Company: CERO
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032134
Chunk: 2112

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 2112
---

informed by budgeted and forecasted expense information, along with actual expenses incurred to date. The measure of segment
assets is reported on the balance sheet as total assets. Disaggregated profit or loss information at the program or functional level
is not regularly provided to or relied upon by the CODM, as our integrated operating model emphasizes shared
resources and centralized decision-making. 

Recently adopted accounting standards

In November 2023, the
FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which
requires that an entity report segment information in accordance with Topic 280, Segment Reporting. The amendment in the ASU
is intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The
Company adopted ASU 2023-07 for the year ended December 31, 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