Changes in Revenue Recognition Methods בעקבות Application of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 2 of 3 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022-Q3.
2 other companies' latest entry also says "Advanced".
- FY2022-Q3AdvancedAnnual report
「As a result, net sales for the nine months ended the third quarter increased by ¥128.808 million and cost of sales increased by ¥8.436 million. Operating profit, ordinary profit and quarterly profit before income taxes each increased by ¥120.372 million. Retained earnings at the beginning of the period also decreased by ¥398.668 million.」
The impact of applying the Revenue Recognition Accounting Standard was updated for the nine months ended the third quarter. Net sales increased by ¥128.808 million, cost of sales by ¥8.436 million, and operating profit and other profit by ¥120.372 million, while retained earnings at the beginning of the period decreased by ¥398.668 million. - FY2022-Q2AdvancedAnnual report
「As a result, net sales for the six months ended the second quarter increased by ¥103.524 million and cost of sales increased by ¥12.292 million. Operating profit, ordinary profit and quarterly profit before income taxes each increased by ¥91.232 million. Retained earnings at the beginning of the period also decreased by ¥398.668 million.」
The impact of applying the Revenue Recognition Accounting Standard was disclosed for the six months ended the second quarter. Net sales increased by ¥103.524 million, cost of sales by ¥12.292 million, and operating profit and other profit by ¥91.232 million, while retained earnings at the beginning of the period decreased by ¥398.668 million. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards have been applied from the beginning of the first quarter of the current consolidated fiscal year. Revenue is now recognized 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. Accordingly, franchise membership fees and revenue from the introduction of IT services, which were previously recognized in full when the franchise agreement was signed, are now recognized over 3 years, the historical average contract period.」
The Revenue Recognition Accounting Standard and other standards were applied from 1 July 2021, changing the method for recognizing franchise membership fees and revenue from the introduction of IT services from full recognition at contract signing to recognition over the historical average contract period of 3 years. Revenue from construction contracts was also changed to be recognized over the period in which performance obligations are satisfied or upon completion of construction. As a result, quarterly net sales increased by ¥33.185 million, operating profit and other profit increased by ¥35.048 million, and retained earnings at the beginning of the period decreased by ¥398.668 million.