The Financial Accounting Standards Board (FASB) release the proposed 2017 GAAP Financial Reporting Taxonomy for public review and comment. The deadline to submit written comments is October 31, 2016.
The proposed 2017 Taxanomy contains updates for accounting standards and other recommended improvements. The Taxonomy is used by public issuers registered with the U.S. Securities and Exchange Commission (SEC). The comment perdiod of only 60 days is intended to allow users of the Taxonomy to provide feedback on these update. It is also intended to afford SEC filers, service providers, software vendors, and other interested parties the opportunity to become familiar with and suggest revisions to the Taxonomy, including incorporating new elements for current filings.
Those interested about the 2017 GAAP FInancial Reporting Taxonomy are invited to participate in a live CPE webinar called ON FOCUS: 2017 GAAP Financial Reporting Taxonomy Changes and SEC Update. Offered free of charge, the webinar takes place on TUesday October, 4, 2016, from 1:00 to 2:15 p.m. Eastern Daylight Time. Participants in the live broadcast will be eligible for up to 1.5 hours of CPE credit. (Please note that CPE credit is not available for group viewing of the live broadcast). To register or learn more about the webcast, log on to www.fasb.org