Company: JL
Filing Date: 2025-04-03
Form Type: 20-F/A
Source: 0001213900-25-028675
Chunk: 187

Company: J-Long Group Ltd
Filing Date: 2025-04-03
Form: 20-F/A
Chunk 187
---
 over the lives of the respective debt securities. In any case where fair value might fall below amortized cost, we would consider whether that security is other than temporarily impaired using all available information about the collectability of the security. We would not consider that an other than temporary impairment for a debt security has occurred if (1) we do not intend to sell the debt security, (2) it is not more likely than not that we will be required to sell the debt security before recovery of its amortized cost basis and (3) the present value of estimated cash flows will fully cover the amortized cost of the security. We would consider that an other than temporary impairment has occurred if any of the above mentioned three conditions are not met. F - 13 J-LONG GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED MARCH 31, 2024, 2023 AND 2022 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(cont.)

For a debt security for which
an other than temporary impairment is considered to have occurred, we would recognize the entire difference between the amortized cost
and the fair value in earnings if we intend to sell the debt security or it is more likely than not that we will be required to sell the
debt security before recovery of its amortized cost basis. If we do not intend to sell the debt security and it is not more likely than
not that we will be required to sell the debt security before recovery of its amortized cost basis, we would separate the difference between
the amortized cost and the fair value of the debt security into the credit loss component and the noncredit loss component. The credit
loss component would be recognized in earnings and the noncredit loss component would be recognized as a component of other comprehensive
income.

Deferred Offering Costs

Deferred offering costs consist
principally of all direct offering costs incurred by the Company, such as underwriting, legal, accounting, consulting, printing, and other
registration related costs in connection with the initial public Offering (“IPO”) of the Company’s ordinary shares.
The deferred costs are offset against the offering proceeds upon the completion of the IPO during the year.

Property, plant and equipment

Property, plant and equipment
is stated at historical cost less accumulated depreciation and impairment losses. Historical cost includes expenditure that is directly
attributable to the acquisition of the items.

Subsequent costs are included
in the asset’s carrying amount or recognized as a separate asset