Changes in the Presentation of Net Sales and Selling Expenses Due to the Application of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. . Latest entry: FY2022-Q3.
1 other company's latest entry also says "Other".
- FY2022-Q3Update on the impact of adoptionAnnual report
「As a result, during the cumulative third quarter of the current consolidated fiscal year, revenue decreased by ¥3.171584 billion, cost of sales decreased by ¥445.476 million, selling, general and administrative expenses decreased by ¥2.648460 billion, operating loss increased by ¥77.647 million, and ordinary income and profit before income taxes and other adjustments each decreased by ¥77.647 million.」
The disclosure updates the impact of adopting the revenue recognition accounting standard on revenue, expenses, operating loss, ordinary income and other items for the cumulative third quarter. - FY2022-Q2Update on the impact of adoptionAnnual report
「As a result, during the cumulative second quarter of the current consolidated fiscal year, revenue decreased by ¥2.065526 billion, cost of sales decreased by ¥303.664 million, selling, general and administrative expenses decreased by ¥1.722496 billion, operating loss increased by ¥39.364 million, and ordinary income and profit before income taxes and other adjustments each decreased by ¥39.364 million.」
The Company specifically disclosed the impact of adopting the revenue recognition accounting standard on revenue, expenses and operating loss and other items for the cumulative second quarter. - FY2022-Q1First statedAnnual report
「The “Accounting Standard for Revenue Recognition” and other relevant standards were applied from the beginning of the first quarter of the current consolidated fiscal year. Revenue is now 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 certain transactions, the Company previously recognized the total consideration received from customers as revenue, but for transactions in which the Group acts as an agent in providing goods or services to customers, revenue is now recognized on a net basis, deducting the amount paid to suppliers from the amount received from customers. In addition, certain consideration paid to customers that was previously recorded as selling expenses under selling, general and administrative expenses is now deducted from revenue.」
The revenue recognition accounting standard was applied from the beginning of the current quarterly consolidated accounting period, changing the accounting treatment to net presentation for transactions in which the Company acts as an agent and deduction of consideration paid to customers from revenue. As a result of the adoption, quarterly revenue decreased by ¥1.082996 billion and operating loss and other losses increased by ¥43.037 million.