Application of the Accounting Standard for Revenue Recognition and Allocation of Performance Obligations Over Time
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
10 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, revenue for the current consolidated fiscal year increased by ¥42.659 million, cost of sales increased by ¥2.021 million, and operating profit, ordinary profit and profit before income taxes increased by ¥40.638 million each.」
The full-year impact of applying the revenue recognition standard became more specific, with revenue increasing by ¥42.659 million and operating profit, ordinary profit and other income items increasing by ¥40.638 million. - FY2022-Q3AdvancedAnnual report
「As a result, revenue for the cumulative third quarter of the current consolidated fiscal year increased by ¥193.208 million, cost of sales increased by ¥115.809 million, and operating profit, ordinary profit and profit before income taxes increased by ¥77.399 million each. Retained earnings at the beginning of the fiscal year also increased by ¥24.974 million.」
The impact of applying the revenue recognition standard was updated for the cumulative third quarter, with revenue increasing by ¥193.208 million, cost of sales by ¥115.809 million, and operating profit, ordinary profit and profit before income taxes by ¥77.399 million each. - FY2022-Q2AdvancedAnnual report
「As a result, revenue for the cumulative second quarter of the current consolidated fiscal year increased by ¥134.383 million, cost of sales increased by ¥98.874 million, and operating profit, ordinary profit and profit before income taxes increased by ¥35.508 million each. Retained earnings at the beginning of the fiscal year also increased by ¥24.974 million.」
The impact of applying the revenue recognition standard on the cumulative second quarter became more specific, including the effects of allocation over time based on progress. Revenue increased by ¥134.383 million, operating profit and other income items increased by ¥35.508 million, and retained earnings at the beginning of the fiscal year increased by ¥24.974 million. - FY2022-Q1First statedAnnual report
「We applied the revenue recognition standard and other relevant standards from the beginning of the first quarter of the current consolidated fiscal year, and now recognize revenue 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. Accordingly, for contracts previously accounted for under the acceptance method in which performance obligations are satisfied over a specified period, we changed the method to recognize revenue over that period based on the progress toward satisfying the performance obligation, with the progress estimated accordingly.」
From 1 April 2021, the company applied the revenue recognition standard and changed its method of recognizing revenue for contracts in which performance obligations are satisfied over a specified period to allocation over time based on progress measured by the proportion of costs incurred. In the first quarter, revenue increased by ¥14.375 million, operating profit and other income items increased by ¥4.551 million, and retained earnings at the beginning of the fiscal year increased by ¥24.974 million.