Changes in Revenue Recognition and Presentation Due to the Adoption of the Revenue Recognition Standard
First written in FY2023-Q1. . Latest entry: FY2023.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
7 other companies' latest entry also says "Other".
- FY2023Update to the full-year impact of applying accounting standardsAnnual report
「As a result, net sales for the current consolidated fiscal year decreased by ¥121.783 million, cost of sales decreased by ¥108.926 million, selling, general and administrative expenses decreased by ¥18.786 million, and operating income, ordinary income and profit before income taxes for the fiscal year each increased by ¥5.929 million. The beginning balance of retained earnings for the fiscal year also decreased by ¥13.804 million.」
The company reports the full-year impact of applying the Accounting Standard for Revenue Recognition and related standards, with net sales down ¥121.783 million and operating income, ordinary income and other income figures each up ¥5.929 million. - FY2023-Q3Update to the impact of applying accounting standardsAnnual report
「As a result, net sales for the cumulative third quarter of the current consolidated fiscal year decreased by ¥97.617 million, cost of sales decreased by ¥88.199 million, selling, general and administrative expenses decreased by ¥13.714 million, and operating income, ordinary income and profit before income taxes for the quarter each increased by ¥4.296 million. The beginning balance of retained earnings for the fiscal year also decreased by ¥13.804 million.」
The company updated the impact of applying the Accounting Standard for Revenue Recognition and related standards for the cumulative third quarter, reporting a ¥97.617 million decrease in net sales and ¥4.296 million increases in operating income, ordinary income and other income figures. - FY2023-Q2Update to the impact of applying accounting standardsAnnual report
「As a result, net sales for the cumulative second quarter of the current consolidated fiscal year decreased by ¥60.594 million, cost of sales decreased by ¥54.271 million, selling, general and administrative expenses decreased by ¥9.137 million, and operating income, ordinary income and profit before income taxes for the quarter each increased by ¥2.814 million. The beginning balance of retained earnings for the fiscal year also decreased by ¥13.804 million.」
The company continues to apply the accounting standard for revenue recognition and reports its impact on net sales, expenses and retained earnings for the cumulative second quarter. - FY2023-Q1First statedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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 transfers to the customer.」
The company applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the first quarter of the current consolidated fiscal year, changing certain sales transactions from gross to net presentation and changing the method of identifying the company's own points as performance obligations. As a result, net sales decreased by ¥33.726 million, while operating income, ordinary income and profit before income taxes for the quarter each increased by ¥1.484 million, and the beginning balance of retained earnings decreased by ¥13.804 million.