Company: LHI
Filing Date: 2025-08-08
Form Type: F-1/A
Source: 0001213900-25-073646
Chunk: 252

Company: Living Homeopathy International Ltd.
Filing Date: 2025-08-08
Form: F-1/A
Chunk 252
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B issued ASU 2024-02,
“Codification Improvements — Amendments to Remove References to the Concepts Statements”. This update contains amendments
to the Codification that remove references to various FASB Concepts Statements. These changes remove references to various Concepts Statements
and the amendments apply to all reporting entities within the scope of the affected accounting guidance. The amendments in this Update
are effective for public business entities for fiscal years beginning after December 15, 2024. Early application of the amendments in
this Update is permitted for any fiscal year or interim period for which financial statements have not yet been issued (or made available
for issuance). The Company believes the future adoption of this ASU is not expected to have a material impact on its consolidated financial
statements.

In November 2024, the FASB issued ASU 2024-03, Income
Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income
Statement Expenses, which requires incremental disclosures about specific expense categories, including but not limited to, purchases
of inventory, employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning
after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and
the amendments may be applied either prospectively or retrospectively. Management is currently evaluating this ASU to determine its impact
on the Company’s disclosures.

In January 2025, the FASB issued ASU 2025-01
Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40). The FASB issued
ASU 2024-03 on November 4, 2024. ASU 2024-03 states that the amendments are effective for public business entities for annual reporting
periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Following the issuance of
ASU 2024-03, the FASB was asked to clarify the initial effective date for entities that do not have an annual reporting period that ends
on December 31 (referred to as non-calendar year-end entities). Because of how the effective date guidance was written, a non-calendar
year-end entity may have concluded that it would be required to initially adopt the disclosure requirements in ASU 2024-03 in an interim