Application of the Revenue Recognition Accounting Standard for the Fiscal Year Ending June 2022
First written in FY2021. 1 of 3 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q3.
82 other companies' latest entry also says "Other".
- FY2022-Q3Update to the cumulative impact of applying the revenue recognition standardAnnual report
「As a result, sales for the cumulative third quarter of the consolidated fiscal year decreased by ¥67.246 million, while cost of sales decreased by ¥81.855 million and operating income, ordinary income and profit before income taxes for the quarter each increased by ¥14.608 million.」
The Company disclosed that application of the Accounting Standard for Revenue Recognition from the beginning of FY2022 reduced sales by ¥67.246 million and increased operating income, ordinary income and other items by ¥14.608 million through the third quarter. - FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter of the current consolidated fiscal year, we adopted the 'Accounting Standard for Revenue Recognition' (ASBJ Statement No. 29, 31 March 2020) and related standards. We now recognize revenue 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 Company applied the planned Accounting Standard for Revenue Recognition from the first quarter, the beginning of the fiscal year ending June 2022. It changed the allocation of membership and renewal fees over the contract period, the presentation of principal and agent transactions on a gross or net basis, and the recognition of performance obligations relating to points. As a result, sales decreased by ¥17.490 million and ordinary income increased by ¥9.062 million during the quarter. - FY2021First statedAnnual report
「The standard will be applied from the beginning of the fiscal year ending June 2022. Membership fees and renewal fees under franchise agreements, for which revenue had been recognised upon receipt, will instead be recognised over the contract period based on a reasonable basis.」
The Company planned to apply the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending June 2022, changing the revenue recognition methods for franchise membership and renewal fees, agent transactions and points. The impact was expected to be immaterial.