Interim Reporting for Non-Public Entities: ASU 2025-11

Interim reporting under FASB Accounting Standards Codification (FASB ASC) 270, Interim Reporting,originates from APB 28 which was issued in 1973. APB 28, Interim Financial Reporting,was issued to provide guidance on the accounting and disclosure issues applicable to interim reporting for public companies. As noted in Basis for Conclusion (BC)6 of Accounting Standards Update (ASU) 2025-11, Interim Reporting (Topic 207): Narrow-Scope Improvements, much of the current guidance in FASB ASC 270 comes from APB 28. Standards setting activity since APB 28