Adoption of the Revenue Recognition Accounting Standard and Its Impact on Revenue Presentation and Retained Earnings
First written in FY2022-Q1. 2 of 3 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022-Q3.
7 other companies' latest entry also says "Advanced".
- FY2022-Q3AdvancedAnnual report
「As a result, for the cumulative third quarter, sales decreased by ¥5,417 million, cost of sales by ¥3,411 million and gross profit by ¥2,006 million, while operating revenue increased by ¥240 million. Selling, general and administrative expenses decreased by ¥1,736 million, and operating profit, ordinary profit and profit before income taxes decreased by ¥29 million each. Retained earnings at the beginning of the period also decreased by ¥1,435 million.」
The Company has additionally disclosed the impact of applying the revenue recognition standards on reported figures and retained earnings for the cumulative third quarter. - FY2022-Q2AdvancedAnnual report
「As a result, for the cumulative second quarter, sales decreased by ¥3,531 million, cost of sales by ¥2,215 million and gross profit by ¥1,315 million, while operating revenue increased by ¥160 million. Selling, general and administrative expenses decreased by ¥1,143 million, and operating profit, ordinary profit and profit before income taxes decreased by ¥11 million each. Retained earnings at the beginning of the period also decreased by ¥1,435 million. The impact on per-share information and the quarterly statement of cash flows was immaterial.」
The Company has additionally disclosed the impact of applying the revenue recognition standards on reported figures and retained earnings for the cumulative second quarter. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the current first quarter accounting period. 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 is transferred to the customer.」
The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the first quarter of FY2022. Transactions conducted as an agent are presented on a net basis, and points are recorded as contract liabilities as performance obligations. As a result, sales decreased by ¥1,931 million, gross profit by ¥778 million and operating profit and other items by ¥107 million for the cumulative first quarter, while retained earnings at the beginning of the period decreased by ¥1,435 million.