FASB Releases Final UGT Implementation Guides
Currently available on its website, the Financial Accounting Standards Board (“FASB”) has issued two final UGT Implementation Guides. The first guide, U.S. GAAP Financial Reporting Taxonomy (UGT) Implementation Guide, Notional Amount Disclosures, gives examples for understanding the modeling for notional amount disclosures is organized within the UGT. The other guide, U.S. GAAP Financial Reporting Taxonomy (UGT) Implementation Guide, Segment Reporting, provides examples of the modeling for disclosures associated with segment reporting. Examples published in the Implementation Guides assume that the entity meets the reporting criteria for notional amount disclosures listed under U.S. GAAP, and/or the U.S. Securities and Exchange Commission’s authoritative literature. While the Implementation Guides are not authoritative, they are considered documents detailing how the UGT is designed.