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FASB staff proposes taxonomy improvements and implementation guide

  • FASB document Image

Aug 31, 2018

The FASB staff has 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.

Correction list for hyphenation

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