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FASB releases proposed 2017 financial reporting taxonomy for public comment

  • FASB (US Financial Accounting Standards Board) Image

Sep 01, 2016

The FASB has released for public comment its proposed 2017 U.S. GAAP financial reporting taxonomy, which “contains updates for accounting standards and other recommended improvements” and “is used by public issuers registered with the SEC.”

Com­ments on the pro­posed tax­on­omy are due by October 31, 2016. The final taxonomy is ex­pected to be approved by the SEC in early 2017.

For more in­for­ma­tion, see the press release and pro­posed tax­on­omy on the FASB’s Web site. The FASB is also holding a webcast on October 4, 2016, to discuss taxonomy-related issues.

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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.