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FASB releases 2018 U.S. GAAP and SEC taxonomies

  • FASB (US Financial Accounting Standards Board) Image

Dec 22, 2017

The FASB has released the 2018 U.S. GAAP Financial Reporting Taxonomy and 2018 SEC Reporting Taxonomy.

The 2018 version of the U.S. GAAP tax­on­omy “con­tains updates for ac­count­ing stan­dards and other im­prove­ments.” The 2018 SEC taxonomy “contains elements necessary to meet SEC requirements for financial schedules required by the SEC, condensed consolidating financial information for guarantors, and disclosures about oil- and gas-producing activities.”

Both tax­on­omies are subject to final SEC approval, which is expected to be granted in early 2018.

For more in­for­ma­tion, see the press release, U.S. GAAP tax­on­omy page, and SEC taxonomy page on the FASB’s Web site.

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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.