Adoption of the Revenue Recognition Accounting Standard and Deduction of Logistics Costs, etc. from Net Sales
First written in FY2022-Q1. . Latest entry: FY2022.
3 other companies' latest entry also says "Other".
- FY2022Details of the full-year retrospective impact of the revenue recognition standard specifiedAnnual report
「As a result, compared with before the retrospective application, net sales for the previous consolidated fiscal year decreased by ¥885.321 million. Within selling, general and administrative expenses, commissions paid decreased by ¥18.861 million, freight expenses by ¥473.113 million, sales promotion expenses by ¥386.019 million, advertising expenses by ¥1.569 million and other expenses by ¥5.757 million, but there was no change in operating loss, ordinary loss or loss before income taxes.」
The company disclosed the full-year retrospective impact on the previous consolidated fiscal year of applying the Revenue Recognition Standard, explaining that net sales decreased by ¥885.321 million but that there was no impact on operating income or loss or other measures. - FY2022-Q3Quantified the retrospective impact of the Revenue Recognition StandardAnnual report
「As a result, compared with before the retrospective application, net sales for the nine months ended the third quarter of the previous consolidated fiscal year decreased by ¥671.753 million. Within selling, general and administrative expenses, commissions paid decreased by ¥15.622 million, freight expenses by ¥350.948 million, sales promotion expenses by ¥299.665 million and other expenses by ¥5.516 million, but there was no change in operating loss, ordinary loss or loss before income taxes.」
The impact on the cumulative total for the third quarter of the previous fiscal year of the retrospective application of the Revenue Recognition Standard was quantified. Net sales decreased by ¥671.753 million, but there was no impact on operating income or loss or other measures. - FY2022-Q2Quantified the retrospective impact of the Revenue Recognition StandardAnnual report
「As a result, compared with before the retrospective application, net sales for the six months ended the second quarter of the previous consolidated fiscal year decreased by ¥441.608 million. Within selling, general and administrative expenses, commissions paid decreased by ¥10.414 million, freight expenses by ¥231.306 million, sales promotion expenses by ¥196.146 million and other expenses by ¥3.741 million, but there was no change in operating loss, ordinary loss or loss before income taxes.」
The retrospective impact on the cumulative total for the second quarter of the previous fiscal year of applying the Revenue Recognition Standard from the first quarter was quantified. Net sales decreased by ¥441.608 million, but there was no impact on operating income or loss or other measures. - FY2022-Q1First statedAnnual report
「The "Accounting Standard for Revenue Recognition" (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Standard") and other standards have been applied from the beginning of the first quarter of the current consolidated 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 is transferred to the customer. Accordingly, consideration payable to customers, such as logistics costs, which was previously recorded under selling, general and administrative expenses, is deducted from net sales.」
The Revenue Recognition Standard was applied from the beginning of the first quarter of the current consolidated fiscal year, changing the presentation so that consideration paid to customers, such as logistics costs, is deducted from net sales. Net sales for the first quarter of the previous fiscal year decreased by ¥223.525 million compared with before the retrospective application, but there was no impact on operating income or loss or other measures.