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FASB releases 2019 U.S. GAAP and SEC taxonomies

  • FASB (US Financial Accounting Standards Board) Image

Dec 18, 2018

The FASB has released the 2019 U.S. GAAP Financial Reporting Taxonomy and 2019 SEC Reporting Taxonomy.

The 2019 version of the U.S. GAAP tax­on­omy “con­tains updates for ac­count­ing stan­dards and other recommended im­prove­ments.” The 2019 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 2019.

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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