Application of the Accounting Standard for Revenue Recognition and Other Standards
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
105 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The company has also applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other relevant standards from the beginning of the fiscal year.」
The application of the Revenue Recognition Accounting Standard and other relevant standards from the beginning of the fiscal year on 1 April 2021 continued in the full-year financial statements. - FY2022-Q3Update on the cumulative impact of the Revenue Recognition Accounting Standard through the third quarterAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other relevant standards from the beginning of the first quarter accounting period. 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 is transferred to the customer. As a result, for the nine months ended the third quarter, net sales decreased by ¥119.041 million, cost of sales decreased by ¥114.503 million, and operating profit, ordinary profit and profit before income taxes each decreased by ¥4.537 million.」
The impact of the Revenue Recognition Accounting Standard applied from the beginning of the first quarter accounting period was disclosed for the nine months ended the third quarter: net sales decreased by ¥119.041 million and operating profit, ordinary profit and other such profit figures decreased by ¥4.537 million. - FY2022-Q2RestatedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other relevant standards from the beginning of the first quarter accounting period. 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 is transferred to the customer. As a result, for the six months ended the second quarter, net sales decreased by ¥97.074 million, cost of sales decreased by ¥92.536 million, and operating profit, ordinary profit and profit before income taxes each decreased by ¥4.537 million.」
The Revenue Recognition Accounting Standard, applied from the beginning of the first quarter accounting period, continued to apply, and its impact on the six months ended the second quarter was disclosed. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other relevant standards from the beginning of the first quarter accounting period. 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 is transferred to the customer. Previously, for construction contracts, the percentage-of-completion method was applied to construction projects for which the reliability of progress results was recognized, while the completed-contract method was applied to other projects. From the beginning of the first quarter accounting period, performance obligations satisfied over a period of time are recognized as revenue over that period, based on an estimate of the progress toward satisfaction of the performance obligation, except for construction projects with a very short duration. Performance obligations satisfied at a point in time are recognized as revenue when construction is completed.」
The company applied the Revenue Recognition Accounting Standard and other relevant standards from 1 April 2021, changing the recognition of construction revenue to allocation over the period in which the performance obligation is satisfied or recognition upon completion of construction. As a result, quarterly net sales decreased by ¥97.235 million, operating profit, ordinary profit and profit before income taxes each decreased by ¥5.710 million, and the opening balance of retained earnings decreased by ¥2.706 million.