Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 4 of 5 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
94 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards have been applied from the beginning of Fiscal Year 36, and the key management indicators and other figures for Fiscal Year 36 onward are based on the application of those accounting standards.」
The company continues to disclose that the Revenue Recognition Accounting Standard and other relevant standards have been applied from the beginning of Fiscal Year 36. - FY2022RestatedAnnual report
「In addition, we have applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the current fiscal year.」
The company has reconfirmed that it has applied the Revenue Recognition Accounting Standard and other relevant standards from the beginning of the current fiscal year. - FY2022-Q3RestatedAnnual report
「Because the Accounting Standard for Revenue Recognition and other standards were applied, “advances received,” previously presented under “current liabilities” on the balance sheet for the previous fiscal year, has been included and presented under “contract liabilities” from the first-quarter accounting period.」
The Revenue Recognition Accounting Standard and other relevant standards have been applied from the beginning of the first quarter of the fiscal year, and advances received continue to be presented as part of contract liabilities. - FY2022-Q2RestatedAnnual report
「Because the Accounting Standard for Revenue Recognition and other standards were applied, “advances received,” previously presented under “current liabilities” on the balance sheet for the previous fiscal year, has been included and presented under “contract liabilities” from the first-quarter accounting period.」
The Revenue Recognition Accounting Standard and other relevant standards have been applied from the beginning of the first quarter of the fiscal year, and advances received continue to be presented as part of contract liabilities. There is no effect on profit or loss or retained earnings at the beginning of the fiscal year. - FY2022-Q1First statedAnnual report
「We have applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other relevant standards from the beginning of the first quarter of the current fiscal year. Accordingly, revenue is recognised 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. In addition, we have applied the alternative treatment prescribed in Paragraph 98 of the Implementation Guidance on the Accounting Standard for Revenue Recognition. For domestic sales of merchandise or products, when the period from shipment until control of the merchandise or products is transferred to the customer is a normal period, revenue is recognised at the time of shipment. For export sales, revenue is recognised when the risks and rewards are transferred to the customer in accordance with the terms of the transaction. The application of the Revenue Recognition Accounting Standard and other relevant standards had no effect on profit or loss or retained earnings at the beginning of the fiscal year for the cumulative first-quarter period of the current fiscal year.」
The Revenue Recognition Accounting Standard and other relevant standards were applied from 1 October 2021, changing the basic approach to recognising revenue at the time control is transferred. For domestic sales, the alternative treatment of recognising revenue at shipment is applied, while for export sales, revenue is recognised when risk is transferred in accordance with the transaction terms. There was no effect on profit or loss or retained earnings at the beginning of the fiscal year, and advances received are presented as part of contract liabilities.