Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 786

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 786
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 do not meet
                                            the criteria for equity treatment thereunder, each warrant must be recorded as a liability
                                            See Note 11  “Warrants” for further information.

F-16

Veea
Inc. and Subsidiaries

Notes
to the Consolidated Financial Statements 

For
the Years ended December 31, 2024 and 2023

Accounting
Pronouncements Recently Adopted

In
November 2023, the FASB issued ASU 2023-07, “Segment Reporting  (Topic 280): Improvements to Reportable Segment Disclosures”.
This ASU includes amendments that expand the existing reportable segment disclosure requirements and requires disclosure of (i) significant
expense categories and amounts by reportable segment as well as the segment’s profit or loss measure(s) that are regularly provided
to the chief operating decision maker (the “CODM”) to allocate resources and assess performance; (ii) how the CODM uses each
reported segment profit or loss measure to allocate resources and assess performance; (iii) the nature of other segment balances contributing
to reported segment profit or loss that are not captured within segment revenues or expenses; and (iv) the title and position of the
individual or name of the group or committee identified as the CODM. We adopted the ASU on January 1, 2024, and the adoption did not
have a material impact on the Company’s 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 the Company being required to include enhanced
income tax related disclosures. The Company is currently evaluating the impact this standard will have on its consolidated financial
statements.

In
November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disc