Company: FVN
Filing Date: 2025-03-10
Form Type: DRS/A
Source: 0001829126-25-001610
Chunk: 543

Company: Future Vision II Acquisition Corp.
Filing Date: 2025-03-10
Form: DRS/A
Chunk 543
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strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following
occurs: (1) the component of an entity or group of components of an entity meets the criteria to be classified as held for sale; (2)
the component of an entity or group of components of an entity is disposed of by sale; (3) the component of an entity or group of components
of an entity is disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spinoff).

For any component classified
as held for sale or disposed of by sale or other than by sale that qualify for presentation as a discontinued operation in the period,
the Company has reported. In accordance with FASB ASC 205, the results of operations of discontinued operation for the years ended September 30,
2023 and 2024 have been reflected separately in the Consolidated Statements of Income as a single line item, and cash flows from discontinued
operation for the years ended September 30, 2023 and 2024 were presented in Note 4.

Adoption of Accounting Standards Update (“ASU”) 2019-05

In May 2019, the FASB issued
ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit
Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial
assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic
326, Financial Instruments — Credit Losses, and made several consequential amendments to the Codification. Update 2016-13 also
modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value
is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments — Credit Losses — Available-for-Sale
Debt Securities. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect
the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition
relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar
financial assets. Furthermore, the targeted transition relief also may reduce the costs for some