Accounting standard newly cited
Filing comparison
Penguin Solutions, Inc. cited accounting standard ASU 2025-07 for the first time in this filing series
We adopted this standard at the beginning of the second quarter of fiscal 2026 on a prospective basis. ASU 2025-07 clarified the rules surrounding the scope exception under ASC 815.
Evidence
- Adopted
- 2025-07
- Adoption year stated
- 2026
- Contexts
- We adopted this standard at the beginning of the second quarter of fiscal 2026 on a prospective basis. ASU 2025-07 clarified the rules surrounding the scope exception under ASC 815.
- New standards
- 2024-04, 2025-07
- Prior filed
- 2025-10-21
- 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.