Company: FVN
Filing Date: 2025-05-30
Form Type: S-4/A
Source: 0001829126-25-004067
Chunk: 599

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-05-30
Form: S-4/A
Chunk 599
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’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments.

The Company uses the management approach to determine reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Company’s CODM has been identified as the CEO, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company.

Based on management’s assessment, the Company determined that it has two operating segments and therefore two reportable segments as defined by ASC 280, which are Martech Services and Software development services. All the Company’s net revenues were generated in the PRC and Hong Kong.

Recently issued accounting pronouncements

In
November, 2023, the FASB issued ASU 2024-03, “Income Statement—Reporting Comprehensive Income (Subtopic 220-40): Disaggregation
of Income Statement Expenses.” This pronouncement introduces new disclosure requirements aimed at enhancing transparency in financial
reporting by requiring disaggregation of specific income statement expense captions. Under the new guidance, entities are required to
disclose a breakdown of certain expense categories, such as: employee compensation; depreciation; amortization, and other material components.
The disaggregated information can be presented either on the face of the income statement or in the notes to the financial statements,
often using a tabular format. The amendments will be effective for fiscal years beginning after December 15, 2025, and interim periods
within those fiscal years. Early adoption is permitted. In January 2025, the FASB issued ASU 2025-01, which revises the effective date
of ASU 2024-03 (on disclosures about disaggregation of income statement expenses) “to clarify that all public business entities
are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting
periods beginning after December 15, 2027”. Entities within the ASU’s scope are permitted to early adopt the ASU. The Company
is currently in the process of evaluating the disclosure impact of adopting ASU 2024-03.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which intended to improve reportable segment disclosure