Change to the Estimated Effective Tax Rate Method for Tax Expense
First written in FY2021-Q2. 1 of 2 entries say "Restated". Latest entry: FY2021-Q3.
100 other companies' latest entry also says "Restated".
- FY2021-Q3RestatedAnnual report
「Previously, the Company calculated income tax expense using the standard method. To further improve the efficiency of its quarterly closing procedures, from the first quarter it changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the fiscal year, and calculates income tax expense by multiplying pretax quarterly income by that estimated effective tax rate.」
The Company continues to apply the method of calculating income tax expense using the estimated effective tax rate introduced from the first quarter. - FY2021-Q2First statedAnnual report
「Previously, the Company calculated income tax expense using the standard method. To further improve the efficiency of its quarterly closing procedures, from the first quarter it changed to a method that reasonably estimates the effective tax rate after applying tax-effect accounting to pretax income for the fiscal year, and calculates income tax expense by multiplying pretax quarterly income by that estimated effective tax rate.」
To improve the efficiency of quarterly closing procedures, the Company changed to a method of calculating income tax expense using an estimated effective tax rate from the first quarter. The impact was immaterial, and no retrospective application was made.