Net Presentation of Principal and Agent Transactions Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. . Latest entry: FY2022.
10 other companies' latest entry also says "Other".
- FY2022Updated impact of full-year applicationAnnual report
「As a result, for the fiscal year, net sales decreased by ¥63.053 million and cost of sales decreased by ¥63.053 million. There was no impact on the opening balance of retained earnings carried forward.」
Following the application of the revenue recognition standard and the resulting net presentation of agent transactions, the impact on full-year net sales and cost of sales was ¥63.053 million for each. There was no impact on the opening balance of retained earnings carried forward. - FY2022-Q3Updated impact of application through the third quarterAnnual report
「As a result, for the cumulative third quarter, net sales decreased by ¥45.460 million and cost of sales decreased by ¥45.460 million. There was no impact on the opening balance of retained earnings.」
Following the application of the revenue recognition standard and the resulting net presentation of agent transactions, net sales and cost of sales for the cumulative third quarter each decreased by ¥45.460 million. There was no impact on the opening balance of retained earnings. - FY2022-Q2Updated impact of application through the second quarterAnnual report
「As a result, for the cumulative second quarter, net sales decreased by ¥27.317 million and cost of sales decreased by ¥27.317 million. There was no impact on the opening balance of retained earnings.」
Following the application of the revenue recognition standard and the resulting net presentation of agent transactions, net sales and cost of sales for the cumulative second quarter each decreased by ¥27.317 million. There was no impact on the opening balance of retained earnings. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the first quarter of the current 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. For transactions in which the Company acts as an agent in providing services to customers, revenue recognition was changed from the previous gross presentation to net presentation. As a result, for the cumulative first quarter, net sales and cost of sales each decreased by ¥11.998 million.」
The Company applied the revenue recognition standard from the beginning of the first quarter and changed the presentation of revenue from agent transactions from gross to net. As a result, for the cumulative first quarter, net sales and cost of sales each decreased by ¥11.998 million.