Preparing for New Accounting Standards on Revenue Recognition and Fair Value Measurement
First written in FY2021. 2 of 4 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, net sales and cost of sales each decreased by ¥23,595 million, while the impact on operating income, ordinary income and profit before income taxes was immaterial. In addition, the opening balance of retained earnings decreased by ¥256 million.」
The revenue recognition accounting standard was applied from the beginning of the current consolidated fiscal year, and the company disclosed for the full year that net sales and cost of sales each decreased by ¥23,595 million and the opening balance of retained earnings decreased by ¥256 million. - FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is recognised when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, net sales and cost of sales each decreased by ¥17,872 million, while the impact on operating income, ordinary income and profit before income taxes for the quarter was immaterial. In addition, the opening balance of retained earnings decreased by ¥256 million.」
The company continued to disclose the application of the revenue recognition accounting standard, showing that net sales and cost of sales each decreased by ¥17,872 million and that the opening balance of retained earnings decreased by ¥256 million. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer.」
The Accounting Standard for Revenue Recognition and related standards, which had been scheduled for application in the previous fiscal year, were applied from the beginning of the fiscal year ending March 2022. Transactions in which the company acts as an agent are presented on a net basis, reducing net sales and cost of sales by ¥5,195 million each. - FY2021First statedAnnual report
「The standards will be applied from the beginning of the fiscal year ending March 2022. The impact on retained earnings from applying the Accounting Standard for Revenue Recognition and related standards is immaterial.」
The company indicated that it planned to apply the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending March 2022, and disclosed that transactions in which it acts as an agent were expected to be presented on a net basis. It also planned to apply the Accounting Standards for Fair Value Measurement and related standards from the same period.