XBRL US Initiates Public ReviewOf U.S. GAAP Taxonomies, Release 2009
Nov. 25, 2008
FEI Summary

On Nov. 25, 2008, XBRL US announced the kickoff of the public review of the latest US GAAP Taxonomies, Release 2009. 

Michelle Savage, of XBRL US, stated: "The taxonomies are collections of financial elements like net income or EPS that help describe your own financial statement information; each element has an associated label, definition and in some cases, authoritative reference materials. This set of taxonomies includes recent FASB pronouncements, including FAS 141R, FAS 160, FAS 161 and FAS 163. With an expected final rule from the Securities and Exchange Commission on mandatory XBRL submissions for all public companies coming any day now, this is a perfect opportunity to take a look at these collections of U.S. GAAP disclosures and common reporting practices and provide comment back to the XBRL US project team. Are there elements missing? Labels or definitions that should be revised so that it’s easier for you to create XBRL-formatted financials?”

The public review period for US GAAP Taxonomies, Release 2009 ends on Jan. 15, 2009; the taxonomies and related information can be found at http://xbrl.us/usgaappublicreview.