Inappropriate Custom Members for Certain Axes
The U.S. GAAP Financial Reporting Taxonomy (GAAP Taxonomy) has designated a limited set of permitted members[1] for certain axes[2] in Commission filings. For example, the four axes below are allowed to have only the following members:[]
| Axis | Allowed Members | |
|---|---|---|
| 1 | ReclassificationOutOfAccumulatedOtherComprehensiveIncomeAxis | A) Reclassification Out of Accumulated Other Comprehensive Income |
| 2 | FairValueByMeasurementFrequencyAxis |
A) Fair Value Recurring B) Fair Value Non-Recurring |
| 3 | FairValueByMeasurementBasisAxis |
A) Portion at Fair Value Measurement B) Reported Value Measurement C) Estimate of Fair Value Measurement D) Changes Measurement E) Portion at Other than Fair Value Measurement |
| 4 | SubsequentEventTypeAxis | A) Subsequent Event |
We have observed that some filers have inappropriately added custom members to these axes.[]If the filers use the above standard axes in the GAAP Taxonomy, they should use allowed members for relevant axes where appropriate.[3]
For more information on axes in the GAAP Taxonomy, see https://www.fasb.org/jsp/FASB/Page/LandingPage?cid=1176164131053
[1] Represents an element representing one of the possibilities within an entire set of elements. For example, Maryland is a member within a set of all U.S. states.
[2] An instance document contains facts; an axis differentiates facts and each axis represents a way that the facts may be classified. For example, Revenue for a period might be reported along a business unit axis, a country axis, a product axis, and so forth.
[3] A filer must use a custom member if and only if an appropriate member does not exist in the allowed members for reasons other than or in addition to an inappropriate standard label.
Last Reviewed or Updated: Oct. 13, 2020