Future application of new accounting standards for revenue recognition and fair value measurement
First written in FY2021. 2 of 3 entries say "Achieved", first in FY2023-Q1. Latest entry: FY2024-Q1.
12 other companies' latest entry also says "Achieved".
- FY2024-Q1AchievedAnnual report
「The company adopted the “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No. 31, 17 June 2021; hereinafter, the “Fair Value Measurement Guidance”) from the beginning of the first quarter of the current consolidated fiscal year and, in accordance with the transitional treatment stipulated in paragraph 27-2 of the Fair Value Measurement Guidance, applied the new accounting policies prescribed by the guidance prospectively. There was no impact on the quarterly consolidated financial statements.」
The company adopted the Fair Value Measurement Guidance, which had been disclosed as an unadopted accounting standard, from the beginning of the first quarter of the current consolidated fiscal year. It stated that there was no impact on the financial statements. - FY2023-Q1AchievedAnnual report
「The company adopted the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter 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 is transferred to the customer. As a result, revenue from consulting engagements, which had previously been recognized in a lump sum upon completion of the service when the certainty of the outcome was established, is now recognized over the elapsed period from the first quarter of the current consolidated fiscal year because the related performance obligations are satisfied over a specified period.」
The company adopted the accounting standard for revenue recognition, scheduled for adoption from the beginning of the fiscal year ending February 2023, from the beginning of the first quarter of the current consolidated fiscal year, changing revenue recognition for consulting engagements from recognition in a lump sum upon completion to recognition based on the elapsed period. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and the Implementation Guidance on Accounting Standard for Revenue Recognition are scheduled to be applied from the beginning of the fiscal year ending February 2023.」
For unadopted accounting standards relating to revenue recognition, fair value measurement, inventories and financial instruments, the company has disclosed for the first time that adoption is scheduled from the fiscal year ending February 2022 or the fiscal year ending February 2023 and that the impact is being assessed.