Future Adoption of the Accounting Standard for Revenue Recognition
First written in FY2020. 1 of 2 entries say "Achieved", first in FY2023-Q1. Latest entry: FY2023-Q1.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
10 other companies' latest entry also says "Achieved".
- FY2023-Q1AchievedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter the “Revenue Recognition Standard”) and related standards from the beginning of the current first-quarter accounting period. 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 company adopted the accounting standards for revenue recognition and related standards from the beginning of the first quarter of the current fiscal year, rather than merely listing them as planned in the previous fiscal year. It also changed the timing of revenue recognition for delivery services, the treatment of packing and freight costs as cost of sales, and the accounting treatment of its points program. - FY2020First statedAnnual report
「This is scheduled to apply from the beginning of the fiscal year ending January 2023.」
The company states for the first time that the accounting standards for revenue recognition and related standards are scheduled to apply from the beginning of the fiscal year ending January 2023.