SEC Accepts 2023 U.S. GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy

The FASB has announced that the SEC has accepted the 2023 U.S. GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy. The 2023 taxonomies reflect accounting standards updated during 2022 and other improvements related to business development companies “that submit financial statement information using Inline eXtensible Business Reporting Language.” In addition, the FASB has finalized the 2023 DQC Rules Taxonomy.