ADMA BIOLOGICS, INC. cited accounting standard ASU 2016-02 for the first time in this filing series
The filing states this standard was adopted in 2019, so this is the first time it has been cited in this series rather than a change of policy in the current period.
Upon adoption of ASU 2016-02, Leases (Topic 842) effective January 1, 2019, the Company elected the package of practical expedients, which permits the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs.
Evidence
- Adopted
- 2016-02
- Adoption year stated
- 2019
- Caveat
- The filing states this standard was adopted in 2019, so this is the first time it has been cited in this series rather than a change of policy in the current period.
- Contexts
- Upon adoption of ASU 2016-02, Leases (Topic 842) effective January 1, 2019, the Company elected the package of practical expedients, which permits the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs.
- New standards
- 2016-02, 2025-11
- Prior filed
- 2025-11-05
- Prior form
- 10-Q
- Restates existing policy
- Yes
- 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.