FASB releases Financial Reporting Taxonomy 2014
18 Dec 2013
The Financial Accounting Standards Board (FASB) has released the 2014 US GAAP Financial Reporting Taxonomy, pending final acceptance by the US Securities and Exchange Commission (SEC). It contains accounting standards updates and other improvements to the official taxonomy, which is used by public issuers registered with the SEC.
The FASB issued proposed improvements to the taxonomy in August 2013, allowing users of the taxonomy to provide feedback on the updates and to provide SEC filers, service providers, software vendors, and other interested parties the opportunity to become familiar with and incorporate new element names for their filings.
For more information, the press release (with a link to the taxonomy) is available on the FASB's website.
