Company: LRHC
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112656
Chunk: 18

Company: La Rosa Holdings Corp.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 18
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under Topic 606. The amendments will be effective for annual reporting periods beginning after December 15, 2025, and interim reporting
periods within those annual reporting periods. Early adoption is permitted in both interim and annual reporting periods in which financial
statements have not yet been issued or made available for issuance. The Company is currently evaluating the impact that the adoption
of this new standard will have on its consolidated financial statements.

In
May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining the Accounting
Acquirer in the Acquisition of a Variable Interest Entity. The amendments in this Update require an entity involved in an acquisition
transaction effected primarily by exchanging equity interests when the legal acquiree is a VIE that meets the definition of a business
to consider the factors in paragraphs 805-10-55-12 through 55-15 to determine which entity is the accounting acquirer. The amendments
in this Update are effective for all entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods
within those annual reporting periods. The Company is currently evaluating the impact that the adoption of this new standard will have
on its consolidated financial statements. A Variable Interest Entity (VIE) is a legal entity in which an investor holds a controlling
interest that is not based on majority voting rights.

In
January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures
(Subtopic 220-40)- Clarifying the Effective Date. The amendment in this Update amends the effective date of Update 2024-03 to clarify
that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and
interim periods within annual reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact that
the adoption of this new standard will have on its consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740)-Improvements to Income Tax Disclosures. This update aims to enhance the transparency and usefulness of
income tax disclosures for investors. The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation
and income taxes paid. Public business entities (PBEs) will be required