Adoption of the Revenue Recognition Accounting Standard
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023-Q3.
91 other companies' latest entry also says "Restated".
- FY2023-Q3RestatedAnnual report
「Following the application of the Accounting Standard for Revenue Recognition and other standards, net sales and cost of sales for the cumulative third quarter increased by ¥35 million each. There was no impact on the opening balance of retained earnings.」
The company continues to apply the Accounting Standard for Revenue Recognition and disclosed that net sales and cost of sales each increased by ¥35 million for the cumulative third quarter. - FY2023-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition and other standards have been applied from the beginning of the first quarter of the current fiscal year. As a result, net sales and cost of sales for the cumulative second quarter increased by ¥32 million each. There was no impact on the opening balance of retained earnings.」
The company continues to apply the Accounting Standard for Revenue Recognition and disclosed that net sales and cost of sales each increased by ¥32 million for the cumulative second quarter. - FY2023-Q1First statedAnnual report
「The “Accounting Standard for Revenue Recognition” and other standards have been applied from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the point 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. Accordingly, for contracts previously accounted for under the acceptance-of-delivery basis that satisfy performance obligations over a specified period, the method has been changed to estimate the progress toward satisfaction of the performance obligations and recognize revenue over the specified period based on that progress. / Net sales and cost of sales for the cumulative first quarter increased by ¥14 million each.」
The revenue recognition standard was changed from the beginning of the fiscal year, and contracts under which performance obligations are satisfied over a specified period were transitioned to revenue recognition based on progress toward completion. Quarterly net sales and cost of sales each increased by ¥14 million.