FASB Staff Proposes Taxonomy Implementation Guide Related to Employee Benefits

The FASB has released a proposed GAAP taxonomy implementation guide Employee Benefit Plans (Including Defined Contribution Plans Filing SEC Form 11-K). The proposed guide contains examples that illustrate “how the modeling for employee benefit plans is structured within the GAAP Taxonomy” and that “are based on the assumption that the entity meets the criteria for reporting as an employee benefit plan under Generally Accepted Accounting Principles (GAAP) and/or U.S. Securities and Exchange Commission (SEC) authoritative literature.”

Comments on the proposed guide are due by September 24, 2024.