SEC, FASB Boolean Fixed List Taxonomy


On Oct. 28, SEC reported FASB taxonomy on use of Boolean elements.


  • SEC reported FASB proposed Taxonomy Implementation Guide, Boolean, Fixed List, and Extensible Enumeration Elements, on 2024 GAAP Financial Reporting Taxonomy.
  • Describes when and how to use Boolean, fixed list, extensible enumerations elements.
  • Proposed Updates
  • Described when and how to use Boolean, fixed list, and extensible enumerations elements and illustrated appropriate use cases for each of these element types.
  • Target audience is party responsible for tagging financial statements in SEC extensible business reporting language (XBRL) filing; elements streamline process for data users.
  • While nonnumeric data in notes to financial statements are tagged with text blocks, it is beneficial to users to be able to identify certain disclosed information more precisely.
  • Ensuring the data can be consumable in a structured format; benefits include improved data quality, efficiency, scalability, simplicity, and accessibility.
  • Consultation
  • Comments on proposed taxonomy implementation guide due by Dec. 20, 2024.

Regulators SEC
Entity Types Auditor; Corp
Reference PR, Gd, 10/28/2024;
Functions Accounting; Compliance; Legal; Product Administration; Reporting
Countries United States of America
Category National Regulator
State
Products Securities
Regions Am
Rule Type Proposed
Rule Date 10/28/2024
Effective Date 12/20/2024
Rule Id 231333
Linked to N/A
Reg. Last Update 10/28/2024
Report Section US Investment

Last substantive update on 10/30/2024