FASB posts 2019 GAAP and SEC taxonomies

The Financial Accounting Standards Board announced on Tuesday that the 2019 GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy are now available, pending final acceptance by the Securities and Exchange Commission.

The 2019 GAAP Financial Reporting Taxonomy includes updates on new accounting standards and other improvements, while the 2019 SEC Reporting Taxonomy provides condensed consolidating financial information for guarantors, disclosures about oil- and gas- production, and other necessary components for meeting SEC requirements.

Both taxonomies are expected to be accepted by the SEC as final in early 2019.

Courtesy of GASB

The taxonomies are available on the FASB’s XBRL pages via the following links: 2019 GAAP Financial Reporting Taxonomy and 2019 SRT.