Reporting Taxonomy News Today

The Governmental Accounting Standards Board is getting ready to roll out new rules and proposals for state and local governments, including improvements to the financial reporting model, classification of capital assets, and measurement of infrastructure assets.

The Financial Accounting Standards Board proposed updates to its U.S. GAAP Financial Reporting Taxonomy to reflect a new proposed standard on crypto assets.

The commission warned on Friday that filers are using the wrong XBRL tags for reporting their finance lease liability and future payments.

The GRT, SRT and DQCRT are available for review, but still await final SEC approval.