Accounting standard newly cited
Filing comparison
Ostin Technology Group Co., Ltd. cited accounting standard ASU 2016-13 for the first time in this filing series
Since October 1, 2024, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), using the modified retrospective transition method.
Evidence
- Adopted
- 2016-13
- Contexts
- Since October 1, 2024, the Company adopted Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), using the modified retrospective transition method.
- New standards
- 2016-13, 2023-09, 2024-02, 2024-03, 2024-04, 2025-01, 2025-05, 2025-07, 2025-11
- Prior filed
- 2025-01-27
- Prior form
- 20-F
- 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.