Net Presentation of Agent Transactions Following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 1 of 3 entries say "Restated". Latest entry: FY2022.
6 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual report
「The company adopted the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and other standards from the beginning of the current consolidated fiscal year, and recognizes revenue 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. Accordingly, for revenue from the advertising business, the company previously recognized the total consideration received from customers as revenue. For transactions in which the Group determined that it did not control the goods or services provided to customers and therefore acted as an agent, it changed its method to recognize as revenue either the net amount of consideration received from customers after deducting the related costs or the amount of the commission.」
The company adopted the revenue recognition standard from the beginning of the current fiscal year and reflected the change to net or commission presentation for agency transactions in its annual financial statements. - FY2022-Q3RestatedAnnual report
「As a result, revenue and cost of sales decreased by ¥411,000 million compared with before retrospective application.」
The company continues to apply the revenue recognition standard by presenting advertising transactions for which it acts as an agent on a net or commission basis, and discloses a ¥411,000 million decrease in revenue and cost of sales compared with before retrospective application. - FY2022-Q1First statedAnnual report
「For revenue from the advertising business, the company previously recognized the total consideration received from customers as revenue. It has changed its method for transactions in which the Group is deemed to be acting as an agent in providing goods or services to customers, recognizing as revenue either the net amount of consideration received from customers after deducting the related costs or the amount of the commission.」
The revenue recognition standard was adopted on 1 April 2021, changing the presentation of advertising transactions for which the company acts as an agent from a gross basis to a net or commission basis. Following retrospective application, revenue and cost of sales decreased by ¥120,045 million compared with the previous standard.