FASB releases 2015 US GAAP Financial Reporting Taxonomy
19 Dec 2014
The FASB has released the 2015 US GAAP Financial Reporting Taxonomy, which is pending SEC approval.
The taxonomy “is a list of computer-readable tags in XBRL that allows companies to tag precisely the thousands of pieces of financial data that are included in typical long-form financial statements and related footnote disclosures.” The 2015 version of the taxonomy “contains updates for accounting standards and other improvements to the 2014 Taxonomy currently used by SEC issuers.”
For more information, see the press release and taxonomy page on the FASB’s Web site.
