Change in the Method of Calculating Quarterly Tax Expense Following Nissin Foods Holdings’ Becoming a Consolidated Subsidiary
First written in FY2021-Q2. 5 of 6 entries say "Restated". Latest entry: FY2024-Q1.
90 other companies' latest entry also says "Restated".
- FY2024-Q1RestatedAnnual report
「Tax expense is calculated by reasonably estimating the effective tax rate, after applying tax-effect accounting, on pretax income for the consolidated fiscal year that includes the second quarter, and multiplying pretax quarterly income by the estimated effective tax rate.」
The company continues to use the method of calculating quarterly tax expenses using an estimated effective tax rate, introduced when it became a consolidated subsidiary of NISSIN FOODS HOLDINGS CO.,LTD. - FY2023-Q4RestatedAnnual report
「Tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year that includes the first quarter of the current fiscal year, and multiplying pretax quarterly income by that estimated effective tax rate.」
The company continues to use the method of calculating quarterly tax expenses based on an estimated effective tax rate, introduced when it became a consolidated subsidiary of NISSIN FOODS HOLDINGS CO.,LTD. - FY2023-Q2RestatedAnnual report
「For tax expenses, we estimate on a reasonable basis the effective tax rate after applying tax-effect accounting to income before income taxes for the consolidated fiscal year that includes the consolidated accounting period for the third quarter under review, and calculate quarterly income taxes by multiplying income before income taxes for the quarter by that estimated effective tax rate.」
The company continues to use the method of calculating quarterly tax expenses based on an estimated effective tax rate. - FY2022-Q1RestatedAnnual report
「Tax expense is calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year that includes the first quarter of the current fiscal year, and multiplying pretax quarterly income by that estimated effective tax rate.」
The company continues to use the method of calculating quarterly tax expenses based on an estimated effective tax rate, introduced when it became a consolidated subsidiary of NISSIN FOODS HOLDINGS CO.,LTD. - FY2021-Q3RestatedAnnual report
「Previously, tax expenses were calculated using the same method as for the annual financial statements. From the second quarter of the current consolidated fiscal year, following the company’s inclusion as a consolidated subsidiary of NISSIN FOODS HOLDINGS CO.,LTD., the company changed to a method of reasonably estimating the effective tax rate after applying tax-effect accounting to profit before income taxes for the consolidated fiscal year, and multiplying quarterly profit before income taxes by that estimated effective tax rate. This was implemented as one measure to further improve efficiency by standardising accounting procedures for quarterly financial reporting.」
The change to calculating quarterly tax expenses using an estimated effective tax rate, prompted by the company’s inclusion as a consolidated subsidiary of NISSIN FOODS HOLDINGS CO.,LTD., is reiterated. - FY2021-Q2First statedAnnual report
「Previously, tax expenses were calculated using the same method as for the annual financial statements. From the second quarter of the current consolidated fiscal year, following the company’s inclusion as a consolidated subsidiary of NISSIN FOODS HOLDINGS CO.,LTD., the company changed to a method of reasonably estimating the effective tax rate after applying tax-effect accounting to profit before income taxes for the consolidated fiscal year, and multiplying quarterly profit before income taxes by that estimated effective tax rate. This was implemented as one measure to further improve efficiency by standardising accounting procedures for quarterly financial reporting.」
Following its inclusion as a consolidated subsidiary of NISSIN FOODS HOLDINGS CO.,LTD., the company changed its method of calculating tax expenses to one based on an estimated effective tax rate, to standardise and improve the efficiency of accounting procedures for quarterly financial reporting. The impact on the financial statements was immaterial, and no retrospective application was made.