Application of the Accounting Standard for Revenue Recognition and Presentation of Contract Assets and Contract Liabilities
First written in FY2023-Q1. 1 of 4 entries say "Restated". Latest entry: FY2023.
12 other companies' latest entry also says "Other".
- FY2023Disclosure of full-year metrics after applying the revenue recognition accounting standardAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition and other standards from the beginning of the fiscal year. Key management indicators for the fiscal year reflect application of those standards.」
The company discloses full-year key metrics after applying the revenue recognition accounting standard and other relevant standards from the beginning of the current fiscal year. - FY2023-Q3Disclosure of the impact of applying the accounting standard for the cumulative third-quarter periodAnnual report
「As a result, revenue for the cumulative third-quarter period increased by ¥43.869 million and cost of sales increased by ¥45.041 million. Operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥1.171 million. The opening balance of retained earnings also increased by ¥13.905 million.」
The company has updated its disclosure of the impact of applying the revenue recognition accounting standard on revenue, cost of sales, profit and opening retained earnings for the cumulative third-quarter period. It has also continued presenting contract assets and contract liabilities. - FY2023-Q2RestatedAnnual report
「As a result, revenue for the cumulative second-quarter period increased by ¥24.865 million and cost of sales increased by ¥27.964 million. Operating profit, ordinary profit and profit before income taxes for the quarter each decreased by ¥3.098 million. The opening balance of retained earnings also increased by ¥13.905 million.」
The company specifically discloses the impact of the revenue recognition accounting standard, applied from the first quarter, on revenue, profit and opening retained earnings for the cumulative second-quarter period. - FY2023-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition and other relevant standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer. Previously, the company applied the percentage-of-completion method to construction contracts for which the certainty of the outcome for the work completed to date could be recognized, and the completed-contract method to other construction contracts. From the first quarter of the current fiscal year, however, for performance obligations satisfied over a specified period, the company estimates the progress toward satisfying the performance obligation and recognizes revenue over that period based on the estimated progress.」
The company applied the revenue recognition accounting standard and other relevant standards from the beginning of the first quarter of the current fiscal year, changing revenue recognition from the percentage-of-completion and completed-contract methods to recognition based on the satisfaction of performance obligations. It also began presenting contract assets and contract liabilities. For the cumulative first-quarter period, revenue decreased by ¥4.493 million, operating profit and other relevant figures decreased by ¥3.067 million, and the opening balance of retained earnings increased by ¥13.905 million.