Changing Export Revenue Recognition From Shipping-Basis to Arrival-Basis Under the Revenue Recognition Standard
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
4 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「The company applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020) and related standards from the beginning of the current fiscal year. As a result, the current-period figures include decreases of ¥84 million in net sales, ¥55 million in cost of sales, and ¥28 million in operating profit, ordinary profit and profit before income taxes, respectively.」
The impact of applying the revenue recognition standard was reflected in the full-year financial figures, with disclosed decreases of ¥84 million in current-period net sales, ¥55 million in cost of sales and ¥28 million in operating profit and other measures. - FY2022-Q3AdvancedAnnual report
「Accordingly, for some export transactions for which revenue had been recognized on a shipping basis, the company changed the recognition method to an arrival basis. As a result, for the cumulative third quarter, net sales decreased by ¥83 million, cost of sales by ¥55 million, and operating profit, ordinary profit and profit before income taxes by ¥27 million, respectively.」
Regarding the change to an arrival basis for some export transactions following the adoption of the revenue recognition standard, the company disclosed decreases of ¥83 million in net sales, ¥55 million in cost of sales and ¥27 million in operating profit and other measures for the cumulative third quarter. - FY2022-Q2AdvancedAnnual report
「As a result, for the cumulative second quarter, net sales decreased by ¥70 million, cost of sales by ¥49 million, and operating profit, ordinary profit and profit before income taxes by ¥20 million, respectively.」
Following the adoption of the revenue recognition standard, the basis for recognizing revenue for some export transactions was changed from the shipping basis to the arrival basis. For the cumulative second quarter, the company disclosed decreases of ¥70 million in net sales, ¥49 million in cost of sales and ¥20 million in operating profit and other measures. - FY2022-Q1First statedAnnual report
「From the beginning of the first quarter of the current fiscal year, the company applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020) and related standards, and 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. Accordingly, for some export transactions for which revenue had been recognized on a shipping basis, the company changed the recognition method to an arrival basis. As a result, for the cumulative first quarter, net sales increased by ¥51 million, cost of sales by ¥42 million, and operating profit, ordinary profit and profit before income taxes by ¥8 million, respectively.」
The revenue recognition standard was applied from the beginning of 1 April 2021, and the basis for recognizing revenue for some export transactions was changed from the shipping basis to the arrival basis. The company disclosed increases of ¥51 million in net sales, ¥42 million in cost of sales and ¥8 million in operating profit and other measures for the cumulative first quarter.