The Financial Accounting Standards Board
(FASB) has launched a system for users of eXtensible Business
Reporting Language (XBRL) to submit comments on the US GAAP
financial reporting taxonomy.
The taxonomy online review and comment system
allows taxonomy users to review taxonomy being updated and
maintained by the FASB.
Stakeholders will be able to submit comments
directly and view changes in real time. All comments are then
tracked and reviewed for potential inclusion in a taxonomy
“We urge all XBRL users to take advantage of
the features available through this system, which is designed to
improve functionality and navigation of the taxonomy,” said FASB
chief of taxonomy development J. Louis Matherne.