Super League Enterprise, Inc. New Standards Disclosure

ASU

Description

Date Adopted

Income Taxes (Topic 740): Improvements to Income Tax Disclosures

(ASU 2023-09)

This ASU requires that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The amendment in the ASU is intended to enhance the transparency and decision usefulness of income tax disclosures.

The Company adopted this guidance on a prospective basis for annual periods beginning after December 15, 2024. Accordingly, the financial statements for prior periods have not been adjusted to reflect the adoption of this standard.

January 1, 2025

ASU

Description

Effective Date

Interim Reporting (Topic 270): Narrow-Scope Improvements

(ASU 2025-11)

The amendments in this update are intended to enhance clarity and consistency in interim reporting disclosures. The update improves the navigability of interim reporting guidance, provides a comprehensive list of required disclosures, and includes a new disclosure principle for reporting material events occurring after the most recent annual period.

The Company is currently evaluating the effect of adoption of this update on the Company’s financial statements.

Fiscal years beginning after December 15, 2027, and interim periods within those fiscal years

Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments

(ASU 2024-04)

This ASU clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. Under the amendments, to account for a settlement of a convertible debt instrument as an induced conversion, (1) an inducement offer is required to preserve the form and amount of consideration issuable upon conversion in accordance with the terms of the existing debt instrument, (2) the assessment of the form and amount of consideration in the inducement offer should be performed as of the date the inducement offer is accepted by the holder, and (3) issuers that have exchanged or modified a convertible debt instrument within the preceding 12 months should use the terms that existed 12 months before the inducement offer was accepted when determining whether induced conversion accounting should be applied.

Early adoption is permitted. The Company is currently evaluating the impact this standard will have on its financial statements and related disclosures.

Fiscal years beginning after December 15, 2025, and interim reporting periods within those annual reporting periods

Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses

(ASU 2024-03)

This ASU requires that an entity disaggregate relevant expense captions presented on the face of the income statement into natural expense categories within the footnotes of the financial statements. In addition, a separate disclosure of selling expense is required to be presented. The ASU is intended to allow stakeholders to better understand the components of an entity’s expenses.

Early adoption is permitted. The Company is currently evaluating the impact this standard will have on its financial statements and related disclosures.

Fiscal years beginning after December 15, 2026

Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets

(ASU 2025-05)

This standard allows entities to apply a practical expedient when estimating expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. 

Early adoption is permitted, and the standard is to be applied prospectively. The Company is currently evaluating the impact of the adoption of this standard.

Fiscal years beginning after December 15, 2025, including interim periods within those fiscal years

Intangibles - Goodwill and Other – Internal - Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software

(ASU 2025-06)  

This standard updates the recognition model for internal-use software by eliminating the project stage framework and requiring capitalization once projects are approved and completion is probable, and also clarifies related disclosure requirements. 

Early adoption permitted. The Company is currently evaluating the impact of the adoption of this standard.

Fiscal years beginning after December 15, 2027, including interim periods within those years