Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 252

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 252
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 15, 2022 with early adoption permitted. The Company adopted ASU 2016-13 beginning
January 1, 2023. The adoption of ASU 2016-13 did not have a material impact on the Company’s condensed consolidated financial statements.

In October 2021, the FASB issued ASU
2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,”
which requires entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination
as if it had originated the contracts. The standard is effective for public companies for fiscal years, and interim periods within those
fiscal years, beginning after December 15, 2022. We adopted the ASU on January 1, 2023 and will apply the guidance prospectively for
future acquisitions.

In September 2022, the FASB issued
ASU 2022-04, “Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations,”
which requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose sufficient
information about the program. The amendments do not affect the recognition, measurement or financial statement presentation of obligations
covered by supplier finance programs. The standard is effective for public companies for fiscal years, and interim periods within those
fiscal years, beginning after December 15, 2022, except for the amendment on roll-forward information, which is effective for fiscal
years beginning after December 15, 2023. We adopted the ASU on January 1, 2023, and the adoption did not have a material impact on the
Company’s condensed consolidated financial statements.

Recent Accounting Pronouncements
Not Yet Adopted

In December 2023, the FASB issued
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories
in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold. Further, the ASU requires additional
disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction. The new standard is effective for annual
periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively. Early adoption is permitted.
The adoption of this guidance will result in