Tuesday, August 06. 2024

FASB Releases Proposed Taxonomy Implementation Guide for Employee Benefit Plans

On August 2nd, the Financial Accounting Standards Board (FASB) released a proposed Taxonomy Implementation Guide, Employee Benefit Plans (Including Defined Contribution Plans Filing SEC Form 11-K), which is based on the 2024 GAAP Financial Reporting Taxonomy (GRT). The proposed Guide is designed to provide the framework for the reporting by employee benefit plans through illustrations and examples. Note that it focuses only on detail tagging (Level 4). Continue reading "FASB Releases Proposed Taxonomy Implementation..." »
Posted by
LeAnn Dey
at 11:23

FASB Publishes Proposed Taxonomy Implementation Guide for Income Taxes

On August 2nd, the Financial Accounting Standards Board (FASB) released a proposed Taxonomy Implementation Guide, Income Taxes (Topic 740), which is based on the 2024 GAAP Financial Reporting Taxonomy (GRT). The proposed guide is designed to illustrate how income taxes are reported under FASB Accounting Standards Codification Topic 740. Note that it focuses only on detail tagging (Level 4). Continue reading "FASB Publishes Proposed Taxonomy Implementation..." »
Posted by
LeAnn Dey
in Accounting, FASB News, US GAAP Taxonomy at 09:52

Fact Sheet Available for Proposed Joint Data Standards Under the Financial Data Transparency Act

On August 2nd, the SEC proposed joint data standards under the Financial Data Transparency Act of 2022 (FDTA) that would establish technical standards for data submitted to certain financial regulatory agencies, making financial data more accessible, uniform, and useful to the public. The joint data standards would make it easier for financial institutions to file reports across multiple agencies and help regulators carry out the SEC’s oversight functions with greater efficacy. Continue reading "Fact Sheet Available for Proposed Joint Data..." »
Posted by
LeAnn Dey
in FDTA, SEC, XBRL at 08:29

Thursday, August 01. 2024

FASB Publishes Proposed GAAP Taxonomy Enhancements for a Proposed ASU Update, Solicits Comment

The Financial Accounting Standards Board (FASB) has released proposed GAAP Taxonomy Improvements for the proposed Accounting Standards Update (ASU), Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for a Share-Based Payment from a Customer in a Revenue Contract. Continue reading "FASB Publishes Proposed GAAP Taxonomy..." »
Posted by
LeAnn Dey
in Accounting, FASB News, US GAAP Taxonomy at 17:44

MSRB Adopts FY 2025 Budget, Elects Board Leadership and Furthers Strategic Priorities at Quarterly Board Meeting

On July 26th, the Board of Directors of the Municipal Securities Rulemaking Board (MSRB) convened the final quarterly meeting of fiscal year 2024 on July 24-25, 2024. At this meeting, the Board approved the fiscal year 2025 budget, held fiscal year 2025 officer elections, and discussed priorities to advance its 2022-2025 Strategic Plan. Continue reading "MSRB Adopts FY 2025 Budget, Elects Board..." »
Posted by
LeAnn Dey
in EMMA News, MSRB at 13:18
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