Company: GRAN
Filing Date: 2025-03-14
Form Type: F-1/A
Source: 0001213900-25-023979
Chunk: 277

Company: Grande Group Ltd/HK
Filing Date: 2025-03-14
Form: F-1/A
Chunk 277
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 their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. For the Company’s consolidated subsidiaries, non -controllinginterests are a minority shareholder’s 49% ownership interest in Grande Securities. Non -controllinginterests are classified as a separate line item in the equity section of the Company’s unaudited interim condensed consolidated balance sheets and are separately disclosed in the Company’s unaudited interim condensed consolidated statements of operations to distinguish the interests from that of the Company, if any. Management has prepared the accompanying unaudited interim condensed consolidated financial statements and these notes in accordance to the US GAAP. The Company maintains its general ledger and journals with the accrual method accounting. Use of estimates The preparation of the unaudited interim condensed consolidated financial statements in conformity with the US GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the unaudited interim condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include the allowance for expected credit losses on accounts receivable, contract assets and other current assets, useful life of leasehold improvement and equipment, recognition and measurement of operating lease right -of -use(“ROU”) asset and operating lease liability and valuation allowance for deferred tax asset. Management makes these estimates using the best information available when the calculations are made; however, actual results could differ materially from those estimates. Accounting for the impairment of long-lived assets The Company annually reviews its long -livedassets for impairment or whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. Impairment may become obsolete from a difference in the industry, introduction of new technologies, or if the Company has inadequate working capital to utilize the long -livedassets to generate adequate profits. Impairment is present if the carrying amount of an asset is less than its expected future undiscounted cash flows. If an asset is considered impaired, a loss is recognized based on the amount by which the carrying amount exceeds the fair market value of the asset. Assets to be disposed of are reported lower the carrying amount or fair value fewer costs to selling. No impairment of long -livedassets was recognized for the six months ended September30, 2024 and 2023.

F-33

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) General and administrative expenses General and administrative expenses include employee benefit expense,