SEC Accepts 2020 U.S. GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy
March 10, 2020
The FASB has announced that the SEC has accepted the 2020 U.S. GAAP
Financial Reporting Taxonomy and SEC Reporting Taxonomy. The 2020 taxonomies reflect
accounting standards issued during the past year as well as other corrections and
improvements.
The SEC also has upgraded its EDGAR system to support the 2020 U.S. GAAP, 2020
SEC Reporting, 2020 Countries, 2020 Currencies, 2020 Exchanges, and 2020 Standard
Industrial Classification taxonomies. In addition, the EDGAR system will no longer
support the 2013 and 2012 INVEST taxonomies.