Uncertainty in Accounting Estimates Due to COVID-19
First written in FY2021-Q2. 6 of 8 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2023: 3 of 36 companies on the "Worse" side.
39 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「Although uncertainty arising from COVID-19 and other factors remains substantial, and some factors are difficult to reflect in projected figures for future business plans and other matters, we are conducting reviews and other procedures based on information available at the end of the period.」
The company continues to disclose that uncertainty in future business plans and accounting estimates arising from the infection and other factors remains substantial. - FY2023-Q3RestatedAnnual report
「Regarding the impact of COVID-19, we have made estimates concerning the recoverability of deferred tax assets and the determination of impairment losses, among other matters, on the assumption that the impact on our group will continue for a certain period during the current consolidated fiscal year but will gradually recover going forward.」
The company has reconfirmed its policy of estimating deferred tax assets and impairment losses based on the assumption that the impact of the infection will continue for a certain period before gradually recovering. - FY2023-Q2RestatedAnnual report
「Regarding the impact of COVID-19, we have made estimates concerning the recoverability of deferred tax assets and the determination of impairment losses, among other matters, on the assumption that the impact on our group will continue for a certain period during the current consolidated fiscal year but will gradually recover going forward.」
The company has reconfirmed its policy of estimating deferred tax assets and impairment losses based on the assumption that the impact of the infection will continue for a certain period before gradually recovering. - FY2023-Q1RestatedAnnual report
「Regarding the impact of COVID-19, we have made estimates concerning the recoverability of deferred tax assets and the determination of impairment losses, among other matters, on the assumption that the impact on our group will continue for a certain period during the current consolidated fiscal year but will gradually recover going forward.」
The company is estimating deferred tax assets and impairment losses based on the assumption that the impact of the infection will continue for a certain period before gradually recovering. - FY2022-Q2RestatedAnnual report
「The spread of COVID-19 is affecting the business activities of our group. Because it is difficult to predict how the spread will develop and when it will subside, it is particularly difficult to forecast future cash flows when making accounting estimates.」
The company continues to disclose that accounting estimates are subject to uncertainty because it is difficult to predict the extent and timing of the infection’s spread and subsidence and future cash flows. - FY2022-Q1RestatedAnnual report
「The spread of COVID-19 is affecting the business activities of our group. Because it is difficult to predict how the spread will develop and when it will subside, it is particularly difficult to forecast future cash flows when making accounting estimates.」
The company continues to disclose uncertainty in accounting estimates because it is difficult to predict the extent and timing of the infection’s spread and subsidence and future cash flows. - FY2021MaterialisedAnnual report
「We recorded impairment losses of ¥2,339.58 million as extraordinary losses for 8 operating assets, 3 rental assets and 2 idle assets.」
Against a backdrop including reduced demand due to the infection, fixed-asset impairment losses of ¥2,339 million were actually recognized. The uncertainty in accounting estimates has materialized as impairment losses. - FY2021-Q2First statedAnnual report
「The spread of COVID-19 is affecting the business activities of our group. Because it is difficult to predict how the spread will develop and when it will subside, it is particularly difficult to forecast future cash flows when making accounting estimates. Accordingly, in estimating the recoverability of deferred tax assets and determining impairment losses, among other matters, we have made our best estimates based on information available when preparing the quarterly consolidated financial statements, using the assumption that the infection will not subside during the current period but that consumer spending will gradually recover toward the end of the current consolidated fiscal year.」
The company has, for the first time, expressly identified the difficulty of forecasting the spread and subsidence of the infection and future cash flows as uncertainty in accounting estimates, and has applied certain recovery assumptions to deferred tax assets and impairment testing.