Accounting standard newly cited
Filing comparison
Finwise Bancorp cited accounting standard ASU 2025-06 for the first time in this filing series
Internally Developed Software – Software developed for internal use is accounted for pursuant to ASC 350-40, Intangibles, Goodwill and Other — Internal-Use Software, as amended by ASU 2025-06, which the Company early adopted effective January 1, 2026 using the prospective transition approach.
Evidence
- Adopted
- 2025-06
- Adoption year stated
- 2026
- Contexts
- Internally Developed Software – Software developed for internal use is accounted for pursuant to ASC 350-40, Intangibles, Goodwill and Other — Internal-Use Software, as amended by ASU 2025-06, which the Company early adopted effective January 1, 2026 using the prospective transition approach.
- New standards
- 2025-06
- Prior filed
- 2026-08-12
- Prior form
- 10-Q
- 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.