Potential Changes to Revenue Recognition Following Adoption of ASU 2014-09 (Revenue Recognition Standard)
First written in FY2018-Q1. 3 of 6 entries say "Restated". Latest entry: FY2019.
Internet Initiative Japan moved to the "Worse" side of this theme in 2019.
0 other companies' latest entry also says "Reframed".
- FY2019ReframedAnnual report
「Our group applies IFRS 15 and recognizes revenue based on the following five-step approach.」
The framework shifted from revenue recognition issues under the former US GAAP to revenue recognition based on the performance obligations and allocation of the transaction price under IFRS 15. - FY2019-Q1MitigatedAnnual report
「We have applied this ASU from the first quarter beginning on 1 April 2018. We adopted the modified retrospective approach, and application of this ASU increased retained earnings at the beginning of the period by ¥381.678 million. The effect on financial position and operating results for the first quarter was immaterial.」
Application of ASU 2014-09 began, resulting in an impact of ¥381.678 million on retained earnings at the beginning of the period, while the effect on financial position and operating results for the first quarter was assessed as immaterial. - FY2018RestatedAnnual report
「Our group is currently finalizing its assessment of the effects of applying this standard, and believes that its application will not have a material effect on our group's financial position or operating results.」
The assessment of the effects of ASU 2014-09 is being finalized, and the expectation that it will have no material effect on financial position or operating results has been reconfirmed. - FY2018-Q3RestatedAnnual report
「Our group continues to assess the potential effects of this standard, and its preliminary conclusions may change.」
The effects of ASU 2014-09 on revenue allocation, the timing of recognition and costs to obtain contracts remain under assessment. - FY2018-Q2RestatedAnnual report
「Our group continues to assess the potential effects of this standard, and its preliminary conclusions may change.」
We continue to assess the effects of ASU 2014-09 on revenue allocation, the timing of recognition and costs to obtain contracts, and have reiterated that the conclusions may change. - FY2018-Q1First statedAnnual report
「Our group expects no changes to most of its broad range of revenue recognition for hardware, software and services provided. However, this standard is expected to change the allocation of revenue among various services and equipment, as well as the timing of revenue recognition in certain areas. Our group currently assesses these effects as immaterial.」
The new revenue recognition standard, scheduled to be applied retrospectively with adjustments from 1 April 2018, may change revenue allocation and the timing of recognition. The effects are preliminarily assessed as immaterial at this time, and the assessment remains ongoing.