Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 86

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4A
Chunk 86
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 identify potential opportunities to increase future cash flows. The Board decided that the amendments should be effective for
public business entities for annual periods beginning after December 15, 2024.

In February 2024, the FASB issued ASU 2024-02, “ Codification
Improvements - Amendments to Remove References to the Concepts Statements”. The Board decided that the types of issues that
it will consider through this project are changes to clarify the Codification or correct unintended application of guidance that are not
expected to have a significant effect on current accounting practice or cost to most entities. An explanation of why each amendment in
this Update is being made is provided in the “ Amendments to the FASB Accounting Standards Codification” section. Thus, there
is no separate section for the Board’s basis for conclusions in this Update. These issues to remove references to various Concepts
Statements and their proposed amendments were included in Section A (“ Amendments to Remove References to the Concepts Statements”)
of the 2019 proposed Accounting Standards Update, Codification Improvements. Sections B and C (“ Amendments to Disclosure Sections
of the Codification” and “ Other Codification Improvements”) of that proposed Update were finalized in 2020. The issues
in this Update are numbered as they were in the 2019 proposed Update. In some cases, the Board decided to revise the amendments in this
Update from what was included in the 2019 proposed Update. Those changes were responsive to stakeholder feedback received on the 2019
proposed Update and, in many cases, resulted in more narrow changes than were proposed.

In March 2024, the FASB issued ASU 2024-01, “ Compensation-Stock
Compensation (Topic 718): Scope Application of Profits Interest and similar Awards”. For public business entities, the amendments
in this Update are effective for annual periods beginning after December 15.2024, and interim periods within those annual periods. For
all other entities, the amendments are effective for annual periods beginning after December 15,2025, and interim periods within those
annual periods. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available
for issuance. If an entity adopts the amendments in an interim period, it should adopt them as of the beginning of the annual period that
includes that interim period.

In November 2024, the FASB issued ASU 2024-03,
“ Income Statement - Reporting Comprehensive