Company: CHOW
Filing Date: 2025-03-19
Form Type: DRS/A
Source: 0001493152-25-010898
Chunk: 263

Company: ChowChow Cloud International Holdings Ltd
Filing Date: 2025-03-19
Form: DRS/A
Chunk 263
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U 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The amended guidance
requires incremental reportable segment disclosures, primarily about significant segment expenses. The amendments also require entities
with a single reportable segment to provide all disclosures required by these amendments, and all existing segment disclosures. The amendments
will be applied retrospectively to all prior periods presented in the unaudited condensed consolidated financial statements and
is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024,
with early adoption permitted. The Company is currently in the process of evaluating the impact this amended guidance may have on the
footnotes to its unaudited condensed consolidated financial statements

ASC 740 (Income Taxes): In December 2023, FASB issued
ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” This update requires additional quantitative
and qualitative disclosures about income taxes to provide financial statement users with greater transparency regarding an entity’s
tax risk and tax planning strategies. The ASU is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted.
The Company plans to adopt this guidance effective January 1, 2025, and does not anticipate any material impact on its unaudited condensed
consolidated financial statements.

In December 2019, FASB issued ASU 2019-12, “Income
Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This update simplifies various areas of accounting for income
taxes, including removing certain exceptions under ASC 740 and simplifying the accounting for franchise taxes partially based on income.
The Company adopted ASU 2019-12 effective April 1, 2021, and applied the amendments as required either retrospectively or prospectively,
based on the specific provision. The adoption of this ASU did not have a material impact on the Company’s unaudited condensed
consolidated financial statements.

In July 2023, the FASB issued ASU 2023-07, Segment
Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in ASU 2023-07 improve reportable segment disclosure
requirements, primarily through enhanced disclosures about significant segment expenses, The amendments in ASU 2023-07 improve financial
reporting by requiring disclosure of incremental segment