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FASB staff proposes improvements to U.S. GAAP Financial Reporting Taxonomy

  • FASB (US Financial Accounting Standards Board) Image

Oct 04, 2019

The FASB staff has proposed technical and other conforming improvements to the 2020 U.S. GAAP Financial Reporting Taxonomy.

The pro­posed improvements include the following:

  • “New elements to accommodate lease, revenue and banking regulation disclosures.”
  • “Deprecations for guidance that has been superseded.”
  • “Modified standard and documentation labels for maturity schedule elements and banking regulations.”
  • “Modified references related to elements for long-duration insurance.”

Com­ments on the pro­posed U.S. GAAP tax­on­omy im­prove­ments are due by No­vem­ber 2, 2019. For more in­for­ma­tion, see the release notes on the FASB’s Web site.

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Correction list for hyphenation

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