Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 1 of 2 entries say "Achieved", first in FY2022. Latest entry: FY2022.
The whole theme swung hardest in 2020: 1 of 11 companies on the "Worse" side.
7 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards have been applied from the beginning of the current consolidated fiscal year. Revenue is recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer.」
The Revenue Recognition Standard and other standards were applied from the beginning of the consolidated fiscal year on 1 September 2021, and the company transitioned to an accounting policy under which revenue is recognized when performance obligations are satisfied. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards have been applied from the beginning of the first quarter of the current fiscal year. Accordingly, the key management indicators and other information for the cumulative first-quarter period are based on application of these standards.」
The Accounting Standard for Revenue Recognition and other standards were applied from the beginning of the first quarter of the current accounting period, and the company transitioned to an accounting policy under which revenue is recognized when control of goods or services transfers to customers. The impact on profit and loss was immaterial, and there was no impact on the opening balance of retained earnings.