| Organization and Summary of Significant Accounting Policies | Organization and Summary of Significant Accounting Policies Alliance
Entertainment Holding Corporation (“Alliance”) was formed on August 9, 2010. The Company provides full-service distribution
of pre-recorded music, video movies, video games and related accessories, and merchandising to retailers and other independent customers
primarily in the United States. It provides product and commerce solutions to “brick-and-mortar”, e-commerce retailers, and
consumer direct websites, while maintaining trading relationships with manufacturers of pre-recorded music, video movies, video games
and related accessories. On
July 1, 2022, the Company added Think3Fold Ltd. to its portfolio. Consolidated financial statements are presented for Alliance Entertainment
Holding Corporation and business operations are conducted through seven subsidiaries. The Company’s corporate offices are headquartered
in Plantation, FL, with primary warehouse facilities located in Shepherdsville, KY and Shakopee, MN. On
February 10, 2023, Alliance, Adara Acquisition Corp. (“Adara”) and a Merger Sub consummated the closing of the transactions
contemplated by a Business Combination Agreement. Pursuant to the terms of the Business Combination Agreement, a business combination
of Legacy Alliance (Alliance Entertainment Holding Corporation pre-Merger, as defined below) and Adara was affected by the merger of
Merger Sub with and into Alliance (the “Merger”), with Alliance surviving the Merger as a wholly- owned subsidiary of Adara.
Following the consummation of the Merger on the closing date, Adara changed its name from Adara Acquisition Corp. to Alliance Entertainment
Holding Corporation (the “Company”). At
the closing of the Merger, each of the then issued and outstanding shares of Alliance common stock were cancelled and automatically converted
into the right to receive the number of shares of Adara common stock equal to the exchange ratio (determined in accordance with the Business
Combination Agreement). The Company’s 900 47,500,000 60,000,000 A
summary of the significant accounting policies consistently applied in the preparation of the consolidated financial statements: Basis
of Presentation The
consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally
accepted in the United States of America (U.S. GAAP). The consolidated financial statements include the accounts of Alliance Entertainment
Holding Corporation and its wholly owned subsidiaries. Significant intercompany transactions have been eliminated in consolidation. Liquidity For
the fiscal year ended June 30, 2023, Alliance disclosed substantial doubt regarding its ability to continue as a going concern, citing
operational losses, a working capital deficit, and the approaching December 31, 2023, maturity date of the Revolver with Bank of America
(the “Revolver”). On
December 21, 2023, the Company secured a new three-year 120 Revenue
Recognition The
Company enters into contracts with its customers for the purchase of products in the ordinary course of business. A contract with commercial
substance exists once the Company receives and accepts a purchase order under a sales contract. Payment terms on invoiced amounts generally
range from 0 to 90 days. Revenue from the sale and distribution of pre-recorded music, video, games, accessories, and other related products
are recognized when the performance obligations under the terms of a contract with its customer are satisfied, which occurs with the
transfer of control of the product. For the majority of the Company’s products, control is transferred, and revenue is recognized
when the product is shipped from the Company’s distribution center to the Company’s customers, which primarily consist of
retailers. For most of the Company’s distribution contracts, the Company is considered to be the principal to these transactions
and the revenue is recognized on a gross basis, since the Company is the primary obligor for fulfilling the promise to its customers
on these arrangements, has inventory risk, and has latitude in establishing prices. Additionally, the Company ships some of its products
to retailers on a consignment basis. The Company retains ownership of its products stored at these retailers. As the Company’s
products are sold by the retailer, ownership is transferred from the Company to the retailer. At that time, the Company invoices the
retailer and recognizes revenue for these consignment transactions. If a contract contains more than one performance obligation, the
transaction price is allocated to each performance obligation based on relative standalone selling price. Shipping and handling activities
are treated as a fulfillment activity rather than a promised service, and therefore, are not considered a performance obligation. Sales,
use, value-added, and other excise taxes the Company collects concurrent with revenue producing activities are excluded from revenue.
Incidental items that are immaterial in the context of the contract are recognized as expense when incurred. The
Company applies ASC 606, Revenue from Contracts with Customers
● Portfolio
approach practical expedient relative to the estimation of variable consideration.
● Shipping
and handling practical expedient to account for shipping and handling activities that occur after control of the related good
transfers as fulfillment activities.
● Costs
of obtaining a contract practical expedient to recognize the incremental costs of obtaining a contract as an expense when incurred if
the amortization period of the asset is one year or less.
● Sales
taxes practical expedient to exclude sales taxes and other similar taxes from the transaction price.
● Significant financing component
practical expedient Revenue
is recognized at the transaction price which the Company expects to be entitled to receive. When determining the transaction price, the
Company estimates variable consideration by applying the portfolio approach practical expedient under ASC 606. The primary sources of
variable consideration for the Company are rebate programs, incentive programs and product returns. The rebate and incentives are recorded
as a reduction to revenue at the time of the initial sale or when offered. The Company estimates variable consideration related to products
sold under its rebate and incentive programs using the expected value method, which is based on sales terms with customers, historical
experience, inventory levels, volume purchases, and known changes in relevant trends in the future. There are no material instances where
variable consideration is constrained and not recorded at the initial time of sale. Substantially
all of the Company’s sales are domestic and are made to customers under agreements permitting certain limited rights of return
based upon the prior months’ sales and vendor return rights. Except for video games and vinyl sales, which are not returnable,
generally it is the Company’s policy not to accept product returns that cannot be returned to the Company’s vendors.
Revenue from product sales is recognized net of estimated returns. Sales in the pre-recorded music and video movies industry
generally give certain Based
on historical returns, review of current catalog list and the change of mass merchant’s floor space and store locations carrying
the Company’s products, management provides for estimated net returns at the time of sale and other specific reserves when appropriate.
This is typically done using a twelve-month average return rate by product. The
Company has determined that the nature, amount, timing, and uncertainty of revenue and cash flows are most significantly affected by
the overall economic health of the consumer product industry in the United States. Cash Cash
includes all investments with original maturities of three months or less when purchased. The Company maintains its cash in bank deposit
accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. Trade
Receivables, Net The
Company grants credit to customers on credit terms in the ordinary course of business. Credit is extended based on an evaluation of a
customer’s financial condition, and collateral is generally not required. Trade receivables are carried at the original invoice
amount less estimates made for allowances for uncollectable accounts based on a periodic review of all outstanding amounts. Management
measures all expected losses based on a forward-looking expected loss model, which reflects probable losses based on historical experience,
current conditions, and reasonable and supportable forecasts. Trade receivables are written off against the allowance when they are deemed
uncollectable. Recoveries of trade receivables previously written off are recorded as a credit to the allowance for uncollectable accounts
when received. Inventory
and Inventory Reserves Inventory
is stated at the lower of cost, using the weighted average cost method, or net realizable value. Net realizable value is the estimated
selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Excess
or obsolete inventory reserves that reduce the cost basis of the assets are established when inventory is estimated to not be sellable
or returnable to suppliers based on product demand and product life cycle. Property
and Equipment, Net Property
and equipment are recorded at cost less accumulated depreciation. Depreciation and amortization are calculated using the straight-line
method over the asset’s estimated useful life. Costs of major additions and improvements are capitalized, while repair and maintenance
costs are charged to expense as incurred. When items are disposed of, the cost and accumulated depreciation are eliminated from the accounts,
and any gain or loss is reflected in the consolidated statements of operations. Depreciation
and Amortization Depreciation
is provided in amounts sufficient to allocate the cost of depreciable assets to operations over their estimated useful lives using the
straight-line method. The estimated useful lives are as follows: Schedule of Estimated Useful Lives
Asset
Class Useful
Life
Leasehold Improvements 5 10
Machinery and Equipment 3 7
Furniture and Fixtures 5 7
Capitalized Software 1 3
Equipment Under Capital Leases 5
Computer Equipment 2 5 Leasehold
improvements and equipment under capitalized leases are amortized over the shorter of the useful life of the asset or the life of the
lease. Goodwill
and Definite-Lived Intangible Assets, Net Goodwill
is assessed using either a qualitative assessment or quantitative approach to determine whether it is more likely than not that the fair
value of the reporting unit is less than the carrying amount. The qualitative assessment evaluates factors including macroeconomic conditions,
industry-specific and company-specific considerations, legal and regulatory environments, and historical performance. If the Company
determines that it is more likely than not that the fair value of a reporting unit is less than its carrying value, a quantitative assessment
is performed. Otherwise, no further assessment is required. The quantitative approach compares the estimated fair value of the reporting
units to it carrying amount, including goodwill. Impairment is indicated if the estimated fair value of the reporting unit is less than
the carrying amount of the reporting unit, and an impairment charge is recognized for the differential. The
Company completes its annual goodwill impairment tests in the fourth quarter, or whenever there are indicators that the fair value of
the reporting unit might be less than the carrying amount. For the years ended June 30, 2024 and 2023, the Company did not record any
impairment. Definite-Lived
intangible assets are stated at cost, less accumulated amortization. Amortization of customer relationships and lists is recorded using
an accelerated method over the useful lives of the related assets, which range from 10 15 5 15 Impairment
of Long-Lived Assets Recoverability
of long-lived assets, including property and equipment and certain identifiable intangible assets are evaluated whenever events or circumstances
indicate that the carrying amount of an asset may not be recoverable. Factors considered important which could trigger an impairment
review include but are not limited to significant underperformance relative to historical or projected future operating results, significant
changes in the manner of use of the assets or the strategy for the overall business, significant decrease in the market value of the
assets and significant negative industry or economic trends. In the event the carrying amount of the long-lived assets may not be recoverable
based upon the existence of one or more of the indicators, the assets are assessed for impairment based on the estimated future undiscounted
cash flows expected to result from the use of the asset and its eventual deposition. If the carrying amount of an asset exceeds the sum
of the estimated future undiscounted cash flow, an impairment loss is recorded for the excess of the asset’s carrying amount over
its fair value. There was no Use
of Estimates The
preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of
America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure
of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reporting period. Actual
results could differ from those estimates. Significant
estimates inherent in the preparation of the accompanying consolidated financial statements include management’s estimates of
sales returns, warrants fair value, rebates, goodwill impairment, and inventory valuation. On an ongoing basis, management evaluates
its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of
assets and liabilities. Fair
Value of Financial Instruments The
Company complies with ASC 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring
fair value in accordance with U.S. generally accepted accounting principles and expands disclosure requirements about fair value measurements.
Under ASC 820, there are three categories for the classification and measurement of assets and liabilities carried at fair value: Level
1: Valuation based on quoted market prices in active markets for identical assets or liabilities. Since valuations are based on quoted
prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree
of judgment. Examples include publicly traded equity securities and publicly traded mutual funds that are actively traded on a major
exchange or over-the-counter market. Level
2: Valuation based on quoted market prices of investments that are not actively traded or for which certain significant inputs are not
observable, either directly or indirectly. Examples include municipal bonds, where fair value is estimated using recently executed transactions,
bid asked prices and pricing models that factor in, where applicable, interest rates, bond spreads and volatility. Level
3: Valuation based on inputs that are unobservable and reflect management’s best estimate of what market participants would use
as fair value. Examples include limited partnerships and private equity investments. The
estimated fair value of cash, trade receivables, accounts payable, accrued expenses and other current liabilities are based on Level
1 inputs as the fair values approximate carrying amounts as of June 30, 2024, and 2023, based on the short-term nature and maturity of
these instruments. The
estimated fair values of subordinated shareholder debt and the credit facility is based on Level 2 inputs, which consist of interest
rates that are currently available to the Company for issuance of debt with similar terms and remaining maturities. As of June 30, 2024,
and 2023 the estimated fair value of the Company’s short and long-term debt approximates it carrying value due to market interest
rates charged on such debt or their short-term maturities. The
estimated fair value of the tangible and intangible assets acquired, and the liabilities assumed in connection with the acquisition of
Think3Fold were measured using Level 2 and Level 3 inputs. The
estimated fair value of warrants, and contingent shares is determined based on various valuation methodologies, including the Black-Scholes
option pricing model and other appropriate valuation techniques. These methodologies consider factors such as the exercise price, expected
volatility, expected term, and risk-free interest rate. Warrants Management
evaluates all of the Company’s financial instruments, including warrants issued to purchase its Class A Common Stock, to determine
if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to ASC 480 and ASC 815-15. The
classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is assessed
at issuance of the financial instrument and re-assessed at the end of each reporting period. As
a result of the Merger, the Company initially had 5,750,000 4,120,000 50,090 The
Private Placement Warrants and Representative Warrants are recognized as derivative liabilities in accordance with ASC 815-40. Accordingly,
the Company recognizes the Private Placement Warrants and Representative Warrants as liabilities at fair value in the consolidated balance
sheets with the warrant liabilities subject to re-measurement at each balance sheet date until exercised, and any change in fair value
recognized in the consolidated statements of operations. The
Company re-computes the fair value of the Private and the Representative Warrants at the issuance date and the end of each quarterly
reporting period. Such value computation includes subjective input assumptions that are consistently applied each period. If the Company
were to alter its assumptions or the numbers input based on such assumptions, the resulting fair value could be materially different.
Refer to Note 17, Warrants and Note 18, Fair Value for additional details of the Warrants and related valuation. Earnings
per Share Basic
Earnings Per Share is computed by dividing net income available to common shareholders by the weighted average shares outstanding during
the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue shares,
such as stock options, warrants, and unvested restricted stock units, were exercised and converted into common shares and the impact
would not be antidilutive. Diluted EPS is computed by dividing net income available to common shareholders by the weighted average shares
outstanding during the period, increased by the number of additional shares that would have been outstanding if the potential shares
had been issued and were dilutive. Contingently issuable shares are included in basic net loss per share only when there is no circumstance
under which those shares would not be issued. As
a result of the Merger (see Note 15), the Company has retroactively adjusted the weighted average shares outstanding prior to February
10, 2023, to give effect to the Exchange Ratio used to determine the number of shares of Common Stock into which they were converted. The
following table sets forth the computation of basic and diluted net earnings (loss) per share of Common Stock for the years ended June
30, 2024, and 2023 respectively: Schedule
of Computation of Basic and Diluted Net Earnings (loss) Per Share of Common Stock
Year
Ended Year
Ended
June
30, 2024 June
30, 2023
Net
Income (Loss) (in thousands) $ 4,581 $ (35,404 )
Basic
and diluted shares
Weighted-average
Class A Common Stock outstanding (basic) 50,828,548 48,138,393
Weighted-average
Class A Common Stock outstanding (diluted) 50,837,148 48,398,623
Income
(Loss) per share for Class A Common Stock
—
Basic and Diluted $ 0.09 $ (0.74 ) There
are
60,000,000 9,920,090 9,920,090 260,000 Advertising
Costs Advertising
costs, which consist primarily of mailers, catalogs, online marketing and other promotions, are expensed in the period in which the advertisement
or promotion occurs. Additionally, the Company maintains cooperative advertising agreements with certain vendors to include their logos
and product descriptions prominently in the catalogs and calendars. The fee revenues charged to the vendors for the cooperative advertising
arrangements are recorded as a reduction of advertising expense and any excess fees are recorded as a reduction of cost of goods sold.
Advertising costs, which are included as selling, general and administrative expenses, were $ 7.3 7.9 Deferred
Financing Costs Deferred
financing costs relating to the Company’s revolving credit facility are deferred and amortized ratably over the life of the debt
using the straight-line method. Deferred financing costs are included as an addition to interest expense on the consolidated statements
of operations and comprehensive income and are included in Revolving Credit Facility, Net on the Consolidated Balance Sheets. Shipping
and Handling The
Company accounts for shipping and handling activities as fulfillment activities. As such, the Company does not evaluate shipping and
handling as promised services to its customers. Shipping and handling costs are included in cost of revenues in the accompanying consolidated
statements of operations and comprehensive income. Foreign
Currency Translation and Transactions The
financial position and results of operations of the Company’s foreign subsidiary is measured using the local currency as the functional
currency. Assets and liabilities of this subsidiary are translated into United States dollars at the exchange rate in effect at each
period end. Income statement accounts are translated at the average rate of exchange prevailing during the period. Foreign currency translation
(loss) income totaled ($ 2 11 The
Company does not typically hedge its foreign exchange rate position. Realized gains or losses from foreign currency transactions are
included in operations as incurred. Business
Combinations — Valuation of Acquired Assets and Liabilities Assumed The
Company allocates the purchase price for each business combination, or acquired business, based upon (i) the fair value of the consideration
paid and (ii) the fair value of net assets acquired, and liabilities assumed. The determination of the fair value of net assets acquired
and liabilities assumed requires estimates and judgements of future cash flow expectations for the acquired business and the allocation
of those cash flows to identifiable tangible and intangible assets. Fair values are calculated by applying estimates related to Internal
Rate of Return (IRR) and Weighted Average Cost of Capital (WACC) assumptions as well as incorporating expected cash flows into industry
standard valuation techniques. Goodwill is the amount by which the purchase price consideration exceeds the fair value of tangible and
intangible assets acquired, less assumed liabilities. Intangible
assets, such as customer relationships and trade names, when identified, are separately recognized and amortized over their estimated
useful lives, if considered definite lived. Acquisition costs are expensed as incurred and are included in the consolidated statements
of operations and comprehensive income. Leases The
Company is a lessee in multiple noncancelable operating and financing leases. If the contract provides the Company with the right to
substantially all the economic benefits and the right to direct the use of the identified asset, it is generally considered to be or
contain a lease. Right-of-Use (ROU) assets and lease liabilities are recognized at the lease commencement date based on the present value
of the future lease payments over the expected lease term. The ROU asset is also adjusted for any lease prepayments made, lease incentives
received, and initial direct costs incurred. The
lease liability is initially and subsequently recognized based on the present value of its future lease payments. Variable payments are
included in the future lease payments when those variable payments depend on an index or a rate. Increases (decreases) to variable lease
payments due to subsequent changes in an index or rate are recorded as variable lease expense (income) in the future period in which
they are incurred. The
discount rate used is the implicit rate in the lease contract, if it is readily determinable, or the Company’s incremental borrowing
rate. The Company uses the incremental borrowing rate based on the information available at the commencement date for all leases. The
Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow
an amount equal to the lease payments under similar terms and in a similar economic environment. The
ROU asset for operating leases is subsequently measured throughout the lease term at the amount of the remeasured lease liability (i.e.,
present value of the remaining lease payments), plus unamortized initial direct costs, plus (minus) any prepaid (accrued) lease payments,
less the unamortized balance of lease incentives received, and any impairment recognized. Operating leases with fluctuating lease payments:
For operating leases with lease payments that fluctuate over the lease term, the total lease costs are recognized on a straight-line
basis over the lease term. The ROU asset for finance leases is amortized on a straight-line basis over the lease term. For
all underlying classes of assets, the Company has elected to not recognize ROU assets and lease liabilities for short-term leases that
have a lease term of 12 months or less at lease commencement and do not include an option to purchase the underlying asset that the Company
is reasonably certain to exercise. Leases containing termination clauses in which either party may terminate the lease without cause
and the notice period is less than 12 months are generally deemed short-term leases with lease costs included in short- term lease expense.
The Company recognizes short-term lease cost on a straight-line basis over the lease term. Variable
Interest Entity The
Company evaluates its ownership, contractual, and other interests in entities to determine if it has any variable interest in a variable
interest entity (VIE). These evaluations are complex, involve judgment, and the use of estimates and assumptions based on available historical
information, among other factors. If the Company determines that an entity in which it holds a contractual, or ownership, interest is
a VIE and that the Company is the primary beneficiary, the Company consolidates such entity in its consolidated financial statements.
The primary beneficiary of a VIE is the party that meets both of the following criteria: (i) has the power to make decisions that most
significantly affect the economic performance of the VIE; and (ii) has the obligation to absorb losses or the right to receive benefits
that in either case could potentially be significant to the VIE. Management performs ongoing reassessments of whether changes in the
facts and circumstances regarding the Company’s involvement with a VIE will cause the consolidation conclusion to change. Changes
in consolidation status are applied prospectively. The Company evaluated its transactions with a related party included in Note 12 and
concluded that the arrangements do not result in variable interests and do not require consolidation of any of the related party entities. Concentrations Schedule
of Concentration of Credit Risk Customers:
Year Ended Year Ended
Revenues June 30, 2024 June 30, 2023
Customer #1 17.8 % 23.1 %
Customer #2 11.0 % -
Customer #3 10.2 % -
* Less than 10%
Receivables June 30, 2024 June 30, 2023
Customer #1 20.2 % 15.5 %
Customer #2 12.3 % 12.1 %
Customer #3 - 10.5 %
* Less than 10% Suppliers:
Year Ended Year Ended
Purchases June 30, 2024 June 30, 2023
Supplier #1 21.1 % 14.6 %
Supplier #2 18.4 % 12.9 %
Supplier #3 10.4 % -
* Less than 10%
Payables June 30, 2024 June 30, 2023
Supplier #1 15.8 % 12.3 %
Supplier #2 12.3 %
Supplier #3 10.6 %
* Less than 10% Segments Operating
segments are defined as components of an enterprise where discrete financial information is available and evaluated regularly by the
chief operating decision maker or decision-making group, in deciding how to allocate resources and in assessing performance. The Company’s
chief operating decision makers (CEO and Executive Chairman) manage the business, allocate resources, and assess performance on a consolidated
basis. Accordingly, the Company has one Accounting
Pronouncements Recently
Issued Accounting Pronouncements In
October 2021, The FASB issued ASU No. 2021-08, Accounting for contract Assets and Contract Liabilities from contracts with customers
(Topic 805) (“ASU 2021-08”). ASU 2021-08 requires an acquirer in a business combination to recognize and measure contract
assets and contract liabilities (deferred revenue) from acquired contracts using the revenue recognition guidance in Topic 606. At the
acquisition date, the acquirer applies the revenue model as if it had originated the acquired contracts. ASU 2021-08 is effective for
annual periods beginning after December 15, 2022, including interim periods within those fiscal years. The company adopted this ASU using
the prospective approach method in July 2023. There have been no acquisitions since adoption and thus did not have a material impact
on the Company’s condensed consolidated financial statements. Recently
Issued but Not Yet Adopted Accounting Pronouncements Accounting
Standard Update 2024-02, In 2024, Codification Improvements—Amendments to Remove References to the Concepts Statements. The Financial
Accounting Standards Board (FASB) issued ASU 2024-02, which updates accounting standards for revenue recognition (ASC 606), lease accounting
(ASC 842), and impairment of long-lived assets (ASC 360). The ASU provides enhanced guidance for estimating variable consideration, accounting
for contract modifications, determining lease terms, and simplifying impairment testing for long-lived assets. It also introduces increased
disclosure requirements for financial instruments and derivatives. ASU 2024-02 is effective for fiscal years beginning after December
15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this ASU on its financial statements. Accounting
Standard Update 2024-01 In 2024, Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar
Awards. The Financial Accounting Standards Board (FASB) issued ASU 2024-01, which introduces updates to accounting standards related
to the classification and measurement of financial instruments under ASC 320. The update primarily focuses on clarifying guidance for
equity securities, debt instruments, and other financial assets, particularly in the areas of fair value measurement and impairment recognition.
It aims to improve consistency and comparability in the reporting of financial instruments by refining the criteria for classifying securities
and enhancing the methodology for recognizing and measuring impairments. ASU 2024- 01 also mandates additional disclosures to provide
greater transparency around the valuation techniques and assumptions used in determining the fair value of financial instruments. The
update is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating
the impact of this ASU on its financial statements and disclosures. Accounting
Standard Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”). In December 2023, the FASB issued ASU 2023-09,
which requires more detailed income tax disclosures. The guidance requires entities to disclose disaggregated information about their
effective tax rate reconciliation as well as expanded information on income taxes paid by jurisdiction. The disclosure requirements will
be applied on a prospective basis, with the option to apply them retrospectively. The standard is effective for fiscal years beginning
after December 15, 2024, with early ado |
