SEC announces availability of New 2009 US GAAP taxonomy

The SEC announced today that registrants can start utilizing the 2009 version of the US GAAP taxonomy on July 22, 2009.   The US GAAP 2009 Taxonomies are in the process of being loaded into the EDGAR system and will be available for use on July 22, 2009. The US SEC is strongly encouraging companies to begin working with this new taxonomy now. Tt is publicly available at http://xbrl.us/taxonomies/Pages/US-GAAP2009.aspx. Companies should use the latest available taxonomy for their entire fiscal year. However, due to delays in the release of  this  US GAAP 2009 taxonomy being made available, companies will be permitted to use the U.S. GAAP 1.0 taxonomy in their first required submission before switching to the US GAAP 2009 taxonomy.

See below for the full text posted at http://www.sec.gov/info/edgar/edgartaxonomies.shtml

June 8th, 2009 · 

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About XBRLSpy

Diane Mueller is the founder of XBRLSpy Research Inc. She is an XBRL Evangelist, and a XBRL Implementation Strategist. Currently serves on the XBRL International Steering Committee and Best Practices Board, and chairs the Technical Working Group on Rendering responsible for the Inline XBRL Specification. She is a frequent commentator and lecturer on Financial Compliance, XML Standards and Semantic Web technologies. Read more..

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