilities, disaggregation by type of instrument.
    2. Offsetting of financial assets, disaggregation by type of instrument and type of transaction.
    3. Offsetting of financial assets and liabilities, disaggregation by type of instrument, policy election not to offset.
    4. Offsetting of financial liabilities, including instruments not subject to master netting arrangement, alternative.

Com­ments on the UGT implementation guide are due by April 27, 2015. The guide is avail­able on the FASB’s Web site.

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.