Electromed, Inc. New Standards Disclosure
Recently Issued Accounting Standards
ASU 2023-07 - Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
The standard introduces increased disclosure requirements primarily related to significant segment expenses, along with disclosure of key criteria and metrics utilized by the Chief Operating Decision Maker (“CODM”). It is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted this standard for the year ended June 30, 2025 and expanded its disclosures as required under the standard.
ASU 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures
The standard introduces increased transparency about income tax information through the requirement of increased disclosures around specific categories in the rate reconciliation and requires additional information on reconciling items. It is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company currently expects to adopt this standard for its fiscal year ending June 30, 2026, and is evaluating the impact of adoption and additional disclosure requirements.
ASU 2024-03 - Reporting Comprehensive Income: Expense Disaggregation Disclosures
The standard introduces increased disclosure requirements for certain costs and expenses. It is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company currently expects to adopt this standard for its fiscal year ending June 30, 2027, and is evaluating the impact of adoption and additional disclosure requirements.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 26, 2025 | Showing above |
| 2024 | Aug 27, 2024 | |
| 2023 | Aug 22, 2023 | |
| 2022 | Aug 23, 2022 | |
| 2020 | Aug 25, 2020 | |
| 2019 | Aug 27, 2019 | |
| 2018 | Sep 25, 2018 | |
| 2017 | Sep 5, 2017 | |
| 2016 | Sep 6, 2016 | |
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.