Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003892
Chunk: 197

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 197
---
2016-13 beginning January 1, 2023. The adoption of ASU 2016-13 did not have a material impact
on the Company’s consolidated financial statements.

<div align='center'>F-17

Veea Inc. and Subsidiaries
Notes to Consolidated Financial Statements
Years Ended December 31, 2023 and 2022</div>

3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.)

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.

Recent Accounting Pronouncements Not Yet Adopted

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 contractual sale restrictions are not considered in measuring fair value of equity securities
and requires additional disclosures for equity securities subject to contractual sale restrictions. The standard is effective for public
companies for fiscal years beginning after December 15, 2023. Early adoption is permitted. This accounting standard update
is not expected to have a material impact on our consolidated