FASB Issues Taxonomy Q&A Related to COVID-19 Pandemic and Relief Disclosures
June 22, 2020
The FASB staff has issued a Q&A on the “application of the US GAAP Financial Reporting
Taxonomy (Taxonomy) to disclosures related to the effects of the coronavirus (also
referred to as COVID-19) pandemic and relief efforts.” The Q&A focuses on
disclosures related to:
- Income taxes.
- Payroll taxes.
- Loans.
- Grants.
- Pensions.
- Overall discussion of the COVID-19 pandemic.
For more information, see the press release on the FASB’s Web site.