Company: MCGAU
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076738
Chunk: 77

Company: Yorkville Acquisition Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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 of financial statements and related
disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date
of the financial statements, and income and expenses during the periods reported. Actual results could materially differ from those estimates.
We have not identified any critical accounting estimates as of June 30, 2025.

Recent Accounting Pronouncements

In November 2023, the FASB issued Accounting
Standard Update 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”),
which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant
segment expenses. The standard was effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal
years beginning after December 15, 2024, with early adoption permitted. We adopted this ASU on March 3, 2025, the date of our
inception. Adoption of the new standard did not have a material impact on our financial statements.

In December 2023, the FASB issued Accounting Standards
Update 2023-09, “Improvements to Income Tax Disclosures” (“ASU 2023-09”), which provides for additional disclosures
primarily related to the income tax rate reconciliations and income taxes paid. ASU 2023-09 requires entities to annually disclose the
income tax rate reconciliation using both amounts and percentages, considering several categories of reconciling items, including state
and local income taxes, foreign tax effects, tax credits and nontaxable or nondeductible items, among others. Disclosure of the reconciling
items is subject to a quantitative threshold and disaggregation by nature and jurisdiction. ASU 2023-09 also requires entities to disclose
net income taxes paid or received to federal, state and foreign jurisdictions, as well as by individual jurisdiction, subject to a five
percent quantitative threshold. ASU 2023-09 may be adopted on a prospective or retrospective basis and is effective for fiscal years beginning
after December 15, 2024 with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2023-09 would have
on its financial position, results of operations or cash flows.

21

The Company’s management does not believe
that any other recently issued, but