Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 385

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 385
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 accounted for in accordance with Accounting Standards Update (“ASU”) No. 2014-09,
Revenue from Contracts with Customers (Topic 606) (“ASC Topic 606”).

ASC Topic 606 provided the following overview
of how revenue is recognized from the Company’s contracts with customers: The Company recognizes revenue to depict the transfer
of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in
exchange for those goods or services.

Step 1: Identify the contract(s) with a customer.

Step 2: Identify the performance obligations in
the contract.

Step 3: Determine the transaction price –
The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring
promised goods or services to a customer.

Step 4: Allocate the transaction price to the
performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on
the basis of the relative standalone selling prices of each distinct good or service promised in the contract.

Step 5: Recognize revenue when (or as) the entity
satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring
a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized
is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically
for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer).

Certain portion of the Company’s income
is derived from contracts with customers, and as such, the revenue recognized depicts the transfer of promised goods or services to its
customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.
The Company considers the terms of the contract and all relevant facts and circumstances when applying this guidance. The Company’s
revenue recognition policies are in compliance with ASC Topic 606, as follows:

Commissions

The Company earns commissions from the sale of
investment products to customers, who are insurance companies and fund houses. The Company enters into commission agreements with customers
which specify the key terms and conditions of the arrangement. Commissions are separately negotiated for each transaction and generally
do not include rights of return, credits or discounts, rebates, price protection or other similar privileges, and typically paid on or
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