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A-Team Insight Blogs

2011 US GAAP and SEC Taxonomies Available

The 2011 US GAAP Taxonomy and related taxonomies maintained by the SEC are now available, and companies may submit their interactive data filings to EDGAR using these taxonomies. A listing of all taxonomies available for use, including the 2011 US GAAP taxonomy, is located at http://www.sec.gov/info/edgar/edgartaxonomies.shtml.

The EDGAR validation and Previewer have been updated to incorporate the new taxonomies. The Interactive Data Test Suite used by software developers has also been updated.

The SEC staff strongly encourages companies to use the most recent version of the US GAAP taxonomy release for their interactive data submissions to take advantage of the most up to date tags related to new accounting standards and other improvements. However, due to the timing of the release of the US GAAP 2011 taxonomy in conjunction with the phase-in of the Rule, companies will be permitted to continue to use the US GAAP 2009 taxonomy.

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