Enhancing revenue recognition and cost management through the introduction of a new cost management system
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
The whole theme swung hardest in 2021: 3 of 19 companies on the "Worse" side.
2 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「The company also introduced a new cost management system at the beginning of the current consolidated fiscal year, making reliable estimates possible even for construction projects to which the completed-contract method had previously been applied. Since accounting treatment recognizing revenue over a specified period as performance obligations are satisfied was adopted for these projects as well, compared with the previous method, sales for the current consolidated fiscal year increased by ¥2,360 million, and operating income, ordinary income and profit before income taxes increased by ¥333 million, respectively.」
The introduction of the cost management system expanded the construction projects subject to revenue recognition over a specified period. Compared with the previous method, sales increased by ¥2,360 million and operating income and related items by ¥333 million. - FY2022-Q3AdvancedAnnual report
「The company also introduced a new cost management system at the beginning of the first quarter of the current consolidated fiscal year and adopted new accounting treatment as a result. Compared with the previous method, this increased sales for the cumulative third quarter of the current consolidated fiscal year by ¥2,577 million, and operating income, ordinary income and profit before income taxes by ¥371 million, respectively.」
The cost management system introduced at the beginning of the first quarter continued to be used, and compared with the previous method, sales increased by ¥2,577 million and operating income and related items by ¥371 million. - FY2022-Q2AdvancedAnnual report
「The company also introduced a new cost management system at the beginning of the first quarter of the current consolidated fiscal year and adopted new accounting treatment as a result. Compared with the previous method, this increased sales for the cumulative second quarter of the current consolidated fiscal year by ¥1,945 million, and operating income, ordinary income and profit before income taxes by ¥288 million, respectively.」
The cost management system introduced at the beginning of the first quarter continued to be used, enabling revenue recognition over a specified period. As a result, compared with the previous method, sales increased by ¥1,945 million and operating income and related items by ¥288 million. - FY2022-Q1First statedAnnual report
「The company also introduced a new cost management system at the beginning of the first quarter of the current consolidated fiscal year and adopted new accounting treatment as a result. Compared with the previous method, this increased sales for the cumulative first quarter of the current consolidated fiscal year by ¥1,943 million, and operating income, ordinary income and profit before income taxes by ¥236 million, respectively.」
A new cost management system was introduced at the beginning of the first quarter of the current consolidated fiscal year, and accounting treatment recognizing revenue over a specified period for certain construction projects was adopted as a result. Compared with the previous method, sales increased by ¥1,943 million and operating income and related items by ¥236 million.