ACV Auctions Inc. New Standards Disclosure
| Accounting Standard Update | Description | Required date of adoption | Effect on consolidated financial statements | ||||||||
| Accounting Standards Adopted | |||||||||||
Improvements to Income Tax Disclosures (ASU 2023-09) | The guidance enhances the transparency and decision usefulness of income tax disclosures. | December 31, 2025 | The Company retrospectively adopted the ASU effective December 31, 2025 and new disclosure requirements are included in Note 15 Income Taxes. While the standard requires additional disclosures, the standard did not have any impact on the Company's consolidated financial position, results of operations or cash flows. | ||||||||
| Accounting Standards Not Yet Adopted | |||||||||||
Reporting Comprehensive Income—Expense Disaggregation Disclosures (ASU 2024-03) | This guidance enhances the disaggregated disclosure of income statement expenses. | December 31, 2027 | The Company is currently evaluating the impact this guidance may have on the consolidated financial statements. | ||||||||
| Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (ASU 2025-06) | This update modernizes the guidance to reflect the software development approaches currently used. | December 31, 2028 | The Company is currently evaluating the impact this guidance may have on the consolidated financial statements. | ||||||||
Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASU 2025-05) | This update provides a practical expedient that assumes that current conditions as of the balance sheet date do not change for the remaining life of an asset when developing reasonable and supportable forecasts as part of estimating expected credit losses. | December 31, 2026 | The Company is currently evaluating the impact this guidance may have on the consolidated financial statements and whether the Company will adopt this practical expedient. | ||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 21, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 23, 2022 | |
About New Standards Disclosures
New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.
Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.