Company: QSJC
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001683168-25-008383
Chunk: 41

Company: TANCHENG GROUP CO., LTD.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 41
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 total purchase for the three and nine months ended September 30, 2025 and 2024 are as follows:

    Schedule of purchase concentration 

    For the three months ended September 30, 

    2025  
    2024 

    Amount  
    % of total purchase  
    Amount  
    % of total purchase 
  
    Supplier A 
    $35,312  
     100%  
    $140,553  
     100% 

    For the nine months ended September 30, 

    2025  
    2024 

    Amount  
    % of total purchase  
    Amount  
    % of total purchase 
  
    Supplier A 
    $203,954  
     100%  
    $263,145  
     100% 

(n) Recent Accounting Pronouncements

In November 2023, the Financial Accounting Standards
Board (“FASB”) issued ASU 2023-07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable
segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the
Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment’s profit or loss. This
ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses
the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The
ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December
15, 2023. The Company adopted ASU 2023-07 as of January 1, 2024. The adoption of this guidance did not have a material impact on the Company’s
condensed consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, “Improvements
to Income Tax Disclosures” which is intended to simplify various aspects related to accounting for income taxes. ASU 2023-09 removes
certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application.
The amendments in ASU 2023-09 are effective for public business entities for fiscal years beginning after December 15, 2024, including