Company: BRID
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001493152-25-009592
Chunk: 71

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 accounts receivable.

In November 2023, the FASB issued ASU No. 2023-07,
Segment Reporting – Improvements to Reportable Segments Disclosures. ASU No. 2023-07 enhances disclosures of significant segment
expenses by requiring disclosure of significant segment expenses regularly provided to the chief operating decision maker (CODM), extending
certain annual disclosures to interim periods, and permitting more than one measure of segment profit or loss to be reported under certain
conditions. ASU No. 2023-07 is effective for the Company in fiscal years beginning after December 15, 2023, and interim periods within
fiscal years beginning after December 15, 2024. Early adoption is permitted, including adoption in any interim periods for which financial
statements have not been issued. The Company is currently evaluating the guidance and its impact on the financial statements.

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In
December 2023, the FASB issued ASU No. 2023-09, Income Taxes – Improvements to Income Tax Disclosures. ASU 2023-09 is designed
to strengthen the clarity and interpretation of income tax disclosures in order to better assess and understand the impact of taxes on
an entity’s operations including risk and opportunities. ASU 2023-09 is effective for the Company in fiscal years beginning after
December 15, 2024, our fiscal year 2026, and will be applied prospectively. The Company is currently evaluating the guidance and its
impact to the financial statements.

In
March 2024, the SEC adopted rules to develop standardized climate-related disclosures by publicly traded companies, including the emission
of greenhouse gases. The rules are currently effective for the Company in the fiscal year beginning in 2027. However, as a result of
pending legal challenges, the actual timing of effectiveness of the rules and applicable phase-in periods, as well as whether portions
of the rules will remain in effect after the legal challenges, are uncertain. The Company is currently evaluating the guidance and its
impact on the financial statements.

In
November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation
Disclosures – Disaggregation of Income Statement Expenses. ASU 2024-03 seeks to separately disaggregate expenses on inventory,
employee compensation, depreciation and other items included within each income statement line item that contains these expenses. ASU