Change to the prescribed method for calculating quarterly tax expenses
First written in FY2020-Q1. 2 of 3 entries say "Restated". Latest entry: FY2020-Q3.
83 other companies' latest entry also says "Restated".
- FY2020-Q3RestatedAnnual report
「Previously, the company calculated income tax expense for the company and its consolidated subsidiaries by reasonably estimating the effective tax rate, after applying tax-effect accounting, to pretax net income for the consolidated fiscal year, and multiplying pretax quarterly net income by that estimated effective tax rate. From the first quarter of the consolidated fiscal year, the company changed to the standard method of calculating income tax expense.」
The company continues to explain the change in the method of calculating income tax expense from the first quarter in the notes for the cumulative third-quarter period. - FY2020-Q2RestatedAnnual report
「Previously, the company calculated income tax expense for the company and its consolidated subsidiaries by reasonably estimating the effective tax rate, after applying tax-effect accounting, to pretax net income for the consolidated fiscal year, and multiplying pretax quarterly net income by that estimated effective tax rate. To calculate income tax expense in the quarterly financial statements of the company and its consolidated subsidiaries more accurately, the company changed to the standard method of calculating income tax expense from the first quarter of the consolidated fiscal year.」
The company continues to explain the change in the method of calculating income tax expense from the first quarter in the notes to the second-quarter financial statements. - FY2020-Q1First statedAnnual report
「Previously, tax expense for us and our consolidated subsidiaries was calculated by reasonably estimating the effective tax rate after applying tax-effect accounting to pretax income for the consolidated fiscal year and multiplying pretax quarterly income by that estimated effective tax rate. From the first quarter of the current consolidated fiscal year, we changed to the standard method of calculating tax expense in order to determine quarterly tax expense more accurately.」
Changed the quarterly tax-expense calculation from the estimated effective-tax-rate method to the standard method from the first quarter to improve accuracy.