Company: MKDWW
Filing Date: 2025-04-03
Form Type: 20-F
Source: 0001641172-25-002607
Chunk: 159

Company: MKDWELL Tech Inc.
Filing Date: 2025-04-03
Form: 20-F
Item: Item 19
Chunk 159
---
 and (2) provide additional information for reconciling items that meet a quantitative threshold. For public business
entities (PBEs), the new requirements will be effective for annual periods beginning after December 15, 2024. For entities other than
public business entities (non-PBEs), the requirements will be effective for annual periods beginning after December 15, 2025. Early adoption
is permitted for annual financial statements that have not yet been issued or made available for issuance. The ASU should be applied
prospectively. Retrospective application is permitted. The Company is currently evaluating the impact the adoption of ASU 2023-09 will
have on its consolidated financial statements and related disclosures.

In
November 2024, the Financial Accounting Standards Board (“ FASB”) issued Accounting Standards Update (“ ASU”) 2024-03,
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation
of Income Statement Expenses (“ ASU 2024-03”) which requires detailed disclosures in the notes to financial statements disaggregating
specific expense categories and certain other disclosures to provide enhanced transparency into the nature and function of expenses.
The FASB further clarified the effective date in January 2025 with the issuance of ASU 2025-01, Income Statement - Reporting Comprehensive
Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ ASU 2025-01”). ASU 2024-03
is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after
December 15, 2027, with early adoption permitted. The requirements should be applied on a prospective basis while retrospective application
is permitted. The Group does not expect to adopt this guidance early and does not expect the adoption of this ASU to have a material
impact on its future consolidated financial statements.

Other
accounting standards that have been issued by FASB that do not require adoption until a future date are not expected to have a material
impact on the consolidated financial statements upon adoption. The Company does not discuss recent standards that are not anticipated
to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

MKDWELL
TECH INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

(In
U. S. dollars, except share and per