Company: BGHL
Filing Date: 2025-10-01
Form Type: F-1/A
Source: 0001213900-25-094318
Chunk: 215

Company: BILLION GROUP HOLDINGS Ltd
Filing Date: 2025-10-01
Form: F-1/A
Chunk 215
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 a wide range of matters, including, among others, government investigations, shareholder lawsuits, and non -incometax matters. An accrual for a loss contingency is recognized when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. If a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, is disclosed. As at June 30, 2025 and December 31, 2024, the Group had no such potential material loss contingency. (o)Recently issued accounting pronouncements In November 2023, the FASB issued ASU No. 2023 -07, Improvements to Reportable Segment Disclosures (Topic 280). This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the CODM and included within each reported measure of a segment’s profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The Group adopted this guidance for the year beginning January 1, 2024 and the adoption of this standard does not have a material impact on the interim combined financial statements. In December 2023, the FASB issued ASU No. 2023 -09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will likely result in the required additional disclosures being included in our interim combined financial statements, once adopted. In November 2024, the FASB issued ASU No. 2024 -03, Disaggregation of Income Statement Expenses (Subtopic 220 -40). The ASU requires the disaggregated disclosure of specific expense categories, including purchases of inventory, employee compensation, depreciation, and amortization, within relevant income statement captions. This ASU also requires disclosure of the total amount of selling expenses along with the definition of selling expenses