Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 95

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 8
Chunk 95
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     (0.16) 
    $0.05  
    $(0.12)

15

Related parties

Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operational decisions. Companies are also considered to be related if they are
subject to common control or common significant influence.

Recent Accounting Pronouncements

In November 2023, the FASB issued ASU No. 2023-07,
“Segment Reporting (Topic 280)” (“ASU 2023-07” or “Topic 280). The amendments in ASU 2023-07 improve
financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities
to enable investors to develop more decision useful financial analyses. Topic 280 requires a public entity to report a measure of segment
profit or loss that the chief operating decision maker (CODM) uses to assess segment performance and make decisions about allocating resources.
Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization, and depletion expense, to be disclosed
under certain circumstances. The amendments in ASU 2023-07 also do not change how a public entity identifies its operating segments, aggregates
those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in ASU 2023-07 are
effective for years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, adopted
retrospectively. The Company adopted ASU 2023-07 for the year ended March 31, 2025 (See Note 10 – Segment information).

In December 2023, the FASB issued Accounting Standards
Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which
modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the
income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income
tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also requires
entities to disclose their