Company: AOAO
Filing Date: 2025-10-16
Form Type: S-1/A
Source: 0001493152-25-018240
Chunk: 109

Company: Alpha One Inc.
Filing Date: 2025-10-16
Form: S-1/A
Chunk 109
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 on its financial
statements.

In November 2024, the FASB
issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):
Disaggregation of Income Statement Expenses”. The amendments in this ASU are intended to improve financial reporting by requiring
that public business entities disclose additional information about specific expense categories in the notes to financial statements
at interim and annual reporting periods. For interim and annual reporting periods, an entity shall disaggregate, in a tabular format
disclosure in the notes to financial statements, all relevant expense captions presented on the face of the income statement in
continuing operations into the purchases of inventory, employee compensation, depreciation, amortization, and depletion. This ASU is
effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15,
2027. Early adoption is permitted. The amendments in this Update should be applied either (1) prospectively to financial statements issued
for reporting periods after the effective date of this Update or (2) retrospectively to any or all prior periods presented in the financial
statements. We are currently evaluating the impact the adoption of ASU 2024-03 will have on its combined financial statements and related
disclosures.

In January 2025, the FASB
issued ASU 2025-01 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40).
The Board issued Update 2024-03 on November 4, 2024. Update 2024-03 states that the amendments are effective for public business entities
for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Following
the issuance of Update 2024-03, the Board was asked to clarify the initial effective date for entities that do not have an annual reporting
period that ends on December 31 (referred to as non-calendar year-end entities). Because of how the effective date guidance was written,
a non-calendar year-end entity may have concluded that it would be required to initially adopt the disclosure requirements in Update
2024-03 in an interim reporting period, rather than in an annual reporting period. The Board’s intent in the basis for conclusions
of Update 2024-03 is clear that all public business entities should initially adopt the disclosure requirements in the first annual reporting