Risk of Changes to the Consolidation Scope and Presentation Policies Due to Changes in Accounting Standards
First written in FY2016. 2 of 13 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2020: 1 of 7 companies on the "Worse" side.
2 other companies' latest entry also says "Other".
- FY2027-H1Changed the presentation classification of rental income and expensesAnnual report
「Previously, rental income and rental expenses from real estate after its transfer to real estate held for sale due to a change in the holding purpose were presented as “rental income received” under non-operating income and “Other” under non-operating expenses, respectively. However, because the Company determined that operating results could be presented more appropriately by reviewing the scope of net sales, cost of sales, non-operating income and non-operating expenses, it changed the presentation method from the current interim consolidated accounting period to present them under “net sales” and “cost of sales.”」
For rental income and expenses from real estate after a change in holding purpose, the presentation classification was changed from non-operating items to net sales and cost of sales. - FY2025RestatedAnnual report
「The standard will be applied from the beginning of the fiscal year ending October 2028.」
The policy of continuing to state that the lease accounting standard and other standards are scheduled to be applied from the beginning of the fiscal year ending October 2028, with the impact currently under assessment, remains in place. - FY2024Addition of Planned Lease Accounting Standard AdoptionAnnual report
「The standard will be applied from the beginning of the fiscal year ending October 2028.」
The Company disclosed that the unimplemented lease accounting standard and other standards were scheduled to be applied from the beginning of the fiscal year ending October 2028 and that the impact was under assessment. - FY2023-Q1Applied the fair value measurement guidance and the consolidated tax-sharing system from the beginning of the fiscal yearAnnual report
「The Company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement from the beginning of the first quarter of the current consolidated fiscal year, with no impact on the quarterly consolidated financial statements. In addition, it transitioned from the consolidated taxation system to the consolidated tax-sharing system from the current first quarter of the consolidated fiscal year.」
The Company stated that it applied the implementation guidance for the fair value measurement accounting standard from the beginning of the fiscal year, with no impact on the financial statements. It also applied the accounting treatment and disclosures associated with the transition to the consolidated tax-sharing system. - FY2022-Q1Applied the revenue recognition and fair value measurement accounting standards from the beginning of the fiscal yearAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and other standards 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. Accordingly, the application of the Revenue Recognition Accounting Standard and other standards had no impact on the quarterly consolidated financial statements.」
The Company stated that it applied the revenue recognition standard from 1 April 2021 and that it had no impact on the financial statements. It also applied the fair value measurement accounting standard and other standards from the same date. - FY2021Applied the disclosure standard for accounting estimatesAnnual report
「We applied the “Accounting Standard for Disclosure of Accounting Estimates” (Accounting Standard No. 31, 31 March 2020) from the consolidated financial statements for the fiscal year-end and included notes on significant accounting estimates in the consolidated financial statements.」
In addition to responding to previous changes in accounting standards, the Company applied the notes concerning accounting estimates from the end of the current consolidated fiscal year. The revenue recognition and fair value measurement standards and other standards were scheduled to be applied from the beginning of the fiscal year ending March 2022, and the impact was under assessment. - FY2021-Q2Applied tax-effect accounting related to the transition to the consolidated tax-sharing systemAnnual report
「Regarding the transition by the Company and its consolidated subsidiaries to the consolidated tax-sharing system established under the Act Partially Amending the Income Tax Act and Other Acts (Act No. 8 of 2020), and the items for which the single-entity tax filing system was revised in connection with that transition, the Company applies the provisions of paragraph 3 of the Practical Response Report No. 39, Treatment of the Application of Tax-Effect Accounting Related to the Transition from the Consolidated Taxation System to the Consolidated Tax-Sharing System (31 March 2020), and does not apply paragraph 44 of the Implementation Guidance on Accounting Standard for Tax Effect Accounting (ASBJ Guidance No. 28, 16 February 2018). The amounts of deferred tax assets and deferred tax liabilities are therefore based on the provisions of the tax laws before the revisions.」
The accounting treatment for tax-effect accounting related to the transition from the consolidated taxation system to the consolidated tax-sharing system was applied in the current quarter. - FY2020Addition of unimplemented accounting standards and specification of implementation timingAnnual report
「The amount of the impact on the consolidated financial statements from applying the Accounting Standard for Revenue Recognition and related guidance is currently under assessment.」
The Company stated that it planned to apply the revenue recognition and fair value measurement standards and other standards from the beginning of the fiscal year ending March 2022, and the disclosure standards for accounting estimates and other standards from the end of the fiscal year ending March 2021. - FY2019Clarification of the scheduled implementation of the revenue recognition standardAnnual report
「We will apply the standard from the beginning of the fiscal year ending March 2022.」
The Company planned to apply the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending March 2022 and was assessing the impact on the consolidated financial statements at that time. - FY2019-Q1Application of the Accounting Standard for Tax Effect AccountingAnnual report
「We have applied the Partial Amendments to the Accounting Standard for Tax Effect Accounting and other relevant standards from the beginning of the first quarter of the current fiscal year. Deferred tax assets are presented under investments and other assets, and deferred tax liabilities under non-current liabilities.」
In response to changes in accounting standards, the Company applied the revised standards concerning tax-effect accounting from the beginning of the current quarter and changed the presentation classification. - FY2018Clarification of the implementation of the revenue recognition standardAnnual report
「The Company is currently assessing the impact on the consolidated financial statements of applying the Accounting Standard for Revenue Recognition and other standards.」
A new revenue recognition accounting standard was published and was scheduled to be applied from the beginning of the fiscal year ending March 2032. The impact on the consolidated financial statements was under assessment. - FY2017RestatedAnnual report
「If, as a result of the establishment of new accounting standards or publication of implementation guidance, accounting practices that differ significantly from the policies adopted by the Group for determining the scope of consolidation of investment business partnerships and similar entities become established, the Group's policy for determining the scope of consolidation may also change significantly, which could affect the Group's operating results and financial condition.」
The risk of changes in the scope of consolidation and presentation policies due to changes in accounting standards continues. - FY2016First statedAnnual report
「If, as a result of the establishment of new accounting standards or publication of implementation guidance, accounting practices that differ significantly from the policies adopted by the Group for determining the scope of consolidation of investment business partnerships and similar entities become established, the Group's policy for determining the scope of consolidation may also change significantly, which could affect the Group's operating results and financial condition.」
The disclosure addresses the risk of changes in accounting policies concerning the scope of consolidation of investment business partnerships and similar entities and operating investment recipients.