Novaworks Weblog - FASB News

SEC Issues Guidance on Misuse of Tagging Elements in BDCs’ Statements of Operations

nospam@example.com (LeAnn Dey) — Mon, 31 Aug 2026 15:30:00 -0400

On August 27th, the SEC’s Division of Economic and Risk Analysis (DERA) completed an assessment of the tagging in Business Development Companies’ (BDCs’) consolidated statements of operations in Forms 10-K for fiscal year 2025. In conducting this assessment, staff noted several recurring issues in the way certain income and expense line items were tagged, indicating that many filers continue to apply elements that do not align with the structure of BDC financial statements. Continue reading "SEC Issues Guidance on Misuse of Tagging Elements in BDCs’ Statements of Operations"

FASB Publishes 2026 Investor Outreach Report

nospam@example.com (LeAnn Dey) — Wed, 12 Aug 2026 16:45:00 -0400

On August 6th, the Financial Accounting Standards Board (FASB) issued its 2026 Investor Outreach Report, which is now available through the FASB’s Investor Web Portal. The report details how investor feedback shapes standard‑setting priorities, informs potential improvements to GAAP, and supports the work of the Investor Advisory Committee. The report summarizes the more than 2,475 investor interactions the FASB has conducted since 2021 across a wide range of market participants. Continue reading "FASB Publishes 2026 Investor Outreach Report"

FASB Releases GAAP Taxonomy Improvements for FSLDs, Requests Feedback

nospam@example.com (LeAnn Dey) — Thu, 30 Jul 2026 17:00:00 -0400

On July 20th, the Financial Accounting Standards Board (FASB) staff issued a proposed Taxonomy Implementation Guide to provide filers with a simple and consistent way to use Financial Statement Location Dimensions (FSLDs) to help companies correctly tag amounts that appear across multiple financial‑statement captions, reducing confusion and improving consistency in XBRL filings. Continue reading "FASB Releases GAAP Taxonomy Improvements for FSLDs, Requests Feedback"

FASB Publishes Investment Companies Implementation Guide, Solicits Feedback

nospam@example.com (LeAnn Dey) — Thu, 30 Jul 2026 09:45:00 -0400

On July 9th, the Financial Accounting Standards Board (FASB) staff released its investment companies implementation guide, which is designed to show how the GAAP Taxonomy models financial reporting for entities that would be considered investment companies in accordance with GAAP or SEC rules. Although the publication is not authoritative, it is intended to help preparers be consistent when applying taxonomy elements, reduce tagging errors in XBRL filings, and help filers understand how the taxonomy reflects the unique structure of investment company financial statements. Continue reading "FASB Publishes Investment Companies Implementation Guide, Solicits Feedback"

FASB to Discuss 2026 GAAP and SEC Reporting Taxonomy Improvements,SEC Update

nospam@example.com (LeAnn Dey) — Tue, 07 Apr 2026 11:00:00 -0400

The Financial Accounting Standards Board (FASB) will host a webinar to discuss 2026 GAAP and SEC reporting taxonomy improvements and an SEC data quality update. The event will take place on Tuesday, April 14, 2026, beginning at 1:00 p.m. Eastern. Continue reading "FASB to Discuss 2026 GAAP and SEC Reporting Taxonomy Improvements,SEC Update"

XBRL US to Host Webinar on Data Quality Rules in US GAAP Taxonomy 2026

nospam@example.com (LeAnn Dey) — Wed, 12 Nov 2025 10:30:00 -0500

XBRL US will hold a webinar that will focus on data quality rules related to US GAAP Taxonomy 2026. The webinar will take place on Wednesday, November 19, 2025, beginning at 3:00 p.m. Eastern. The event is free and open to the public, though registration is required. Continue reading "XBRL US to Host Webinar on Data Quality Rules in US GAAP Taxonomy 2026"

FASB Issues Proposed GAAP Taxonomy Improvements for Proposed ASU on Paid-in-Kind Dividends on Equity-Classified Preferred Stock, Solicits Feedback

nospam@example.com (LeAnn Dey) — Wed, 08 Oct 2025 15:30:00 -0400

On September 30th, the Financial Accounting Standards Board (FASB) published proposed GAAP Taxonomy Improvements for the proposed Accounting Standards Update (ASU), Equity (Topic 505): Initial Measurement of Paid-in-Kind Dividends on Equity-Classified Preferred Stock. The proposed update was released both to provide authoritative guidance on how issuers should initially measure all aspects of the ASU and to allow for public review and comment. Continue reading "FASB Issues Proposed GAAP Taxonomy Improvements for Proposed ASU on Paid-in-Kind Dividends on Equity-Classified Preferred Stock, Solicits Feedback"

FASB Releases Proposed Improvements for 2026 US GAAP Taxonomy

nospam@example.com (LeAnn Dey) — Tue, 07 Oct 2025 09:30:00 -0400

On September 30th, the Financial Accounting Standards Board (FASB) staff issued proposed technical and other conforming improvements for the 2026 GAAP Financial Reporting Taxonomy and the related release notes for public review and comment. Continue reading "FASB Releases Proposed Improvements for 2026 US GAAP Taxonomy"

FASB Publishes Technical and Other Conforming Improvements for 2026 SEC Reporting Taxonomy

nospam@example.com (LeAnn Dey) — Tue, 23 Sep 2025 11:00:00 -0400

On September 16th, the Financial Accounting Standards Board (FASB) staff released proposed technical and other conforming enhancements for the 2026 SEC Reporting Taxonomy and the related release notes for review and comment. The proposed taxonomy improvements mainly include deprecations of elements because of infrequent use in practice or superseded guidance. Continue reading "FASB Publishes Technical and Other Conforming Improvements for 2026 SEC Reporting Taxonomy"

FASB Publishes Proposed Taxonomy Implementation Guide for Disaggregation of Income Statement Expenses

nospam@example.com (LeAnn Dey) — Thu, 07 Aug 2025 14:25:00 -0400

On July 28th, the Financial Accounting Standards Board (FASB) issued the proposed Taxonomy Implementation Guide, Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is based on the 2025 GAAP Financial Reporting Taxonomy. The proposed guide demonstrates the framework for the reporting of the disaggregation of income statement expenses in accordance with the FASB Accounting Standards Codification Subtopic 220-40. The guide is comprised of examples and solely focuses on detail tagging (Level 4). Continue reading "FASB Publishes Proposed Taxonomy Implementation Guide for Disaggregation of Income Statement Expenses"

SEC Publishes Guidance Regarding Incomplete and Inappropriate Tagging for Business Development Companies’ Schedule of Investments

nospam@example.com (LeAnn Dey) — Fri, 27 Jun 2025 11:00:00 -0400

The SEC's Office of Structured Disclosure reminds the financial reporting community that Rule 405(e) of Regulation S-T provides guidance for tagging requirements for financial statement schedules, which includes a fund's Schedule of Investments (SOI), under rules 12-12, 12-13, 12-13A through 13D, and 12-14 of Regulation S-X. Accordingly, a Business Development Company (BDC) is required to tag its SOI in compliance with the tagging requirements in Rule 405(e) of Regulation S-T. Continue reading "SEC Publishes Guidance Regarding Incomplete and Inappropriate Tagging for Business Development Companies’ Schedule of Investments"

FASB Issues Proposal to Enhance Accounting for Debt Exchanges

nospam@example.com (LeAnn Dey) — Tue, 06 May 2025 16:30:00 -0400

On April 30th, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would provide accounting guidance for debt exchange transactions with multiple creditors. The proposed ASU is based on a recommendation of the Emerging Issues Task Force (EITF), which aids the FASB in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues within the framework of the FASB Accounting Standards Codification. Continue reading "FASB Issues Proposal to Enhance Accounting for Debt Exchanges"

Financial Accounting Foundation Publishes 2024 Annual Report

nospam@example.com (LeAnn Dey) — Thu, 24 Apr 2025 11:45:00 -0400

On April 16th, the Financial Accounting Foundation (FAF) released its 2024 annual report, Standards That Work, Stakeholder Engagement. The report highlights the organization's activities throughout 2024 and showcases how the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) engage with a number of stakeholder groups to develop and enhance Generally Accepted Accounting Principles (GAAP). The publication also comprises viewpoints from FAF leaders who provide the oversight and accountability vital to the organization's standard-setting process. Continue reading "Financial Accounting Foundation Publishes 2024 Annual Report"

XBRL Announces Webinar on 2025 Meta Model Improvements

nospam@example.com (LeAnn Dey) — Mon, 14 Apr 2025 09:59:00 -0400

The Financial Accounting Standards Board (FASB) will host an XBRL US webinar that will provide an overview of the 2025 Meta Model improvements. The session is tailored for accountants, developers, technologists, and data/analytics providers who would like to leverage the relationships within the US GAAP Taxonomy to improve their work. The webinar will take place on Wednesday, May 21, 2025, from 3:00 p.m. to 4:00 p.m. EST via Zoom. The event is free and open to the public, though registration is required. Continue reading "XBRL Announces Webinar on 2025 Meta Model Improvements"

FASB to Discuss 2025 GAAP and SEC Reporting Taxonomy Improvements

nospam@example.com (LeAnn Dey) — Wed, 05 Mar 2025 14:06:00 -0500

The Financial Accounting Standards Board (FASB) will host a webinar to discuss 2025 GAAP and SEC reporting taxonomy improvements and an SEC data quality update. The event will take place on Tuesday, April 8, 2025, beginning at 1:00 p.m. (ET). Continue reading "FASB to Discuss 2025 GAAP and SEC Reporting Taxonomy Improvements"