Accounting standard newly cited
Filing comparison
Lightwave Logic, Inc. cited accounting standard ASU 2023-09 for the first time in this filing series
… following: Schedule of income tax benefit provision 2025 2024 Current $ — $ — Deferred (4,364,876 ) (4,219,770 ) Change in valuation allowance 4,364,876 4,219,770 Total $ — $ — Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, the reconciliation of the statutory federal rate to the Company’s effective income tax rate for the year ended December 31, 2025 was as follows:
Evidence
- Adopted
- 2023-09
- Adoption year stated
- 2025
- Contexts
- … following: Schedule of income tax benefit provision 2025 2024 Current $ — $ — Deferred (4,364,876 ) (4,219,770 ) Change in valuation allowance 4,364,876 4,219,770 Total $ — $ — Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, the reconciliation of the statutory federal rate to the Company’s effective income tax rate for the year ended December 31, 2025 was as follows:
- New standards
- 2023-07, 2023-09, 2024-03, 2026-02
- Prior filed
- 2025-03-28
- Prior form
- 10-K/A
- 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.