Adoption of the Revenue Recognition Accounting Standard and Presentation of Contract Assets and Contract Liabilities
First written in FY2022-Q1. 7 of 10 entries say "Restated". Latest entry: FY2024-Q3.
13 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「For these products, the customer’s performance obligation may be satisfied either by submitting one-off data, such as measurement certification documents, or by delivering a report evaluating and analyzing such data or a completion report for services such as consulting. In both cases, the performance obligation is satisfied when the final deliverable is delivered, so revenue is recognized upon delivery, when control of the services and other items is transferred to the customer. For construction contracts entered into by the company, the performance obligation is judged to be satisfied over a specified period, and revenue is recognized based on the progress toward satisfaction of the performance obligation. If progress toward satisfaction of the performance obligation cannot be reasonably estimated and recovery of costs incurred is expected, revenue is recognized under the cost recovery method. For contracts with a very short period from the transaction date to the expected date of complete satisfaction of the performance obligation, an alternative treatment is applied, under which revenue is not recognized over a specified period but is recognized when the performance obligation has been completely satisfied.」
The company is reaffirming its policy of recognizing revenue from data submissions, reports and consulting services upon delivery, revenue from construction contracts based on progress toward completion, and revenue under the cost recovery method when progress cannot be reasonably estimated. - FY2024-Q2ReframedAnnual report
「For construction contracts entered into by the company, the performance obligation is judged to be satisfied over a specified period, and revenue is recognized based on the progress toward satisfaction of the performance obligation. If progress toward satisfaction of the performance obligation cannot be reasonably estimated and recovery of costs incurred is expected, revenue is recognized under the cost recovery method. For contracts with a very short period from the transaction date to the expected date of complete satisfaction of the performance obligation, an alternative treatment is applied, under which revenue is not recognized over a specified period but is recognized when the performance obligation has been completely satisfied.」
In addition to recognizing revenue upon delivery and recognizing revenue from construction contracts based on progress toward completion, the company has explicitly disclosed the cost recovery method when progress cannot be reasonably estimated and the alternative treatment for contracts with very short performance periods. - FY2024-Q1RestatedAnnual report
「In both cases, the performance obligation is satisfied when the final deliverable is delivered, so revenue is recognized upon delivery, when control of the services and other items is transferred to the customer. For construction contracts entered into by the company, the performance obligation is judged to be satisfied over a specified period, and revenue is recognized based on the progress toward satisfaction of the performance obligation.」
The company is reaffirming its policy of recognizing revenue from data submissions, reports and consulting services upon delivery, and revenue from construction contracts based on progress toward completion. - FY2023RestatedAnnual report
「For construction contracts entered into by the company, the performance obligation is judged to be satisfied over a specified period, and revenue is recognized based on the progress toward satisfaction of the performance obligation.」
In addition to recognizing revenue upon delivery as before, the company is reaffirming its policy of recognizing revenue from construction contracts over a specified period based on progress toward completion. - FY2023-Q3ReframedAnnual report
「For these products, the customer’s performance obligation may be satisfied either by submitting one-off data, such as measurement certification documents, or by delivering a report evaluating and analyzing such data or a completion report for services such as consulting. In both cases, the performance obligation is satisfied when the final deliverable is delivered, so revenue is recognized upon delivery, when control of the services and other items is transferred to the customer. For construction contracts entered into by the company, the performance obligation is judged to be satisfied over a specified period, and revenue is recognized based on the progress toward satisfaction of the performance obligation.」
In addition to recognizing revenue upon delivery as before, the company has explicitly clarified that revenue from construction contracts is recognized over a specified period based on progress toward completion. - FY2023-Q2RestatedAnnual report
「In both cases, the performance obligation is satisfied when the final deliverable is delivered. Accordingly, revenue is recognized upon delivery, when control of the services and other items is transferred to the customer.」
The company is reaffirming its policy of recognizing revenue when the final deliverable is delivered. - FY2023-Q1RestatedAnnual report
「In both cases, the performance obligation is satisfied when the final deliverable is delivered. Accordingly, revenue is recognized upon delivery, when control of the services and other items is transferred to the customer.」
Under the Revenue Recognition Standard, the company is reaffirming its policy of recognizing revenue when the final deliverable is delivered. - FY2022RestatedAnnual report
「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards from the beginning 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 is reaffirming its application of the Revenue Recognition Standard, recognition of revenue upon delivery, and presentation including contract assets and contract liabilities. - FY2022-Q2RestatedAnnual report
「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the 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 is reaffirming its application of the Revenue Recognition Standard and its presentation of accounts receivable and other items as including contract assets, and advances received as including contract liabilities. - FY2022-Q1First statedAnnual report
「The company has applied the “Accounting Standard for Revenue Recognition” (Accounting Standard 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 applied the Revenue Recognition Standard and other standards from the beginning of the first quarter of the current consolidated fiscal year. There was no impact on the beginning balance of retained earnings or quarterly profit or loss, and accounts receivable and other items on the balance sheet have been presented to include contract assets, while advances received have been presented to include contract liabilities.