Introduction of Disclosures Concerning Accounting Estimates
First written in FY2021. 2 of 5 entries say "Restated". Latest entry: FY2023.
The Kodensha moved to the "Worse" side of this theme in 2022.
1 other company's latest entry also says "Reframed".
- FY2023ReframedAnnual report
「For its estimates of construction revenue, total construction costs and provisions for construction losses for the current consolidated fiscal year, the Group reviews its estimates as necessary in response to changes in circumstances and other factors. If the situation in Ukraine deteriorates further, however, construction work may be suspended or postponed due to prolonged material supplies and other factors, potentially affecting socioeconomic activity.」
The disclosure has shifted from a fixed assumption about the timing of the recovery from the pandemic to a policy of revising estimates in response to changes in circumstances. The situation in Ukraine, material supplies, labor shortages and equipment and material prices are identified as sources of uncertainty. - FY2022-Q3SoftenedAnnual report
「For its estimates of construction revenue, total construction costs and provisions for construction losses, the Group had, through the six months ended the second quarter, made accounting estimates on the assumption that socioeconomic activity, which had stagnated due to the impact of COVID-19, would gradually recover during fiscal 2021. For the nine months ended the third quarter, however, it made accounting estimates on the assumption of a gradual recovery during fiscal 2022, based on the circumstances described above. The impact of revising this assumption is immaterial.」
The assumption regarding the recovery of socioeconomic activity used in the accounting estimates was deferred from recovery during fiscal 2021 to a gradual recovery during fiscal 2022. The company states that the impact of revising the assumption is immaterial. - FY2022-Q2RestatedAnnual report
「For its estimates of construction revenue, total construction costs and provisions for construction losses for the six months ended the first quarter of the current consolidated fiscal year, the Group has made accounting estimates on the assumption that socioeconomic activity, which has been sluggish due to the impact of COVID-19, will gradually recover during fiscal 2021.」
The company continues to estimate construction revenue, total construction costs and provisions for construction losses on the assumption that socioeconomic activity will gradually recover during fiscal 2021. - FY2022-Q1RestatedAnnual report
「For its estimates of construction revenue, total construction costs and provisions for construction losses for the six months ended the first quarter of the current consolidated fiscal year, the Group has made accounting estimates on the assumption that socioeconomic activity, which has been sluggish due to the impact of COVID-19, will gradually recover during fiscal 2021.」
For its accounting estimates, the company assumes that socioeconomic activity will gradually recover during fiscal 2021 and estimates construction revenue, total construction costs and provisions for construction losses on that basis. - FY2021First statedAnnual report
「The Accounting Standard for Disclosure of Accounting Estimates was applied from the consolidated financial statements for the year-end of the current consolidated fiscal year, and notes concerning significant accounting estimates are included in the consolidated financial statements.」
Notes on accounting estimates have been applied to the consolidated financial statements from the fiscal year-end, and the estimated amounts of revenue from completed construction contracts and provisions for construction losses have been disclosed.