Accounting standard newly cited
Filing comparison
Virginia National Bankshares Corp cited accounting standards ASU 2023-09, ASU 2025-08 for the first time in this filing series
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 2 - Adoption of New Accounting Standards On January 1, 2025, the Company adopted ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.
Evidence
- Adopted
- 2023-09, 2025-08
- Contexts
- NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 2 - Adoption of New Accounting Standards On January 1, 2025, the Company adopted ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures., On December 1, 2025, the Company adopted ASU 2025-08 "Financial Instruments—Credit Losses (Topic 326) Purchased Loans".
- New standards
- 2016-13, 2023-09, 2024-03, 2025-01, 2025-08
- Prior filed
- 2025-04-29
- 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.