Application of the revenue recognition accounting standard and allocation of contract revenue over the contract period
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
9 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, compared with applying the previous accounting standards, for the nine months ended the current third quarter, net sales decreased by ¥83.185 million, cost of sales decreased by ¥80.956 million, selling, general and administrative expenses decreased by ¥4.014 million, operating loss decreased by ¥1.785 million, and ordinary income and income before income taxes increased by ¥1.785 million each. The opening balance of retained earnings also decreased by ¥12.513 million.」
Continued applying the Revenue Recognition Standard and disclosed its impact on net sales, expenses, operating loss, ordinary income and opening retained earnings for the nine months ended the third quarter. - FY2022-Q2RestatedAnnual report
「As a result, compared with applying the previous accounting standards, for the six months ended the current second quarter, net sales decreased by ¥51.447 million, cost of sales decreased by ¥55.783 million, selling, general and administrative expenses increased by ¥0.518 million, and operating loss, ordinary loss and loss before income taxes decreased by ¥3.818 million each. The opening balance of retained earnings also decreased by ¥12.513 million.」
Continued applying the Revenue Recognition Standard and disclosed its impact on net sales, expenses and retained earnings for the six months ended the current second quarter. - FY2022-Q1First statedAnnual report
「We applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Standard") and other standards from the beginning of the current first-quarter consolidated accounting period. 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. Accordingly, franchise entrance fees, which had previously been recognised as revenue in full when the contract was concluded and the franchise store opened, are now recognised over the contract period beginning when the store opens. In addition, cooperation payments received from suppliers as consideration under exclusive sales agreements had previously been recorded as net sales. For payments judged to form part of the transaction for the purchase of goods, however, we now deduct the relevant revenue from the transaction price of goods and other items paid to suppliers.」
Applied the Revenue Recognition Standard from the beginning of the current first quarter, changing the method of recognising franchise entrance fees to recognition over the contract period and changing the method for some cooperation payments under exclusive sales agreements to deduction from purchase prices.