The U.S.Securities and Exchange mission (SEC)has now announced its preliminary 2018reporting taxonomy following a formal public review of the proposal.The 2018SEC Reporting Taxonomy (SRT)moves a range of elements from the GAAP Financial Reporting Taxonomy into a new taxonomy that can be used for panies reporting under both IFRS and US GAAP.

The broad categories addressed in the SRT include:

·The oil and gas industry

·Financial schles

·ndensed nsolidating financial information for guarantors

·untry de elements

·mon axis/domain used while reporting financials in US-GAAP.

The introduction of the SRT taxonomy eliminates the need for foreign private issuers (FPIs)using the IFRS taxonomy to import the US-GAAP Financial Reporting Taxonomy.This simplifies what would otherwise be a plex process.

The full text of SEC announcement is available here and the taxonomy on the FASB web here.

中文新闻：SEC发布2018版报告分类标准初步版本