Adoption of the Revenue Recognition Accounting Standard and Revenue Recognition Based on Percentage of Completion
First written in FY2023-Q1. 2 of 4 entries say "Advanced", first in FY2023-Q2. Latest entry: FY2023.
10 other companies' latest entry also says "Advanced".
- FY2023AdvancedAnnual report
「The application of the Revenue Recognition Standard and other applicable standards reduced sales for the fiscal year by ¥5 million and increased operating loss, ordinary loss and net loss by ¥1 million each.」
The company continued to apply the Revenue Recognition Standard and disclosed full-year impacts of a ¥5 million decrease in sales and a ¥1 million increase in each loss. - FY2023-Q3RestatedAnnual report
「As a result, sales for the nine months ended 30 November increased by ¥14.850 million and cost of sales increased by ¥8.127 million, while operating loss, ordinary loss and pretax quarterly net loss each decreased by ¥6.722 million. The opening balance of retained earnings also increased by ¥751 thousand.」
The company continued to apply the Revenue Recognition Standard and recognize revenue based on progress for certain quasi-mandate contracts, updating the impacts on sales, losses and retained earnings for the nine months ended 30 November. - FY2023-Q2AdvancedAnnual report
「As a result, sales for the six months ended 31 August increased by ¥8.560 million and cost of sales increased by ¥904 thousand, while operating loss, ordinary loss and pretax quarterly net loss each decreased by ¥7.655 million. The opening balance of retained earnings also increased by ¥751 thousand.」
The company continued to recognize revenue based on progress following application of the Revenue Recognition Standard and disclosed specific impacts on sales, losses and retained earnings for the six months ended 31 August. - FY2023-Q1First statedAnnual report
「From the beginning of the first quarter accounting period, we applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other applicable standards. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services is transferred to the customer. As a result, for certain transactions under quasi-mandate contracts, we changed the method of recognizing revenue from recognition as performance obligations satisfied at a point in time to recognition as performance obligations satisfied over a period of time, with revenue recognized according to the progress of performance.」
From the beginning of the first quarter accounting period, the company applied the Revenue Recognition Standard and other applicable standards and changed the recognition method for certain quasi-mandate contracts from point-in-time recognition to recognition over a period of time according to the progress of performance. As a result of the application, sales for the first quarter cumulative period increased by ¥8.411 million, while operating loss and ordinary loss each decreased by ¥7.223 million.