SEC Accepts 2022 Q3 Supplemental GAAP Taxonomy
The Financial Accounting Standards Board (FASB) recently announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2022 Q3 Supplemental GAAP Taxonomy, which includes improvements to the GAAP Financial Reporting Taxonomy and the SEC Reporting Taxonomy (collectively referred to as the “GAAP Taxonomy”).
The 2022 Q3 Supplemental GAAP Taxonomy includes improvements for the SEC Release Nos. 33–10771; 34–88606; IC–33836. That release requires that a business development company submit financial statement information using Inline XBRL. In addition, the 2022 Q3 Supplemental GAAP Taxonomy includes improvements needed to tag disclosures discussed in SEC Staff Accounting Bulletin No. 121, which covers the accounting for obligations to safeguard crypto-assets that an entity holds for platform users.
Questions about using the FASB taxonomies and creating and submitting XBRL-tagged interactive data files in compliance with SEC rules should be directed to the SEC. Details and guidance are available at the SEC’s portal on Structured Data.