Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 2324

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 7A
Chunk 2324
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 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 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures amending existing income tax disclosure guidance, primarily requiring
more detailed disclosure for income taxes paid and the effective tax rate reconciliation. The ASU is effective for annual reporting periods
beginning after December 15, 2024, with early adoption permitted and can be applied on either a prospective or retroactive basis. We are
currently evaluating the impact ASU 2023-09 will have on our consolidated financial statements.

Note 2 — Fair Value Measurements

Fair value is the price that would be received
for an asset or the amount paid to transfer a liability in an orderly transaction between market participants at the measurement date.
The Company follows ASC 820, Fair Value Measurement, for financial assets and liabilities measured at fair value on a recurring
basis. The Company uses the fair value hierarchy to categorize the financial instruments measured at fair value based on the available
inputs