Company: JOCM
Filing Date: 2025-05-05
Form Type: 10-K
Source: 0001641172-25-008460
Chunk: 107

Company: JOCOM HOLDINGS CORP.
Filing Date: 2025-05-05
Form: 10-K
Item: Item 1B
Chunk 107
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 to Income Tax Disclosures” to expand the
disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. The ASU 2023-09 is effective
for annual reporting periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the
impact of this ASU may have on its unaudited condensed consolidated financial statements and related disclosures.

The
Company does not expect that any other recently issued accounting pronouncements will have a significant effect on its condensed consolidated
financial statements.

11

Accounting
Standards Update 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic
220-40): Disaggregation of Income Statement Expenses:

In
November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses. The new standard requires entities to disclose
additional information about certain expenses, such as purchases of inventory, employee compensation, depreciation, intangible asset
amortization, as well as selling expenses included in commonly presented expense captions on the income statement. The FASB further clarified
the effective date in January 2025 with the issuance of ASU 2025-01, Income Statement – Reporting Comprehensive Income –
Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. The ASU is effective for fiscal years beginning
after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply this guidance either
on a retrospective or prospective basis, and early adoption is permitted.

The Company is currently evaluating this
guidance to determine the impact it may have on its consolidated financial statements and related disclosures.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK

We are a smaller reporting company as defined by Rule
12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA

The financial statements required by this item are
located in PART IV of this Annual Report.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
ON ACCOUNTING AND FINANCIAL DISCLOSURE

None.

ITEM