NEWS RELEASE 03/21/13
FASB Adds Three Additional Implementation Guides to the XBRL
SeriesNorwalk, CT, March 21, 2013—The Financial Accounting
Standards Board (FASB) recently added three Implementation
Guides to the XBRL series, including two for the insurance industry. The
guides are designed to help users of the U.S. GAAP Financial Reporting Taxonomy
understand how certain disclosures are structured within the Taxonomy. All
guides are available at http://www.fasb.org/cs/ContentServer?c=Page&pagename=FASB%2FPage%2FSectionPage&cid=1176160665046.
GAAP Financial Reporting Taxonomy Implementation Guide—Insurance Industry:
Concentration of Credit Risk Disclosures demonstrates modeling for
disclosures of ceded credit risk with a single credit rating, multiple credit
ratings, and those shown in more than one table.
U.S. GAAP Financial
Reporting Taxonomy Implementation Guide—Insurance Industry: Reinsurance-Related
Disclosures provides XBRL users with a model for disclosing risk management
objectives and retention policies, effects of reinsurance, and the supplemental
schedule of reinsurance, which is required by SEC Regulation S-X, 210.12-17.
This Implementation Guide does not cover concentrations of credit risk resulting
from reinsurance arrangements.
U.S. GAAP Financial Reporting Taxonomy
Implementation Guide—Segment Reporting demonstrates the modeling for
disclosures related to segment reporting.
The examples in each of these
Implementation Guides are not intended to comprise all of the potential modeling
configurations or to dictate the appearance and structure of a company´s XBRL
documents, but to provide examples of common disclosure presentations in each of
the specified areas.
is a list of computer-readable tags in XBRL that allows companies to tag
precisely the thousands of pieces of financial data that are included in typical
long-form financial statements and related footnote disclosures. The tags allow
computers to automatically search for, assemble, and process data so it can be
readily accessed and analyzed by investors, analysts, journalists, and
The XBRL Implementation Guide series is part of the
continuing effort of the Financial Accounting Foundation (FAF) and the FASB to
update the Taxonomy for changes in U.S. GAAP, identify best practices in
Taxonomy extensions, and offer technical enhancements.