Nonpublic (Unlisted) Company Disclosure Checklist Update Information

Current through September 30, 2024

The nonpublic company disclosure checklists in our products are revised periodically to ensure that they are as up-to-date as possible. As part of that process, our editorial staff continually monitors the development of literature by the FASB, GASB, and IASB. The following disclosure requirements may have been issued after some checklists were last updated: (Page one of each checklist lists the latest pronouncements issued as of the checklist's publication date.)

  • Accounting Standards Updates:

    • ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets (December 2023, effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years. Early adoption is permitted for financial statements that have not yet been made available for issuance.) Paragraphs 2 (FASB ASC 350-60-50-1 through 50-7) and 4 (FASB ASC 270-10-50-7)
    • ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (December 2023, for entities other than public business entities, effective for annual periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not been made available for issuance.) Paragraphs 3 (FASB ASC 740-10-50-1A, 50-8, 50-10A through 50-11A, 50-13, 50-15, 50-22, and 50-23), 6 (FASB ASC 740-30-50-2), and 7 (FASB ASC 230-10-50-2A)
    • ASU 2024-01, Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards (March 2024, for entities other than public business entities, effective for years beginning after December 15, 2025, and interim periods with those years. Early adoption is permitted for financial statements that have not been made available for issuance.) Paragraph 5 (FASB ASC 718-10-65-17)
    • ASU 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements (March 2024, for entities other than public business entities, effective for fiscal years beginning after December 15, 2025, including interim periods within those years. Early adoption is permitted for any fiscal year or interim period for which financial statements have not yet been made available for issuance.) Paragraph 36 (FASB ASC 105-10-65-9)

  • Statements and Implementation Guides of the Governmental Accounting Standards Board:

    • GASB Statement No. 102, Certain Risk Disclosures (December 2023, effective for fiscal years beginning after June 15, 2024, and reporting periods thereafter. Earlier application is encouraged.) Paragraphs 7 through 9
    • GASB Statement No. 103, Financial Reporting Model Improvements (April 2024, effective for fiscal years beginning after June 15, 2025, and reporting periods thereafter. Earlier application is encouraged.) Paragraph 10

  • Statements and Interpretations of the International Accounting Standards Board:

    • IFRS 18, Presentation and Disclosure in Financial Statements (April 2024, effective for annual reporting periods beginning on or after January 1, 2027. Earlier application is permitted with disclosure of that fact.) Refer to the Statement for the required disclosures and amendments to other IFRS.
    • IFRS 19, Subsidiaries without Public Accountability: Disclosures (May 2024, qualifying entities may elect to apply the Standard for reporting periods beginning on or after January 1, 2027. Earlier application is permitted with disclosure of that fact.) Refer to the Statement for the required disclosures and amendments to other IFRS. 
    • Annual Improvements—Volume 11 (July 2024, effective for annual reporting periods beginning on or after January 1, 2026. Earlier application is permitted.) IFRS 1, Paragraph 39AK; IFRS 7, Paragraphs 44NN, B38; IFRS 9, Paragraph 7.1.14; IFRS 10, Paragraph C1E; IAS 7, Paragraph 65

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