Accounting standard newly cited
Filing comparison
INNOVATE Corp. cited accounting standard ASU 2025-05 for the first time in this filing series
Subsequent to year end, on January 1, 2026, the Company adopted ASU 2025-05 and is utilizing the practical expedient when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606 (Revenue from Contracts with Customers).
Evidence
- Adopted
- 2025-05
- Contexts
- Subsequent to year end, on January 1, 2026, the Company adopted ASU 2025-05 and is utilizing the practical expedient when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under Topic 606 (Revenue from Contracts with Customers).
- New standards
- 2025-03, 2025-05, 2025-06
- Prior filed
- 2025-03-31
- Prior form
- 10-K
- Restates existing policy
- No
- Source
- accounting standards update (ASU) reference comparison
- Why
- An accounting standard (ASU) appears in this filing that did not appear in the previous comparable one, in a sentence describing it as adopted. That is a change in what the company discloses, which is not always a change of policy in the current period: the filing may state an adoption date years earlier.