Planned Adoption of the Revenue Recognition Accounting Standard for the Fiscal Year Ending February 2023
First written in FY2020. 1 of 6 entries say "Advanced", first in FY2023-Q1. Latest entry: FY2024-Q1.
123 other companies' latest entry also says "Restated".
- FY2024-Q1RestatedAnnual report
「There have been no material changes in the assumptions regarding the impact of COVID-19 described in the “Significant Accounting Estimates” section of the previous fiscal year’s securities report.」
The Group continued to treat the assumptions used in accounting estimates concerning the impact of COVID-19 as involving no significant changes. - FY2023Disclosed Full-Year Impact of AdoptionAnnual report
「As a result, compared with the consolidated financial statements before applying the accounting standards for revenue recognition and other standards, retained earnings on the consolidated balance sheet for the current consolidated fiscal year decreased by ¥4.350 million, while unearned revenue included in other current liabilities increased by ¥4.350 million. On the consolidated income statement, net sales increased by ¥5.800 million, while the operating loss, ordinary loss and net loss before income taxes each decreased by the same amount.」
Full-year application of the accounting standard for revenue recognition increased net sales by ¥5.800 million and decreased retained earnings by ¥4.350 million. - FY2023-Q3Cumulative impact of application increasedAnnual report
「As a result, retained earnings at the beginning of the first quarter of the current consolidated fiscal year decreased by ¥10.150 million. In addition, net sales for the cumulative third quarter increased by ¥4.250 million, while the operating loss, ordinary loss and quarterly net loss before income taxes each decreased by the same amount.」
The Group continued applying the accounting standard for revenue recognition and disclosed the impacts, including a ¥10.150 million decrease in retained earnings at the beginning of the period and a ¥4.250 million increase in net sales for the cumulative third quarter. - FY2023-Q2Cumulative impact of application disclosedAnnual report
「As a result, retained earnings at the beginning of the first quarter of the current consolidated fiscal year decreased by ¥10.150 million. In addition, net sales for the cumulative second quarter increased by ¥2.100 million, while the operating loss, ordinary loss and quarterly net loss before income taxes each decreased by the same amount.」
The Group continued applying the accounting standard for revenue recognition and disclosed the impacts, including a ¥10.150 million decrease in retained earnings at the beginning of the period and a ¥2.100 million increase in net sales for the cumulative second quarter. - FY2023-Q1AdvancedAnnual report
「The “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020) and other standards were 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. As a result, franchise membership fee revenue, which had previously been recognized in full when the franchise agreement was executed, is now recognized over the term of the agreement.」
The accounting standard for revenue recognition, which had been scheduled for application from the fiscal year ending February 2023, was applied from the beginning of the first quarter. The method of recognizing franchise membership fee revenue was changed to recognition over the term of the agreement. As a result, retained earnings at the beginning of the period decreased by ¥10.150 million and net sales for the quarter increased by ¥1.050 million. - FY2020First statedAnnual report
「(2) Scheduled effective date The standards will be applied from the beginning of the fiscal year ending February 2023. (3) Impact of applying the accounting standards and other measures The impact of applying the “Accounting Standard for Revenue Recognition” and other standards on the consolidated financial statements is currently being assessed.」
The Group stated that it planned to apply the accounting standards for revenue recognition and other standards from the beginning of the fiscal year ending February 2023, and that their impact on the consolidated financial statements was being assessed.