Koryojyuhan (3495) · PolicyRestated
Inclusion of Non-Deductible Consumption Taxes, etc. Related to Real Estate Held for Sale and Fixed Assets in Acquisition Cost
First written in FY2022-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022.
2entries
1years
0from disclosures
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Capitalization of Non-Deductible Consumption Tax in the Cost of Held Real EstateA theme 8 companies write about · 0 as a headwind · 2 as a tailwind
3 other companies' latest entry also says "Restated".
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- FY2022RestatedAnnual report
「For non-creditable consumption taxes and other taxes related to real estate held for sale and property, plant and equipment acquired on or after 1 October 2021, the accounting method was changed to include those amounts in the acquisition cost of the relevant assets.」
The Company continues to apply the accounting policy of including non-creditable consumption taxes and other taxes related to real estate held for sale and property, plant and equipment in acquisition costs. - FY2022-Q1First statedAnnual report
「For non-creditable consumption taxes and other taxes related to real estate held for sale and property, plant and equipment acquired on or after 1 October 2021, the accounting method was changed to include those amounts in the acquisition cost of the relevant assets.」
The accounting policy was changed from recognising the amounts as period expenses to including them in acquisition costs, and the change was applied retrospectively. The Company explains that this is reasonable from the perspective of matching costs with revenues, in line with its policy of significantly increasing the number of properties held for investment and developed according to its own plans.