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Changing Tags for the Same Reported Items on the Income Statement over Multiple Periods

Dec. 8, 2022

Staff in the Commission’s Division of Economic and Risk Analysis has completed an assessment of how filers are tagging line items on the income statement over multiple periods. Staff has observed that some filers are using different elements to tag the same reported line item on the income statement from one period to the next, even though each of those tags are included in the taxonomy versions used in the filings. In some cases, filers used one element in a particular form (e.g., Form 10-Q) while using another element for the same reported line item in a different form (e.g., Form 10-K).

Inconsistency of element selection hinders comparability of data across filers, and across reporting periods for each filer. Filers are encouraged to carefully select the most appropriate element to tag their financial statements and disclosures in order to help minimize the need for any subsequent changes in their tag selection for those same items. Filers also are encouraged to check that the same reported items, regardless of the form type being submitted, are tagged with the same elements absent changes in the accounting definition or nature of the reported items or other significant reason (e.g., finding that a tag does not match the information to be tagged). The U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards taxonomies provide documentation and reference labels to assist filers with tag selection.

For more data quality reminders, see Staff Observations and Guidance.

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