Company: VEEAW
Filing Date: 2025-01-15
Form Type: 424B3
Source: 0001213900-25-003888
Chunk: 245

Company: VEEA INC.
Filing Date: 2025-01-15
Form: 424B3
Chunk 245
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 not affect the recognition, measurement or financial statement presentation of obligations covered by supplier finance programs. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, except for the amendment on roll-forward information, which is effective for fiscal years beginning after December 15, 2023. We adopted the ASU on January 1, 2023, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements.

Recent Accounting Pronouncements
Not Yet Adopted

In December 2023, the FASB issued
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories
in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold. Further, the ASU requires additional
disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction. The new standard is effective for annual
periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively. Early adoption is permitted.
The adoption of this guidance will result in the Company being required to include enhanced income tax related disclosures. The Company
is currently evaluating the impact this standard will have on its condensed consolidated financial statements.

In November 2023, the FASB issued
ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU includes amendments that expand
the existing reportable segment disclosure requirements and requires disclosure of (i) significant expense categories and amounts by
reportable segment as well as the segment’s profit or loss measure(s) that are regularly provided to the chief operating decision
maker (the “CODM”) to allocate resources and assess performance; (ii) how the CODM uses each reported segment profit or loss
measure to allocate resources and assess performance; (iii) the nature of other segment balances contributing to reported segment profit
or loss that are not captured within segment revenues or expenses; and (iv) the title and position of the individual or name of the group
or committee identified as the CODM. This guidance requires retrospective application to all prior periods presented in the financial
statements and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after
December 15, 2024. Early adoption is permitted. The