Accounting standard newly cited
Filing comparison
SBC Medical Group Holdings Inc cited accounting standard ASU 2023-08 for the first time in this filing series
(l) Cryptocurrencies Effective January 1, 2025, the Company adopted ASU No. 2023-08, Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”) using a modified retrospective approach, which requires cryptocurrency assets to be measured at fair value each reporting period with changes in fair value recorded in net income or loss.
Evidence
- Adopted
- 2023-08
- Adoption year stated
- 2025
- Contexts
- (l) Cryptocurrencies Effective January 1, 2025, the Company adopted ASU No. 2023-08, Accounting for and Disclosure of Crypto Assets (“ASU 2023-08”) using a modified retrospective approach, which requires cryptocurrency assets to be measured at fair value each reporting period with changes in fair value recorded in net income or loss.
- New standards
- 2023-08, 2023-09, 2025-05, 2025-11
- Prior filed
- 2025-05-09
- 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.