Application of the Revenue Recognition Accounting Standard for the Fiscal Year Ending June 2022
First written in FY2018. 1 of 4 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q3.
83 other companies' latest entry also says "Other".
- FY2022-Q3Updated the cumulative reduction in reported amounts resulting from the application of the revenue recognition accounting standardAnnual report
「As a result, revenue, gross profit and selling, general and administrative expenses for the cumulative third quarter of the current consolidated fiscal year each decreased by ¥2.003988 billion. There was no impact on operating profit, ordinary profit or profit before income taxes.」
Application of the Revenue Recognition Standard reduced revenue, gross profit and selling, general and administrative expenses by ¥2.003988 billion each. There was no impact on operating profit or other profit figures. - FY2022-Q2Updated cumulative impact of adopting the revenue recognition standardAnnual report
「As a result, revenue, gross profit and selling, general and administrative expenses for the cumulative second quarter of the current consolidated fiscal year each decreased by ¥1.357171 billion. There was no impact on operating profit, ordinary profit or profit before income taxes.」
Under the Revenue Recognition Standard, the presentation decrease for the cumulative second quarter was ¥1.357171 billion each for revenue, gross profit and selling, general and administrative expenses. The company stated that there was no impact on operating profit or other profit figures. - FY2022-Q1AchievedAnnual report
「The company applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other guidance from the beginning of the first quarter of the current consolidated fiscal year. Revenue is now recognized at the point 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. Accordingly, consideration paid to customers, such as sales commissions and logistics costs, which had previously been recorded as selling, general and administrative expenses, is now deducted from revenue. As a result, revenue, gross profit and selling, general and administrative expenses for the cumulative first quarter of the current consolidated fiscal year each decreased by ¥568.35 million.」
The Revenue Recognition Standard was applied from the beginning of the fiscal year on 1 July 2021. Revenue, gross profit and selling, general and administrative expenses each decreased by ¥568.35 million, with no impact on operating profit or other profit figures. - FY2018First statedAnnual report
「(2) Scheduled date of application The standards will be applied from the beginning of the fiscal year ending June 2022. (3) Impact of applying the accounting standards and other guidance The impact of applying the “Accounting Standard for Revenue Recognition” and other guidance on the consolidated financial statements is currently being assessed.」
The company plans to apply the accounting standards and other guidance on revenue recognition from the beginning of the fiscal year ending June 2022 and is assessing the impact on the consolidated financial statements.