Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 198

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 198
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 and Simplification
initiative which amend the disclosure or presentation requirements of codification subtopic 230-10 Statement of Cash Flows - Overall,
250-10 Accounting Changes and Error Corrections - Overall, 260-10 Earnings Per Share - Overall, 270-10 Interim Reporting - 
Overall, 440-10 Commitments - Overall, 470-10 Debt - Overall, 505-10 Equity - Overall, 815-10 Derivatives and Hedging - Overall,
860-30 Transfers and Servicing - Secured Borrowing and Collateral, 932-235 Extractive Activities - Oil and Gas - Notes to
Financial Statements, 946-20 Financial Services - Investment Companies - Investment Company Activities, and 974-10 Real Estate - Real
Estate Investment Trusts - Overall. The amendments represent changes to clarify or improve disclosure and presentation requirements
of above subtopics. Many of the amendments allow users to more easily compare entities subject to the SEC’s existing disclosures
with those entities that were not previously subject to the SEC’s requirements. Also, the amendments align the requirements in the
Codification with the SEC’s regulations. For entities subject to existing SEC disclosure requirements or those that must provide
financial statements to the SEC for securities purposes without contractual transfer restrictions, the effective date aligns with the
date when the SEC removes the related disclosure from Regulation S-X or Regulation S-K. Early adoption is not allowed. For all other entities,
the amendments will be effective two years later from the date of the SEC’s removal. The Company is currently evaluating the impact
of the update on the Company’s consolidated financial statements and related disclosures.

In December 2023, the FASB
issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires the annual
financial statements to include consistent categories and greater disaggregation of information in the rate reconciliation, and income
taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for public business entities for annual periods beginning
after December 15, 2024, and interim periods within those annual periods; early adoption is permitted. Adoption is either with a
prospective method or a fully retrospective method of transition. The Company is currently evaluating the impact of the update on the
Company’s consolidated financial statements and related disclosures.

In November 2024, the FASB
issued ASU 2024-04, Debt - Debt