SEC EDGAR Now Supports US GAAP 2019 XBRL Taxonomy

SEC EDGAR Now Supports US GAAP 2019 XBRL Taxonomy

By admin 13 March, 2019

The SEC EDGAR system was upgraded to Release 19.1 and now supports the 2019 U.S. GAAP, 2019 SEC Reporting (SRT), 2019 Currencies (Currency), and 2019 Exchanges (EXCH) taxonomies. The 2019 U.S. GAAP financial reporting taxonomy and the 2019 SEC Reporting Taxonomy reflect the same taxonomies that FASB made available on its website on December 18, 2018. The 2019 Currency and 2019 EXCH taxonomies reflect the same taxonomies the staff posted for public comment on November 30, 2018.  More details of the changes to the taxonomy are available here (PDF). SEC staff have indicated that they do not anticipate removing the 2017 U.S. GAAP, 2016 Currency, or 2017 EXCH taxonomies before June 2019.

A completing list of supported standard taxonomies is available at https://www.sec.gov/info/edgar/edgartaxonomies.shtml.

SEC staff encourages companies to use the most recent version of taxonomy releases for their XBRL exhibits to take advantage of the most up-to-date tags related to new accounting standards and other improvements. The staff suggests that filers consider transitioning to the 2019 taxonomies for the earliest reporting period that ends after March 11, 2019, but not for reporting periods that end before March 11, 2019.