Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

FASB, SEC offer new insights on XBRL

Tammy Whitehouse | February 19, 2016

The Financial Accounting Standards Board has made some changes to the Development Taxonomy for any early adopters of FASB’s new standard on the recognition and measurement of financial instruments, adding elements that companies can use in submitting their financial statements in XBRL.

FASB provides a worksheet that contains the new elements that are available for companies opting to apply the new accounting rule before it is required. The elements are available for use, but must be created as extensions, or custom tags, until the Securities and Exchange Commission gives its final blessing to the 2017 GAAP Taxonomy, FASB says.

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.