Applying the Five-Step Model for Revenue Recognition under IFRS 15
First written in FY2019-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
2 other companies' latest entry also says "Other".
- FY2022Applying the revenue recognition standard to the separate financial statements prepared under Japanese standardsAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 26 March 2021) were applied from the beginning of the current fiscal year. Revenue is recognized at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
In addition to applying IFRS 15 to the consolidated financial statements, the domestic revenue recognition accounting standard was applied to the separate financial statements of the filing company. There was no impact on the opening balance of retained earnings or other items. - FY2019-Q3RestatedAnnual report
「The Group has applied IFRS 15, Revenue from Contracts with Customers (published in May 2014), and Clarifications to IFRS 15 (published in April 2016), collectively referred to below as “IFRS 15,” from the first quarter of the current fiscal year.」
Application of IFRS 15 and revenue recognition based on the five-step approach have continued from the first quarter. - FY2019-Q2RestatedAnnual report
「The Group has applied IFRS 15, Revenue from Contracts with Customers (published in May 2014), and Clarifications to IFRS 15 (published in April 2016), collectively referred to below as “IFRS 15,” from the first quarter of the current fiscal year.」
IFRS 15 was applied from the first quarter, and revenue recognition based on the five-step approach has continued. - FY2019-Q1First statedAnnual report
「The Group has applied IFRS 15, Revenue from Contracts with Customers (published in May 2014), and Clarifications to IFRS 15 (published in April 2016), collectively referred to below as “IFRS 15,” from the first quarter of the current fiscal year. Upon applying IFRS 15, the Group recognizes revenue based on the following five-step approach: Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when the entity satisfies a performance obligation.」
IFRS 15 was applied from the first quarter, and the five-step approach, from identifying contracts through recognizing revenue when performance obligations are satisfied, was adopted. It states that there was no impact on operating results or financial position.