GAE2515. Digital Reporting on Taxonomy

This session provides an overview of the work that the GASB is doing in developing a taxonomy for voluntary digital reporting. You will learn what a taxonomy is and how the reporting requirements of Statement No. 34, Basic Financial Statements—and Management's Discussion and Analysis—for State and Local Governments (as amended) are being integrated into digital reporting. You will also learn about the unique challenges that arise in developing a digital taxonomy for governmental financial reporting, focusing on two perspectives: the reliance on different bases of accounting and the importance of the financial reporting entity. Lastly, this session provides an overview of regulations that may affect digital reporting for governments.

Learning Objectives:

• How GAAP reporting requirements are integrated into a digital taxonomy
• How GAAP minimum reporting requirements affect the reliance on practice