We have adopted a new accounting guidance last quarter in Q119, where we make changes to the presentation of the Q119 numbers in accordance to the guidance, but didn’t make conforming changes to the PY Q118 numbers (which is allowed by the new guidance). As such, different elements were used for the Q119 and Q118 numbers.
When we migrate to the FY18 taxonomy this quarter, we have downloaded a migration summary that details the various change in concepts and standard label along with “WK Notes”
One of the WK Notes related to element used for prior year Q118 said “This concept has a Taxonomy Implementation Note. FASB has provided additional information about this concept's intended use. Please review this information concerning appropriate use of the concept.”
Looking up the TIN on FASB Yeti website, it said “Element is transitional and intended to be used by entities that apply nonpublic entity timing in adoption of amendments from Accounting Standards Updates. “ I believe this comment is saying it’s OK to be used by private companies since they have a delay in required adoption date of the new guidanceSince we are a public company and did not make conforming changes to the PY balances which is allowed by the new guidance, can we still keep using the same element for the PY numbers? The description and nature of the element is still correct, but only concern is we are not a private company.