Deduction of Sales Promotion Consideration from Revenue Following Adoption of the Accounting Standard for Revenue Recognition
First written in FY2022-Q1. . Latest entry: FY2022.
2 other companies' latest entry also says "Other".
- FY2022Update to the impact amountAnnual report
「As a result, net sales for the fiscal year decreased by ¥1,097 million, cost of sales decreased by ¥5 million, and selling, general and administrative expenses decreased by ¥1,092 million, but operating income, ordinary income and profit before income taxes were unaffected. In addition, the beginning balance of retained earnings decreased by ¥48 million.」
The company disclosed the full-year impact of applying the Revenue Recognition Accounting Standard as a decrease of ¥1,097 million in net sales, a decrease of ¥1,092 million in selling, general and administrative expenses, and a decrease of ¥48 million in the beginning balance of retained earnings. - FY2022-Q3Update to the impact amountAnnual report
「As a result, net sales for the nine months ended the third quarter decreased by ¥819 million, and selling, general and administrative expenses decreased by ¥819 million, but operating income, ordinary income and profit before income taxes were unaffected. In addition, the beginning balance of retained earnings decreased by ¥49 million.」
The cumulative-period impact of applying the Revenue Recognition Accounting Standard was updated to a decrease of ¥819 million in net sales and selling, general and administrative expenses, and a decrease of ¥49 million in the beginning balance of retained earnings. - FY2022-Q2Update to the impact amountAnnual report
「As a result, net sales for the six months ended the second quarter decreased by ¥629 million, and selling, general and administrative expenses decreased by ¥629 million, but operating income, ordinary income and profit before income taxes were unaffected. In addition, the beginning balance of retained earnings decreased by ¥49 million.」
The company specifically disclosed the impact of applying the Revenue Recognition Accounting Standard on net sales and selling, general and administrative expenses for the cumulative period as a decrease of ¥629 million, and the impact on the beginning balance of retained earnings as a decrease of ¥49 million. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards have been applied from the beginning of the first quarter of the current fiscal year. Consideration paid to customers to promote sales of our products was previously accounted for as selling, general and administrative expenses, but has been changed to a reduction from the transaction price.」
The Revenue Recognition Accounting Standard and other standards were applied from 1 October 2021, and the presentation of consideration paid to customers for sales promotion was changed from selling, general and administrative expenses to a reduction from the transaction price. Net sales decreased by ¥264 million, but operating income and other profit measures were unaffected, as disclosed.