Adoption of New Accounting Standards for Revenue Recognition and Fair Value Measurement
First written in FY2022-Q1. 3 of 5 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2024-Q2.
2 other companies' latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「Research and development expenditure for the six-month period ended [current second quarter] was ¥4 million. There were no material changes in the Group's research and development activities during the period.」
There were no significant changes in research and development activities during the quarter, and no new changes to existing accounting or disclosure policies were reported. - FY2022AdvancedAnnual report
「As a result, net sales for the consolidated fiscal year decreased by ¥46.310 million and cost of sales decreased by ¥39.369 million, while operating loss increased by ¥6.941 million and ordinary income and income before income taxes decreased by ¥6.941 million.」
The impact of the revenue recognition accounting standard applied from the beginning of the fiscal year on net sales, cost of sales, operating loss and other items was quantified on a year-to-date basis. - FY2022-Q3AdvancedAnnual report
「As a result, for the cumulative third-quarter consolidated period, net sales decreased by ¥39 million and cost of sales decreased by ¥33 million, while operating loss, ordinary loss and loss before income taxes increased by ¥6 million.」
The impact of the revenue recognition accounting standard applied from the first quarter was quantified for the cumulative third-quarter period as a ¥39 million decrease in net sales, a ¥33 million decrease in cost of sales and a ¥6 million increase in each loss. - FY2022-Q2AdvancedAnnual report
「As a result, for the cumulative second-quarter consolidated period, net sales decreased by ¥27 million and cost of sales decreased by ¥25 million, while operating loss, ordinary loss and loss before income taxes increased by ¥2 million.」
The impact of the revenue recognition accounting standard applied from the first quarter was quantified for the cumulative second-quarter period as a ¥27 million decrease in net sales, a ¥25 million decrease in cost of sales and a ¥2 million increase in each loss. - FY2022-Q1First statedAnnual 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. As a result, for transactions conducted as an agent, the company changed from recognizing revenue at the gross amount of consideration received from customers to recognizing revenue at the net amount after deducting payments to suppliers. In addition, franchise membership fees and certain renewal fees under franchise agreements, which were previously recognized as revenue at a point in time, are now recognized as revenue over a specified period.」
The revenue recognition accounting standard was applied from the beginning of the first quarter, changing agent transactions from gross to net presentation and FC membership fee revenue and other items from point-in-time to over-time recognition. As a result of applying the revenue recognition standard, net sales and cost of sales for the quarter each decreased by ¥17 million. The fair value measurement accounting standard and other standards were also applied at the same time, but had no impact on the financial statements.