Application of the Percentage-of-Completion Method to Certain Construction Projects
First written in FY2019. 6 of 8 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2018: 1 of 6 companies on the "Worse" side.
14 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The Company recognizes revenue and profit under the Accounting Standard for Revenue Recognition. It uses the input method to calculate the percentage of completion, recognizing completed construction revenue based on the ratio of costs incurred to total estimated costs.」
Continues to apply the Accounting Standard for Revenue Recognition and the input method based on the ratio of costs incurred to total estimated costs. - FY2025RestatedAnnual report
「The Company recognizes revenue and profit under the Accounting Standard for Revenue Recognition. It uses the input method to calculate the percentage of completion, recognizing completed construction revenue based on the ratio of costs incurred to total estimated costs.」
Continues to apply the Accounting Standard for Revenue Recognition and the input method based on the ratio of costs incurred to total estimated costs. - FY2022RestatedAnnual report
「The Company recognizes revenue and profit under the Accounting Standard for Revenue Recognition, which has applied since FY2021. Essentially, the standard expands the scope of construction projects subject to the former percentage-of-completion method.」
Continues to apply the Accounting Standard for Revenue Recognition and the related accounting treatment, which expands the scope of construction projects subject to the former percentage-of-completion method. - FY2022-Q3RestatedAnnual report
「Previously, for construction contracts, the Company applied the percentage-of-completion method to projects for which the outcome of the work completed to date could be reliably determined, and the completed-contract method to other projects. The Company has changed its accounting policy to recognize revenue over a specified period as it satisfies its performance obligations. The percentage of completion for satisfying performance obligations is calculated using the input method, based on the ratio of costs incurred to total estimated costs.」
Continues to recognize revenue over a specified period as performance obligations are satisfied following application of the Accounting Standard for Revenue Recognition. - FY2022-Q2RestatedAnnual report
「Previously, for construction contracts, the Company applied the percentage-of-completion method to projects for which the outcome of the work completed to date could be reliably determined, and the completed-contract method to other projects. The Company has changed its accounting policy to recognize revenue over a specified period as it satisfies its performance obligations.」
Continues to apply the revenue-recognition method adopted following application of the Accounting Standard for Revenue Recognition. States that there was no impact on profit before income taxes for the cumulative second quarter. - FY2022-Q1ReframedAnnual report
「Previously, for construction contracts, the Company applied the percentage-of-completion method to projects for which the outcome of the work completed to date could be reliably determined, and the completed-contract method to other projects. The Company has changed its accounting policy to recognize revenue over a specified period as it satisfies its performance obligations. The percentage of completion for satisfying performance obligations is calculated using the input method, based on the ratio of costs incurred to total estimated costs.」
Following the application of the Accounting Standard for Revenue Recognition, the accounting policy has changed from using both the percentage-of-completion and completed-contract methods to recognizing revenue over a specified period as performance obligations are satisfied. The percentage of completion is calculated using the input method. - FY2020RestatedAnnual report
「In applying the percentage-of-completion method, the Company reliably estimates total construction revenue, total construction costs and the percentage of completion as of the reporting date. However, if these estimates change in the future due to revisions to construction methods, scheduled construction periods or other factors, net sales and cost of sales in the following fiscal year and thereafter may be affected.」
Reconfirms the application of the percentage-of-completion method to construction projects meeting certain requirements and the impact of changes in estimates. - FY2019First statedAnnual report
「For projects commenced on or after 1 April 2017, the Company applies the percentage-of-completion method to construction projects above a certain value when it determines that total revenue, total costs and the percentage of completion can be reasonably estimated.」
Describes the accounting policy of applying the percentage-of-completion method to construction projects commenced on or after 1 April 2017 that meet certain requirements, based on the development of internal management systems and other factors.