Home > XBRL Taxonomy for US GAAP - Final 2014 Version
XBRL Taxonomy for US GAAP - Final 2014 Version
by Edith Orenstein on
Welcome to the AccountingWEB series "FEI Financial Reporting Blog" by Edith Orenstein, the director of Accounting Policy Analysis & Communications at FEI. You can see all of her articles here.
On December 18, the Financial Accounting Standards Board (FASB) announced it has published a final version of the 2014 US GAAP taxonomy to be used for reporting in eXtensible Business Reporting Language (XBRL), such as for purposes of XBRL reporting requirements under the SEC's rules. As noted in the FASB's announcement, the taxonomy is still pending the SEC's approval.
FASB's final 2014 US GAAP XBRL taxonomy represents the finalization of its earlier proposed taxonomy issued for public comment in October 2013. The proposed taxonomy was also reflected on the SEC's "proposed taxonomy" web page; and once the FASB's final 2014 taxonomy is approved by the SEC, it will be reflected on the SEC's standard taxonomy web page as the final 2014 taxonomy.
Edith Orenstein is the director of Accounting Policy Analysis & Communications at Financial Executives International (FEI), an association of over 15,000 senior financial executives including CFOs, treasurers, controllers, and tax executives. Before joining FEI in 2004, Orenstein spent four years in the Office of the Chief Accountant of the US Securities and Exchange Commission in Washington, DC.