NEWS RELEASE 02/11/13
FASB Issues XBRL Implementation Guide for Subsequent
EventsNorwalk, CT, February 11, 2013—The Financial
Accounting Standards Board (FASB) today issued its U.S.
GAAP Financial Reporting Taxonomy Implementation Guide—Subsequent
Events. The guide is the first in a series of XBRL
Implementation Guides, which are designed to help Taxonomy users understand how
certain disclosures are structured within the Taxonomy, and is available at www.fasb.org.
purpose of the Implementation Guide is to demonstrate the modeling for
disclosures required about events occurring subsequent to the end of a public
company´s reporting period. The modeling has been completed using the elements
in the Taxonomy. The examples are not intended to encompass all of the potential
modeling configurations or to dictate the appearance and structure of a
company´s XBRL documents.
In addition to the Implementation Guide, the
FASB also issued Definition
Components & Structure, the first style guide of the FASB
U.S. GAAP Financial Reporting Taxonomy Style Guide Series. Also available on the
FASB website, the style guides provide additional insight into design criteria
and are offered as a reference for users of the Taxonomy.
The U.S. GAAP
Financial Reporting Taxonomy
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
In early 2010, the Financial Accounting Foundation (FAF)
assumed maintenance responsibilities for the Taxonomy, and, along with the FASB,
assembled a team of technical staff dedicated to updating the Taxonomy for
changes in U.S. GAAP, identifying best practices in Taxonomy extensions, and