Preparations for the future adoption of new accounting standards, including revenue recognition and fair value measurement
First written in FY2020. 4 of 8 entries say "Restated". Latest entry: FY2026.
Stella Chemifa moved to the "Worse" side of this theme in 2023, 2 years before the typical company in this theme (2025).
33 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Scheduled adoption date for the Accounting Standard for Leases and related standards The standards are scheduled to be applied from the beginning of the fiscal year ending March 2028.」
The company continues its policy of preparing for the adoption of the new lease accounting standard from the beginning of the fiscal year ending March 2028. - FY2025ReframedAnnual report
「The Accounting Standard for Leases (ASBJ Statement No. 34, 13 September 2024), the Implementation Guidance on Accounting Standard for Leases (ASBJ Guidance No. 33, 13 September 2024), and amendments to related accounting standards, implementation guidance, practical response reports and transfer guidance」
The company disclosed plans to apply the new lease accounting standard, which requires lessees to recognize lease assets and liabilities, from the beginning of the fiscal year ending March 2028, following the adoption of the revenue recognition and fair value measurement standards. - FY2023ReframedAnnual report
「The Accounting Standard for Accounting for Income Taxes, Local Taxes and Enterprise Taxes and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2025.」
Following the adoption of the revenue recognition and fair value measurement standards, the company plans to apply new standards covering income taxes, presentation of comprehensive income and tax-effect accounting from the beginning of the fiscal year ending March 2025. - FY2022-Q3RestatedAnnual report
「As a result, net sales decreased by ¥238 million and cost of sales decreased by ¥238 million during the cumulative third quarter period of the current consolidated fiscal year.」
The company disclosed that the change to net presentation for drop shipments under the Revenue Recognition Standard and related standards, applied from the beginning of the first quarter of the current consolidated fiscal year, reduced both net sales and cost of sales by ¥238 million. - FY2022-Q2RestatedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the Revenue Recognition Standard) 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.」
The company continues to apply the Revenue Recognition Standard, which had been scheduled for adoption from the beginning of the fiscal year ending March 2022. The change to net presentation for drop shipments reduced net sales by ¥132 million during the cumulative second quarter period. - FY2022-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the Revenue Recognition Standard) 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. The company also applied the Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, 4 July 2019; hereinafter, the Fair Value Measurement Standard) and other standards from the beginning of the first quarter of the current consolidated fiscal year, and will apply the new accounting policies prescribed by the Fair Value Measurement Standard and related standards prospectively.」
The company has applied the Revenue Recognition Standard, the Fair Value Measurement Standard and related standards from the beginning of the first quarter of the current consolidated fiscal year, rather than from the beginning of the fiscal year ending March 2022 as originally planned. Revenue from drop shipments changed from gross to net presentation, reducing net sales by ¥75 million. - FY2021RestatedAnnual report
「The Accounting Standard for Revenue Recognition and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company continues to disclose plans to apply new accounting standards, including those covering revenue recognition and fair value measurement, from the beginning of the fiscal year ending March 2022. - FY2020First statedAnnual report
「The Accounting Standard for Revenue Recognition and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company disclosed plans to apply new accounting standards covering revenue recognition, disclosures of estimates and fair value measurement from either the end of the fiscal year ending March 2021 or the beginning of the fiscal year ending March 2022.