Preparation for applying IFRS 15 and IFRS 16
First written in FY2018. 4 of 6 entries say "Advanced", first in FY2019-Q1. Latest entry: FY2020-Q1.
The whole theme swung hardest in 2020: 2 of 22 companies on the "Worse" side.
4 other companies' latest entry also says "Achieved".
- FY2020-Q1AchievedAnnual report
「The group has applied IFRS 16, Leases, from the current fiscal year. As a result of the transition to IFRS 16, it additionally recognized right-of-use assets of ¥2,354.619 million and lease liabilities of ¥2,471.727 million. The difference was recognized mainly as decreases of ¥97.243 million in retained earnings and ¥38.971 million in non-controlling interests at the date of initial application.」
The company applied IFRS 16, Leases, which had been in the preparation stage, from the current fiscal year and recognized right-of-use assets and lease liabilities in its accounts. - FY2019AdvancedAnnual report
「The company applied IFRS 15 from the beginning of the current fiscal year. Accordingly, revenue from software development related to the introduction of payment processing services, which was previously recognized in full upon acceptance, is now recognized on a time-apportioned basis over the period of the payment processing service contract. As a result, ¥709 million of the relevant revenue was reclassified from initial to recurring.」
The company applied IFRS 15 for the full fiscal year and reclassified ¥709 million of software development revenue from initial to recurring. In addition, the application of IFRS 16 is expected to increase right-of-use assets by approximately ¥2.3 billion and lease liabilities by approximately ¥2.4 billion at the beginning of the fiscal year ending September 2020. - FY2019-Q3AdvancedAnnual report
「The company applied IFRS 15 from the beginning of the current fiscal year. Accordingly, revenue from software development related to the introduction of payment processing services, which was previously recognized in full upon acceptance, is now recognized on a time-apportioned basis over the period of the payment processing service contract. The relevant revenue item was therefore changed from initial to recurring. During the cumulative third quarter, approximately ¥527 million was reclassified from initial revenue to recurring revenue as a result of this accounting change.」
The company continues to recognize software development revenue on a time-apportioned basis following the application of IFRS 15. During the cumulative third quarter, approximately ¥527 million was reclassified from initial revenue to recurring revenue. The reclassification increased from approximately ¥355 million in the cumulative previous quarter. - FY2019-Q2AdvancedAnnual report
「The company applied IFRS 15 from the beginning of the current fiscal year. Accordingly, revenue from software development related to the introduction of payment processing services, which was previously recognized in full upon acceptance, is now recognized on a time-apportioned basis over the period of the payment processing service contract. The relevant revenue item was therefore changed from initial to recurring. During the cumulative second quarter, approximately ¥355 million was reclassified from initial revenue to recurring revenue as a result of this accounting change.」
The company continues to recognize software development revenue on a time-apportioned basis after applying IFRS 15 from the beginning of the fiscal year. During the cumulative second quarter, approximately ¥355 million was reclassified from initial revenue to recurring revenue. - FY2019-Q1AdvancedAnnual report
「The company applied IFRS 15 from the first quarter of the current fiscal year. Accordingly, revenue from software development related to the introduction of payment processing services, which was previously recognized in full upon acceptance, is now recognized on a time-apportioned basis over the period of the payment processing service contract. The relevant revenue item was therefore changed from initial to recurring. During the cumulative first quarter, approximately ¥180 million was reclassified from initial revenue to recurring revenue as a result of this accounting change.」
The company began applying IFRS 15 from the first quarter beginning 1 October 2018 and moved to accounting for software development revenue on a time-apportioned basis over the contract service period. Approximately ¥180 million was reclassified from initial revenue to recurring revenue. No new disclosure on IFRS 16 was included in this filing. - FY2018First statedAnnual report
「The main impact of applying IFRS 15, Revenue from Contracts with Customers, is a change in the accounting treatment of revenue from software development and related services. Under the standard, revenue from software development and related services that was previously recognized as a one-time gain upon acceptance will be recognized over the contract period. As a result, retained earnings at the beginning of the fiscal year ending September 2019 are expected to decrease by approximately ¥300 million.」
The company indicated plans to apply IFRS 15 from the fiscal year ending September 2019 and IFRS 16 from the fiscal year ending September 2020, and disclosed an expected impact of approximately ¥300 million from IFRS 15 on retained earnings at the beginning of the fiscal year.