FASB Proposes Taxonomy Implementation Guide on Boolean, Fixed List, and Extensible Enumeration Elements

The FASB staff has issued a proposed GAAP taxonomy implementation guide that would “describe when and how to use the Boolean, Fixed List, and Extensible Enumerations elements and illustrate appropriate use cases for each of these element types.” These elements help users “identify certain disclosed information more precisely, ensuring the data can be consumable in a structured format.”

Comments on the proposed taxonomy implementation guide are due by December 20, 2024.