Company: IMG
Filing Date: 2025-07-21
Form Type: 10-K
Source: 0001641172-25-020300
Chunk: 1013

Company: CIMG Inc.
Filing Date: 2025-07-21
Form: 10-K
Item: Item 9A
Chunk 1013
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 simplifies the accounting for convertible instruments by reducing the number of accounting models available for
convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible
instruments and requires the use of the if-converted method. The amendments in this Update are effective for public business entities
that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies
as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all
other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those
fiscal years. Early adoption is permitted.

 In
November 2023,the FASB issued ASU 2023-07, Segment Reporting-Improvements to Reportable Segment Disclosures. The amendments in this Update
improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments
in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after
December 15, 2024. Early adoption is permitted. A public entity should apply the amendments in this Update retrospectively to all prior
periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods
should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Group adopted ASU
2023-07 in the consolidated financial statements for the year ended December 31, 2024. The Company concluded that it has no material
impact on the consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Improvements
to Income Tax Disclosures, which applies to all entities subject to income taxes. ASU 2023-09 requires disaggregated information about
a reporting entity’s effective tax rate reconciliation as well as information on income
taxes paid. For public business entities, ASU 2023-09 will be effective for annual periods beginning after December 15, 2024. For entities
other than public business entities, the requirements will be effective for annual periods beginning after December 15, 2025. The guidance
will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company
is currently evaluating the impact of these