United States:
FASB Proposes Implementation Guides For 2021 U.S. GAAP Financial Reporting Taxonomy
01 March 2021
Cadwalader, Wickersham & Taft LLP
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The Financial Accounting Standards Board ("FASB") proposed two Implementation Guides for the
2021 U.S. GAAP Financial Reporting Taxonomy. The first guide provides examples to aid users in
understanding the disclosure models of consolidated and
nonconsolidated entities. The second guide provides examples to aid users in
understanding the structuring of accounting changes within the
taxonomy.
Comments on the first guide must be submitted by March 3, 2021,
and comments on the second guide must be submitted by March 12,
2021.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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