Latest News

FASB seeks comments on two proposed Taxonomy Implementation Guides

Written on Jan 26, 2024

FASB staff recently issued two proposed Taxonomy Implementation Guides (Guides) based on the 2024 GAAP Financial Reporting Taxonomy, which was made available in December 2023 pending SEC acceptance. The first proposed Guide, Leases under Topic 842, includes a new example that illustrates the modeling for disclosures reporting information about leases not yet commenced. 

The second proposed Guide, Financial Services—Investment Companies (Including SEC S-X Schedules for Business Development Companies), includes a new example that illustrates the modeling for the disclosure of financial support that an investment company is contractually required to provide to its investees but has not yet provided. 

Interested parties may submit comments on the proposed Guide on leases (File Reference Number 2024-100) and/or the proposed Guide on investment companies (File Reference Number 2024-150) by emailing comments to xbrlguide@fasb.org. Include the File Reference Number indicated above and on the cover of the proposed Guides. 

The comment periods for the proposed Guides end Feb. 19, 2024. 

Related Upcoming Events