Review of the Timing and Impact of Applying the Revenue Recognition Accounting Standard
First written in FY2018. 2 of 5 entries say "Reframed", first in FY2020. Latest entry: FY2021.
18 other companies' latest entry also says "Achieved".
- FY2021AchievedAnnual report
「The Accounting Standard for Revenue Recognition and the Implementation Guidance on Accounting Standard for Revenue Recognition were applied from the beginning of the current consolidated fiscal year, and 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.」
The revenue recognition accounting standard moved beyond the consideration stage and was applied from the beginning of the current fiscal year. Revenue decreased by ¥4,187.8 million, while operating income and other items increased by ¥204 million. - FY2021-Q1ReframedAnnual report
「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, or as, performance obligations are satisfied.」
The group has moved from considering the application of the revenue recognition accounting standard under Japanese GAAP to a framework that actually applies a five-step revenue recognition policy upon its initial adoption of IFRS. - FY2020ReframedAnnual report
「Because the group plans to voluntarily adopt International Financial Reporting Standards (IFRS) from the first quarter of the fiscal year ending March 2021, it does not plan to apply this accounting standard, and has not assessed its impact on the consolidated financial statements.」
The group has moved from considering the timing and impact of applying the revenue recognition accounting standard to concluding that it does not plan to apply the standard under Japanese GAAP, on the assumption that it will voluntarily adopt IFRS in the first quarter of the fiscal year ending March 2021. - FY2019RestatedAnnual report
「The effective date is currently under consideration. The amount of the impact was under evaluation when these consolidated financial statements were prepared.」
The effective date and impact of the revenue recognition accounting standard remain under consideration. - FY2018First statedAnnual report
「The Accounting Standard for Revenue Recognition and the Implementation Guidance on Accounting Standard for Revenue Recognition are currently under consideration with respect to their effective date. The amount of the impact of applying these accounting standards and guidance was under evaluation when these consolidated financial statements were prepared.」
This is the first disclosure that the effective date of the new accounting standard on revenue recognition and its impact on the financial statements are under consideration.