The Financial Accounting Foundation (FAF) has announced that the US Securities and Exchange Commission (SEC) has adopted the 2011 US Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy. The taxonomy contains updates for accounting standards and other improvements to the official taxonomy previously in use by SEC issuers and came into force on 28 February 2011.
Questions about using this taxonomy for creating and submitting eXtensible Business Reporting Language (XBRL) tagged interactive data files in compliance with SEC rules should be directed to the SEC. SEC contact details and guidance are available at the SEC’s portal on XBRL.
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