FASB releases Financial Reporting Taxonomy 2013

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26 Dec 2012

The Financial Accounting Standards Board (FASB) has released the 2013 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 September 2012, 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.

Click for the press release (with a link to the taxonomy) on the FASB's website.

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