DEVELOPMENT US GAAP Financial Reporting
Public Review and CommentThe Development Taxonomy is the FASB’s day-to-day working taxonomy and includes proposed changes since the last annual release.
We encourage all interested parties to review and comment on the ‘Development Taxonomy’. To encourage feedback, the FASB Taxonomy Online Review and Comment System (TORCS) is operational throughout the year. All comments are tracked and reviewed for potential inclusion in a subsequent taxonomy release. All comments are acknowledged when received but it is not possible to respond directly to individual comments. We have included guidance for using the taxonomy viewer/commenting tool.
Guidelines for Providing CommentsIndividuals providing comments on the taxonomies are required to register with a “user name” and email address. Please note that all comments will be visible to other registered users. In order to process comments, commentators should (1) describe the issue clearly, (2) provide examples and/or frequency of occurrence, and (3) provide a recommendation.
Please note: Individuals submitting more than 10 comments related to the same issue should not use this system as it delays the processing of the comments. Individuals who wish to provide more than 10 comments related to the same issue should send them directly to firstname.lastname@example.org.
Changes in the Development Taxonomy are identified with the label “Change Label 201X” (for example Change Label 2015). The “Change Label” identifies the year-month of the change. “[2014-05]” for example, refers to a change made in May 2014 and identifies the nature of the change with the following:
- New Element
- Modified Documentation Label
(which includes the original text for review purposes)
- Modified Standard, Period Start, Period End, or Total Labels
- Modified References
- Modified Data Type
- Modified Period Type
- Modified Balance Attribute
- Modified Deprecated Label
- Element Deprecated
The Development Taxonomy includes all proposed changes since the last annual release except for certain proposed ASU changes, which are managed separately as ASU Taxonomy Changes. See ASU Taxonomy Changes Page. ASU Taxonomy Changes are merged into the Development Taxonomy at the later of a completed public review period or the anticipated annual taxonomy release that covers the ASU effective date. Periodic release notes will be provided for the Development Taxonomy as a “snapshot” of changes since the last periodic release notes.
THE TAXONOMIES AND SUPPORTING MATERIALS PROVIDED THROUGH THESE LINKS ARE FOR REVIEW PURPOSES ONLY AND ARE NOT TO BE USED OR RELIED UPON FOR ANY PURPOSES OTHER THAN FOR THIS REVIEW AND COMMENT. YOUR USE OF THE TAXONOMIES FOR THESE PURPOSES SHALL BE SUBJECT TO THE TERMS AND CONDITIONS LOCATED AT THE INITIAL LINK TO THE TAXONOMIES.