Application of the New Accounting Standard for Revenue Recognition in the Fiscal Year Ending June 2022
First written in FY2020. 1 of 3 entries say "Restated". Latest entry: FY2022-Q1.
42 other companies' latest entry also says "Achieved".
- FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were adopted from the beginning of the current first quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services is transferred to the customer.」
The company applied the accounting standard and related guidance on revenue recognition, which had been scheduled for application from the beginning of the fiscal year ending June 2022, from the beginning of the current first quarter of the consolidated fiscal year. For construction contracts, the method of recognizing revenue was changed to one based on the degree of satisfaction of performance obligations over time. - FY2021RestatedAnnual report
「“Scheduled application date for the Accounting Standard for Revenue Recognition, etc.: The standard is scheduled to be applied from the beginning of the fiscal year ending June 2022.” “The impact of applying these accounting standards and other related standards on the consolidated financial statements is currently being evaluated.”」
The company reconfirms that the accounting standard for revenue recognition was scheduled to be applied from the beginning of the fiscal year ending June 2022 and that its impact was being assessed. - FY2020First statedAnnual report
「“Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020)”“Scheduled application date: The standard is scheduled to be applied from the beginning of the fiscal year ending June 2022.”“The impact of applying the accounting standard and related guidance on the consolidated financial statements is currently being assessed.」
Regarding the comprehensive accounting standard for revenue recognition, the company describes the five-step revenue recognition process and states that application will begin at the start of the fiscal year ending June 2022, with the impact still under assessment.