Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2458

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 2458
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, 2024 retrospectively to all periods presented in the
consolidated financial statements. The adoption of this ASU had no impact on reportable segments identified and had no effect
on the Company’s consolidated financial position, results of operations, or cash flows.

Accounting standards not yet adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic
740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU No. 2023-09 requires
a public business entity (PBE) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts,
broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those
items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated
by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received.
This pronouncement is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently
assessing this ASU to determine the impact on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting
Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), which requires entities to provide more detailed disaggregation
of expenses in the income statement, focusing on the nature of the expenses rather than their function. The new disclosures will require
entities to separately present expenses for significant line items, including but not limited to, depreciation, amortization, and employee
compensation. Entities will also be required to provide a qualitative description of the amounts remaining in relevant expense captions
that are not separately disaggregated quantitatively, disclose the total amount of selling expenses and, in annual reporting periods,
provide a definition of what constitutes selling expenses. This pronouncement is effective for fiscal years beginning after December 15,
2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently
assessing this ASU to determine the impact on its consolidated financial statements.

Management does not believe
that any other recently issued, but not yet effective accounting pronouncements, if adopted,