Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 604

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 604
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2022-02 did not have a material impact on the Company’s consolidated financial statements.

In June 2022, the FASB issued ASU 2022-03, Fair
Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions, which clarifies
that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security
and, therefore, is not considered in measuring fair value. This update also clarifies that an entity cannot, as a separate unit of account,
recognize and measure a contractual sale restriction and requires certain disclosures for equity securities subject to contractual sale
restrictions. ASU 2022-03 is effective for the Company in the fiscal year beginning after December 15, 2023. The Company adopted the standard
beginning in fiscal year 2024. The adoption did not have a material impact on the Company’s consolidated financial statements.

F-15

Recently Issued Accounting Standards Not Yet
Adopted

In December 2024, the FASB issued ASU No. 2024-03,
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statements
Expenses, which requires public entities to provide disaggregated disclosure of certain income statement expense captions within the footnotes
to the financial statements. ASU No. 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods after
December 15, 2027, with early adoption permitted. We are currently evaluating the impact ASU 2024-03 will have on our consolidated financial
statements.

In November 2024, the Financial Account Standards
Board (FASB), issued Accounting Standards Update (ASU) 2024-04, Debt-Debt with Conversions and Other Option. ASU 2024-04 is
intended to clarify requirements for determining whether certain settlements of convertible debt instruments, including convertible debt
instruments with cash conversion features or convertible debt instruments that are not currently convertible, should be accounted for
as an induced conversion. This ASU is effective for all entities for annual reporting periods beginning after December 15, 2025, and
interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the
potential impact of this guidance on its disclosures.

In December