Changes in Revenue and Loyalty-Point Accounting Following Adoption of the Accounting Standard for Revenue Recognition
First written in FY2023-Q2. 2 of 3 entries say "Advanced", first in FY2023-Q3. Latest entry: FY2023.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
8 other companies' latest entry also says "Advanced".
- FY2023AdvancedAnnual report
「As a result, for the current consolidated fiscal year, revenue and operating revenue decreased by ¥3.184 billion, cost of sales decreased by ¥2.019 billion, and selling, general and administrative expenses decreased by ¥1.165 billion. There was no impact on operating income, ordinary income or profit before income taxes.」
The disclosed impact of applying the revenue recognition accounting standard on full-year revenue and operating revenue, cost of sales, and selling, general and administrative expenses. - FY2023-Q3AdvancedAnnual report
「As a result, during the cumulative third quarter of the current consolidated fiscal year, revenue and operating revenue decreased by ¥2.157 billion, cost of sales decreased by ¥1.413 billion, and selling, general and administrative expenses decreased by ¥743 million. There was no impact on operating income, ordinary income or profit before income taxes. The opening balance of retained earnings also decreased by ¥44 million.」
The disclosed impact of applying the revenue recognition accounting standard for the cumulative third quarter was a ¥2.157 billion decrease in revenue and operating revenue, a ¥1.413 billion decrease in cost of sales, a ¥743 million decrease in selling, general and administrative expenses, and a ¥44 million decrease in the opening balance of retained earnings. - FY2023-Q2First statedAnnual 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 company applied the revenue recognition accounting standard and related standards from the beginning of the current fiscal year and changed its revenue recognition method, including for its points program.