FASB Staff Proposes Improvements to GAAP Taxonomy

The FASB staff has issued its Proposed 2022 Q3 Supplemental GAAP Taxonomy, which would improve (1) XBRL reporting by business development companies and (2) the tagging of disclosures related to obligations to safeguard crypto-assets that an entity holds for platform users.

Comments on the proposal are due by August 1, 2022. For more information, see the press release and release notes on the FASB’s Web site.