Preparation for Applying the Accounting Standard for Revenue Recognition
First written in FY2020. 2 of 5 entries say "Restated". Latest entry: FY2023.
- FY2023RestatedAnnual report
「With respect to the accounting standard on revenue recognition applied from the beginning of the fiscal year ending May 2022, we have disseminated information about and provided training on the standard to the relevant internal departments and established a framework for appropriate implementation.」
Following application of the accounting standard on revenue recognition, the company continues to disseminate information internally, provide training and maintain an appropriate implementation framework. - FY2022-Q3RestatedAnnual report
「From the beginning of the first quarter accounting period, we adopted the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and related standards. 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 transfers to the customer.」
The company continues to apply the accounting policy adopted after applying the accounting standard on revenue recognition from the beginning of the first quarter accounting period. - FY2022-Q1AchievedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter the “Revenue Recognition Standard”) and related standards from the beginning of the current first-quarter accounting period. 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 accounting standard on revenue recognition, for which preparations had been under way for application from the beginning of the fiscal year ending May 2022, was actually applied from the beginning of the first quarter accounting period. As a result, revenue for the cumulative first-quarter period increased by ¥139.736 million, operating income and other items increased by ¥26.472 million, and the beginning balance of retained earnings increased by ¥88.209 million. - FY2021AdvancedAnnual report
「With respect to the application of the accounting standard on revenue recognition and related matters, we will apply a new accounting policy from the beginning of the fiscal year ending May 2022 in accordance with the transitional treatment prescribed in the proviso to Paragraph 84 of the revenue recognition accounting standard. As a result, beginning retained earnings for that fiscal year are expected to increase by ¥88.209 million.」
In addition to disseminating information and providing training in preparation for applying the standard from the beginning of the fiscal year ending May 2022, the company has specified the transitional treatment and the expected ¥88.209 million impact on retained earnings. - FY2020First statedAnnual report
「The accounting standard on revenue recognition is scheduled to be applied from the beginning of the fiscal year ending May 2022. We have also disseminated information about and provided training on the accounting standard on revenue recognition, which applies from the beginning of the fiscal year ending May 2022, to the relevant internal departments and have established a framework for appropriate implementation.」
In preparation for applying the standard from the beginning of the fiscal year ending May 2022, the company is disseminating information to and providing training for the relevant internal departments and establishing an implementation framework.