Preparation for Applying the Revenue Recognition Standard
First written in FY2018. 3 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2022-Q3.
11 other companies' latest entry also says "Advanced".
- FY2022-Q3AdvancedAnnual report
「As a result, for certain beauty treatment services provided through outsourcing, the company changed from recognising revenue at the gross amount of consideration received from customers to recognising revenue on a net basis, after deducting fees paid to the outsourcing provider for portions deemed to involve agency transactions. In addition, the company changed from recording the amount borne by the company in connection with awarding third-party points to customers in cost of sales to deducting it from revenue. As a result, net sales for the nine months ended the third quarter decreased by ¥34,082 thousand, and cost of sales decreased by the same amount.」
The company continued to present outsourced services on a net basis and deduct the cost of third-party points from revenue following application of the Revenue Recognition Accounting Standard, disclosing an impact of ¥34,082 thousand on both net sales and cost of sales for the nine months ended the third quarter. - FY2022-Q2AdvancedAnnual report
「As a result, net sales for the six months ended the second quarter decreased by ¥22,345 thousand, and cost of sales decreased by the same amount.」
The company disclosed that, in the six months ended the second quarter, application of the Revenue Recognition Accounting Standard from the beginning of the first quarter reduced both net sales and cost of sales by ¥22,345 thousand. - FY2022-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the first quarter of the current fiscal year, and began recognising revenue when control of the promised goods or services was transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, for certain beauty treatment services provided through outsourcing, the company changed from recognising revenue at the gross amount of consideration received from customers to recognising revenue on a net basis, after deducting fees paid to the outsourcing provider for portions deemed to involve agency transactions. In addition, the company changed from recording the amount borne by the company in connection with awarding third-party points to customers in cost of sales to deducting it from revenue.」
The company applied the Accounting Standard for Revenue Recognition from the beginning of the first quarter of the current fiscal year, presenting outsourced services on a net basis and deducting the cost of third-party points from revenue. As a result of the application, both net sales and cost of sales decreased by ¥11,088 thousand. - FY2021AdvancedAnnual report
「Applied from the beginning of the fiscal year ending March 2022. The impact on the financial statements of applying the Accounting Standard for Revenue Recognition and related standards was immaterial.」
The planned application from the beginning of the fiscal year ending March 2022 remains unchanged, and the impact on the financial statements is assessed as immaterial. - FY2020RestatedAnnual report
「The standard will be applied from the beginning of the fiscal year ending March 2022.」
The Accounting Standard for Revenue Recognition is scheduled to be applied from the beginning of the fiscal year ending March 2022, and the impact continues to be assessed. - FY2018First statedAnnual report
「The standard will be applied from the beginning of the fiscal year ending March 2022.」
The Company planned to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022, and stated that the impact on the financial statements was still being evaluated.