Adoption of New Accounting Standards for Revenue Recognition and Fair Value Measurement
First written in FY2022-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022-Q3.
7 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the consolidated fiscal year. As the new accounting policies have been applied retrospectively to all prior periods in accordance with the basic treatment prescribed in Paragraph 84 of the Accounting Standard for Revenue Recognition, comparisons and analysis with the previous year's cumulative consolidated period and the previous consolidated fiscal year are based on figures after retrospective application of the accounting standards and other standards.」
The Company has continued to apply the revenue recognition accounting standard and retrospectively apply it to prior periods. For the cumulative third quarter, it disclosed that sales for the same period of the previous year decreased by ¥1,039.353 million compared with the figures before retrospective application, with no effect on operating profit or other relevant figures. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year. 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, sales promotion expenses such as rebates, which had previously been recorded as selling, general and administrative expenses, are deducted from net sales.」
The Company applied the revenue recognition accounting standard from the beginning of the fiscal year and changed the presentation so that sales promotion expenses such as rebates are deducted from net sales. Compared with the figures before retrospective application, net sales and selling, general and administrative expenses for the first quarter of the previous year each decreased by ¥347.300 million, while there was no effect on operating profit or other relevant figures. The accounting standard for fair value measurement and other standards were also applied from the beginning of the fiscal year, with no effect.