Appendix E — Roadmap Updates for 2024
The table below summarizes the substantive changes made in the 2024
edition of this Roadmap.
Section
|
Title
|
Description
|
---|---|---|
Measuring Significance When Previously
Issued Financial Statements Must Be Retrospectively
Adjusted
|
Updated Example
2-7 to clarify that a subsequent event for a
discontinued operation is not reflected in the balance sheet
because it is considered a nonrecognized event.
| |
Investment Test
|
Added Connecting
the Dots to discuss recent SEC staff
observations related to the application of the investment
test to significant acquisitions regarding contingent
consideration, acquisition-related costs, and AWMV.
| |
Form S-4 Financial Statement
Requirements
|
Updated to address (1) a registrant’s
consideration of paragraph 2005.5 of the FRM when
determining the reporting requirements for a previously
consummated unrelated significant business acquisition or a
probable unrelated significant business acquisition and (2)
the issuance and stay of the SEC’s final rule on
climate-related disclosures.
| |
Financial Statement and Audit Requirements
for Targets in SPAC Transactions
|
Updated to reflect the issuance of the SEC’s
final rule on financial reporting and disclosures for
SPACs.
| |
“Updating” Requirements for Registration
Statements and Proxy Statements
|
Clarified discussion related to the
application of Regulation S-X, Rules 3-06 and 3-12, on the
updating requirements for registration statements and proxy
statements.
| |
Properties Subject to Triple Net Leases
|
Updated to note that registrants should
consider Section 2340 of the FRM related to significant
tenant financial statements.
| |
Materiality Under ASC 805 Versus
Significance Under Rule 3-14
|
Updated to add considerations related to the
definition of a business under Regulation S-X for a real
estate acquisition.
| |
Pro Forma Balance Sheet
|
Updated to address the application of
Regulation S-X, Rules 6-07, 7-04, and 9-04 to captions in
the pro forma balance sheet.
|