Impact of applying the accounting standard for revenue recognition
First written in FY2018. 4 of 6 entries say "Materialised", first in FY2022-Q1. Latest entry: FY2022.
Ifuji Sangyo moved to the "Worse" side of this theme in 2021.
0 other companies' latest entry also says "Materialised".
- FY2022MaterialisedAnnual report
「Compared with before applying the accounting standards for revenue recognition and related standards, net sales for the current consolidated fiscal year decreased by ¥105 million and cost of sales by ¥70 million, reducing gross profit by ¥34 million. Selling, general and administrative expenses also decreased by ¥34 million, however, resulting in no impact on operating income, ordinary income or profit before income taxes and other adjustments for the year.」
As a result of applying the accounting standards for revenue recognition and related standards for the full fiscal year, net sales decreased by ¥105 million, cost of sales by ¥70 million and gross profit by ¥34 million, while selling, general and administrative expenses also decreased by ¥34 million. The Company explained that there was no impact on operating income or other measures. - FY2022-Q3MaterialisedAnnual report
「As a result, net sales decreased by ¥80 million, cost of sales by ¥54 million and selling, general and administrative expenses by ¥25 million during the cumulative third-quarter consolidated period, reducing gross profit by ¥25 million. However, there was no impact on operating income, ordinary income or profit before income taxes and other adjustments for the quarter.」
The cumulative impact of applying the accounting standards for revenue recognition and related standards actually appeared as decreases of ¥80 million in net sales, ¥54 million in cost of sales, ¥25 million in selling, general and administrative expenses and ¥25 million in gross profit. The Company explained that there was no impact on operating income or other measures. - FY2022-Q2MaterialisedAnnual report
「As a result, net sales decreased by ¥52 million, cost of sales by ¥35 million and selling, general and administrative expenses by ¥16 million during the cumulative second-quarter consolidated period, reducing gross profit by ¥16 million. However, there was no impact on operating income, ordinary income or profit before income taxes and other adjustments for the quarter.」
The application of the accounting standards for revenue recognition and related standards actually reduced net sales by ¥52 million, cost of sales by ¥35 million, selling, general and administrative expenses by ¥16 million and gross profit by ¥16 million during the cumulative second-quarter period, while the Company explained that there was no impact on operating income or other measures. - FY2022-Q1MaterialisedAnnual report
「As a result, net sales decreased by ¥28 million, cost of sales by ¥19 million and selling, general and administrative expenses by ¥9 million during the cumulative first-quarter consolidated period, reducing gross profit by ¥9 million. However, there was no impact on operating income, ordinary income or profit before income taxes and other adjustments for the quarter.」
The accounting standards for revenue recognition and related standards were applied from the beginning of the first quarter, resulting in actual decreases of ¥28 million in net sales, ¥19 million in cost of sales, ¥9 million in selling, general and administrative expenses and ¥9 million in gross profit. The Company explained that there was no impact on operating income, ordinary income or other measures. - FY2021WorsenedAnnual report
「The standards were scheduled to be applied from the beginning of the fiscal year ending March 2022. Consideration paid to customers will be deducted from net sales. …A decrease in net sales is expected.」
The planned application of the revenue recognition standards from the beginning of the fiscal year ending March 2022 and the method of application were made more specific, and the Company indicated that net sales are expected to decline due to consideration paid to customers and transactions conducted as an agent. - FY2018First statedAnnual report
「The amount of the impact of adopting the Accounting Standard for Revenue Recognition and related standards on the consolidated financial statements is currently under assessment.」
The Company planned to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022 and was evaluating the amount of their impact on the consolidated financial statements.