Adoption of the Accounting Standard for Revenue Recognition and Change to a Progress-Based Method for Contracted Development Agreements
First written in FY2022-Q3. 1 of 2 entries say "Achieved", first in FY2022. Latest entry: FY2022.
0 other companies' latest entry also says "Achieved".
- FY2022AchievedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were adopted from the beginning of the current consolidated fiscal year. For contract development agreements, we changed the method of recognizing revenue over a specified period based on the degree of progress toward satisfying performance obligations.」
The revenue recognition standard was adopted and the method for contract development agreements was changed to a percentage-of-completion basis from the beginning of the current fiscal year. - FY2022-Q3First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is now 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 revenue recognition standard was adopted from the beginning of the current fiscal year, and the method for recognizing revenue from contract development agreements for which performance obligations are satisfied over time was changed to recognition based on the degree of completion. As a result of the adoption, revenue for the cumulative third quarter of the current fiscal year increased by ¥27.619 million, while operating loss and other losses decreased by ¥30.326 million.