Preparing to Adopt the New Revenue-Recognition and Other Accounting Standards
First written in FY2021. 1 of 3 entries say "Achieved", first in FY2023-Q1. Latest entry: FY2023-Q2.
The whole theme swung hardest in 2024: 1 of 6 companies on the "Worse" side.
21 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020), among others, was 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.」
The accounting standard on revenue recognition adopted from the first quarter and the accounting policy of treating points as contract liabilities have continued to be applied in the second quarter. - FY2023-Q1AchievedAnnual report
「We adopted the Accounting Standard for Revenue Recognition and related 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 transfers to the customer.」
The accounting standards on revenue recognition and other standards that were described as being under preparation for adoption in the previous fiscal year were actually adopted from the beginning of the first quarter of the current consolidated fiscal year. Points are now recognized as contract liabilities and reclassified to net sales when redeemed. - FY2021First statedAnnual report
「Accounting Standard for Revenue Recognition ・"Accounting Standard for Revenue Recognition" (Accounting Standard No. 29, 31 March 2020) ・"Implementation Guidance on Accounting Standard for Revenue Recognition" (Implementation Guidance No. 30, 31 March 2020) (2) Scheduled adoption date The standard is scheduled to be adopted from the beginning of the fiscal year ending February 2023. (3) Impact of adopting the accounting standard The impact is being assessed as of the time of preparation of these financial statements.」
The company has for the first time stated that the new accounting standards on revenue recognition, fair value measurement, and disclosures of accounting policies and estimates are scheduled to be adopted from the fiscal year ending February 2022 or February 2023, and that the impact is being assessed.