Preparing to adopt new accounting standards for revenue recognition and fair value measurement
First written in FY2021. 1 of 5 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022Full-year impact disclosedAnnual report
「As a result, for the current consolidated fiscal year, net sales decreased by ¥699.267 million, cost of sales decreased by ¥700.802 million, and operating income, ordinary income and profit before income taxes decreased by ¥1.535 million each. The opening balance of retained earnings also decreased by ¥4.312 million.」
The Company has disclosed the impact of applying the Revenue Recognition Standard on full-year net sales, cost of sales, profit and opening retained earnings. - FY2022-Q3Updated the cumulative impactAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, net sales decreased by ¥560.814 million, cost of sales decreased by ¥548.675 million, and operating income, ordinary income and profit before income taxes decreased by ¥12.139 million each. The opening balance of retained earnings also decreased by ¥4.312 million.」
The Company continues to apply the Revenue Recognition Standard and has disclosed the impact on net sales and profit for the cumulative third quarter. - FY2022-Q2RestatedAnnual report
「As a result, for the cumulative second quarter of the current consolidated fiscal year, net sales decreased by ¥392.464 million, cost of sales decreased by ¥387.251 million, and operating income, ordinary income and profit before income taxes decreased by ¥5.212 million each.」
The Company continues to apply the Revenue Recognition Standard and has disclosed the impact on the cumulative current quarter of recognizing advertising and reseller services on a net basis and allocating initial setup and other costs for the video distribution platform over the service period. It states that application of the Fair Value Measurement Standard has no impact on the financial statements. - FY2022-Q1AchievedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, issued on 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and related standards from the beginning of the first quarter of the current fiscal year, and now recognizes revenue 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 and related standards, which had been scheduled for application in the previous fiscal year, were actually applied from 1 April 2021. Reseller services for advertising and standalone sales are recognized on a net basis, while initial setup and other services for the video distribution platform are recognized over the service period. - FY2021First statedAnnual report
「The standards on revenue recognition and related guidance will be applied from the beginning of the fiscal year ending March 2022.」
The company has disclosed for the first time, in a consolidated format, the planned application from the beginning of the fiscal year ending March 2022 and the expected impact of the accounting standards for revenue recognition and related standards, as well as the accounting standards for fair value measurement and related standards.