Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 170

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 170
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  $:             7.8000                        7.8000                    7.8000                

Foreign
currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other
than the functional currency of the respective subsidiary. Foreign currency denominated financial assets and liabilities are re-measured
at the balance sheet date exchange rate. Exchange gains and losses resulting from those foreign currency transactions denominated in
a currency other than the functional currency are recorded in the consolidated statements of operations.

F-9

  GRANDE                                      
  GROUP LIMITED                               
  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  
  FOR THE YEARS ENDED MARCH                   
  31, 2025, 2024 and 2023                     
                                              
  (Stated                                     
  in US Dollars)                              
 ──────────────────────────────────────────────

NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Adoption
of new accounting standard

In November, 2023, the FASB issued Accounting
Standards Update No. 2023-07, Improvements to Reportable Segment Disclosures (“ ASU 2023-07”). ASU 2023-07 amends ASC
280, Segment Reporting (“ ASC 280”) to expand segment disclosures by requiring disclosure of significant segment expenses that
are regularly provided to the Company’s chief operating decision maker (“ CODM”), the amount and description of other
segment items, the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or
loss in assessing segment performance and deciding how to allocate resources. ASU 2023-07 further permits disclosure of more than one
measure of segment profit or loss and extends the full disclosure requirements of ASC 280 to companies with single reportable segments.
The Company adopted ASU 2023-07 on April 1, 2024, which was applied retrospectively to all prior periods presented. See Note 18 for further
information.

Accounts
receivables, net

Accounts receivable, net includes amounts billed
under the contract terms. The amounts are stated at amortized cost less an allowance for expected credit loss as needed. The Company maintains
an allowance for expected credit loss to provide for the estimated number of receivables that will not be collected. The Company assess
the allowance by pooling receivables that have similar risk characteristics and evaluates