Accounting standard newly cited
Filing comparison
CHOICEONE FINANCIAL SERVICES INC cited accounting standard ASU 2025-08 for the first time in this filing series
The Company adopted ASU 2023-09 on December 31, 2025 on a prospective basis. ASU 2025-08 Purchased Credit Deteriorated Loans In November 2025, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2025‑08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans, which expands the use of the gross‑up method for recognizing expected credit losses on certain…
Evidence
- Adopted
- 2025-08
- Adoption year stated
- 2025
- Contexts
- The Company adopted ASU 2023-09 on December 31, 2025 on a prospective basis. ASU 2025-08 Purchased Credit Deteriorated Loans In November 2025, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2025‑08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans, which expands the use of the gross‑up method for recognizing expected credit losses on certain…
- New standards
- 2025-08
- Prior filed
- 2025-03-11
- 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.