US-GAAP Taxonomy

The US-GAAP taxonomy is the standardized XBRL dictionary of U.S. Generally Accepted Accounting Principles reporting concepts that public companies use to tag the financial statements in their SEC filings. Formally the U.S. GAAP Financial Reporting Taxonomy, it defines thousands of elements — line items like revenue, cost of goods sold, net income, total assets, and stockholders' equity — each with a precise definition, data type, and authoritative reference to the underlying accounting standard. It is the base taxonomy that anchors the XBRL data in nearly every 10-K and 10-Q.

The taxonomy is developed and maintained by the Financial Accounting Standards Board (FASB) and is reviewed and approved each year by the SEC for use in EDGAR.

When a company tags its income statement, balance sheet, and cash flow statement, it maps each reported figure to an element in the US-GAAP taxonomy — for example, tagging a net income figure to the element `us-gaap:NetIncomeLoss`. This shared vocabulary is what allows the same financial concept to be identified consistently across thousands of different filers and many years of filings.

The taxonomy is updated annually to reflect new accounting standards, retired concepts, and improvements to its structure. Companies select the appropriate annual version when they file. Where a company reports something the base taxonomy does not cover, it can add an extension element, but the bulk of standard financial-statement reporting is tagged against the US-GAAP taxonomy itself.

GeminIQ reads the as-filed values associated with these US-GAAP elements directly from EDGAR. Because the data is sourced from the standardized taxonomy without a third-party normalization layer, each metric reflects exactly what the company reported under U.S. GAAP.