Company: ABLV
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001213900-25-034677
Chunk: 193

Company: Able View Global Inc.
Filing Date: 2025-04-23
Form: 20-F
Item: Item 19
Chunk 193
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 December 31, 2024 and 2023,
the Company did not record return allowance because the Company did not expect a significant reversal in the amount of cumulative revenue.

Provision of operation services

The Company also generated revenues from provision
of operation services for online stores owned by customers. The operation services cover marketing and promotion of cosmetics products,
warehouse management, logistics of products, and customer relationship services. The Company identifies a single performance obligation
from contracts. The transaction price is determined by a fixed percentage of sales volume. There were no variable considerations, significant
financing components or payments to customers in the agreements with customers. The Company recognizes revenues over time when service
is provided. The Company has a right to considerations from the customers in an amount that corresponds directly with the value the Company’s
performance completed to date. The Company adopted practical expedient under ASC 606-10-55-18, and recognized revenues from provision
of operation services based on amounts invoiced to the customers.

F-14

ABLE VIEW GLOBAL INC.

2. SUMMARY OF
SIGNIFICANT ACCOUNTING POLICIES(cont.)

Revenue recognition
(cont.)

Contract balances

The Company classifies its right to consideration
in exchange for services transferred to a customer as either a receivable or a contract asset. A receivable is a right to consideration
that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the
passage of time. The Company recognizes accounts receivable in its consolidated balance sheets when it performs a service in advance of
receiving consideration and it has the unconditional right to receive consideration. A contract asset is recorded when the Company has
transferred services to the customer before payment is received or is due, and the Company’s right to consideration is conditional
on future performance or other factors in the contract. As of December 31, 2024 and 2023, the Company did not record contract assets.

The Company capitalizes incremental costs incurred
to fulfill contracts that (i) relate directly to the contract, (ii) are expected to generate resources that will be used to
satisfy the performance obligation under the contract, and (iii) are expected to be recovered through revenue generated under the
contract. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable
based on the current contract estimates. As of December 31, 2024 and 2023, the Company had no deferred contract