Preparing to apply the revenue recognition standard
First written in FY2020. 1 of 7 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2026.
119 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The group's principal business is the manufacture and sale of compound feed. For transactions in which the group's role in selling products to customers qualifies it as an agent, the group recognizes revenue on a net basis as an agent.」
The company continues to apply the accounting policy of presenting transactions as an agent on a net basis and other policies following adoption of the Revenue Recognition Standard. - FY2023-Q2Expanded impact of applying the Revenue Recognition StandardAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the current consolidated 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 is transferred to the customer. As a result, net sales and cost of sales for the six-month period ended [the second quarter of the current fiscal year] decreased by ¥2.868 billion each.」
The company discloses that, under the Revenue Recognition Standard and other standards applied from the first quarter, net sales and cost of sales each decreased by ¥2.868 billion during the six-month period ended [the second quarter of the current fiscal year]. - FY2022Disclosure of the full-year impact of applying the Revenue Recognition StandardAnnual report
「As a result, net sales and cost of sales for the fiscal year each decreased by ¥5.555 billion. The impact on the beginning balance of retained earnings was immaterial.」
The company discloses the full-year impact of applying the Revenue Recognition Standard and other standards from the beginning of the current fiscal year, with net sales and cost of sales each decreasing by ¥5.555 billion due to net presentation of transactions as an agent and other changes. - FY2022-Q3Expanded impact of applying the Revenue Recognition StandardAnnual report
「As a result, net sales for the nine-month period ended [the third quarter of the current fiscal year] decreased by ¥4.266 billion and cost of sales decreased by ¥4.265 billion. The impact on the beginning balance of retained earnings was immaterial.」
The company discloses that, under the Revenue Recognition Standard and other standards applied from the first quarter, net sales decreased by ¥4.266 billion and cost of sales decreased by ¥4.265 billion during the nine-month period ended [the third quarter of the current fiscal year]. - FY2022-Q2Impact of the revenue recognition standard quantifiedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the current consolidated 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 is transferred to the customer. As a result, net sales and cost of sales for the six-month period ended [the second quarter of the current fiscal year] decreased by ¥2.868 billion each.」
The company discloses that, following the adoption of the Revenue Recognition Standard from the first quarter, net sales and cost of sales for the six-month period ended [the second quarter of the current fiscal year] each decreased by ¥2.868 billion due to net presentation of transactions as an agent and other changes. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other applicable standards were adopted from the beginning of the first quarter of the current consolidated 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 is transferred to the customer.」
The company applied the Accounting Standard for Revenue Recognition and other standards, which had been scheduled for adoption from the beginning of the fiscal year ending March 2022, from the beginning of the first quarter of the current consolidated fiscal year. Net presentation of transactions as an agent and other changes reduced both net sales and cost of sales by ¥1.389 billion. - FY2020First statedAnnual report
「(2) Scheduled effective date: The standards are scheduled to be applied from the beginning of the fiscal year ending March 2022. (3) Impact of applying the standards: The impact on the consolidated financial statements of applying the Accounting Standard for Revenue Recognition and other standards is currently being assessed.」
The company plans to apply the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending March 2022 and is assessing the impact on the financial statements.