Nonpublic (Unlisted) Company Disclosure Checklist Update Information

Current through March 31, 2025

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 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments (November 2024, effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual periods. Early application is allowed where the financial statements have not been made available for issuance, but not earlier than the adoption of ASU 2020-06.) Paragraph 3 (FASB ASC 470-20-65-4)

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

    • 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
    • GASB Statement No. 104, Disclosure of Certain Capital Assets (September 2024, effective for fiscal years beginning after June 15, 2025, and reporting periods thereafter. Earlier application is encouraged.) Paragraphs 4, 8, and 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
    • IFRS for SMEs (Third Edition) (February 2025, effective for annual periods beginning on or after January 1, 2027. Earlier application is permitted.) Refer to the Standard for the disclosure requirements.

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