Adoption of Revenue Recognition Standards and Recognition Based on Progress Toward Satisfying Performance Obligations
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
91 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter the “Revenue Recognition Accounting Standard”) and other standards from the beginning of the first quarter of the consolidated fiscal year. For performance obligations satisfied over a period of time, the company estimates progress toward satisfying the performance obligation and recognizes revenue over that period based on the progress.」
The company continues to apply its policy of recognizing revenue based on progress toward satisfying performance obligations under the Revenue Recognition Accounting Standard and other standards adopted from the first quarter. - FY2022-Q2RestatedAnnual report
「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter the “Revenue Recognition Accounting Standard”) and other standards from the beginning of the first quarter of the consolidated fiscal year. For performance obligations satisfied over a period of time, the company estimates progress toward satisfying the performance obligation and recognizes revenue over that period based on the progress.」
The company continues to apply its policy of recognizing revenue based on progress toward satisfying performance obligations under the Revenue Recognition Accounting Standard and other standards adopted from the first quarter. - FY2022-Q1First statedAnnual report
「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter the “Revenue Recognition Accounting Standard”) and other standards from the beginning of the current first quarter of the consolidated fiscal year. For performance obligations satisfied over a period of time, the company estimates progress toward satisfying the performance obligation and recognizes revenue over that period based on the progress. When a performance obligation is not satisfied over a period of time, the company treats it as a performance obligation satisfied at a point in time and recognizes revenue when the performance obligation is satisfied by transferring control of the asset to the customer. The progress toward satisfying performance obligations is estimated using the input method, based on the ratio of costs incurred to estimated total costs.」
Effective 1 April 2021, the company adopted the Revenue Recognition Accounting Standard and other standards and introduced a policy of recognizing revenue based on progress under the input method for performance obligations satisfied over a period of time. Performance obligations satisfied at a point in time are recognized when control is transferred. There was no impact on retained earnings at the beginning of the fiscal year or on profit or loss for the current first quarter, but the presentation was changed to include contract assets.