Marygold Companies, Inc. New Standards Disclosure
Recent Accounting Pronouncements
In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). The guidance expands the disclosures required for reportable segments in our annual and interim consolidated financial statements, primarily through enhanced disclosures about significant segment expenses. The standard became effective for us beginning with our annual reporting for fiscal year 2025 and interim periods thereafter. The adoption of the new standard did not have a material impact on our segment reporting disclosures.
In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The guidance requires disclosure of disaggregated income taxes paid, prescribes standardized categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. The standard will be effective for us beginning with our annual reporting for fiscal year 2026, with early adoption permitted. We are currently evaluating the impact of this standard on our income tax disclosures.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 19, 2025 | Showing above |
| 2024 | Sep 18, 2024 | |
| 2023 | Sep 25, 2023 | |
| 2022 | Sep 28, 2022 | |
| 2021 | Sep 22, 2021 | |
| 2020 | Sep 28, 2020 | |
| 2019 | Sep 30, 2019 | |
| 2018 | Sep 28, 2018 | |
| 2017 | Oct 13, 2017 | |
| 2016 | Oct 21, 2016 | |
| 2015 | Oct 9, 2015 | |
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.