Adoption of the Accounting Standard for Revenue Recognition and Changes in Presentation to Contract Assets and Contract Liabilities
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
16 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the current fiscal year, and 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 is transferred to the customer.」
The application of the Accounting Standard for Revenue Recognition and presentation and recognition using contract assets and contract liabilities continued throughout the fiscal year. - FY2023-Q3RestatedAnnual report
「The Revenue Recognition Standard and other relevant standards were applied from the beginning of the first quarter of the current accounting period. Revenue is 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.」
The application of the Accounting Standard for Revenue Recognition and the presentation changes to contract assets and contract liabilities continue to be applied. - FY2023-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the first quarter of the current fiscal year, and 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 is transferred to the customer. Previously, for contracts involving made-to-order software, the percentage-of-completion method was applied to contracts for which the certainty of results was recognized in the progress of development, while the completed-contract method was applied to other contracts. However, when control of goods or services is transferred to the customer over a specified period, revenue is now recognized over that period as performance obligations are satisfied. As a result, for the cumulative first-quarter period, net sales decreased by ¥6.712 million, cost of sales decreased by ¥14.067 million, and operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥7.355 million.」
The Accounting Standard for Revenue Recognition and related standards were applied from the first quarter beginning 1 March 2022, changing the revenue recognition method. The changes in net sales, cost of sales and profit, as well as the reclassification of accounts receivable and advances received as contract assets and contract liabilities, are described.