Application of the Accounting Standard for Revenue Recognition and Period Allocation of Membership Admission Fees, etc.
First written in FY2022-Q1. 4 of 7 entries say "Restated". Latest entry: FY2024.
Round One moved to the "Worse" side of this theme in 2024.
0 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「However, because the change in the nature of the prizes redeemable with redemption points was assessed as meaning that awarding redemption points provides customers with a material right, the company identifies the redemption points awarded to customers as separate performance obligations and has changed its method of recognizing revenue so that the performance obligations are deemed to be satisfied when customers use the points or over the one-year period following their final use. As a result, the liability related to redemption points that was presented as "provision for redemption points" on the consolidated balance sheet for the previous consolidated fiscal year is now presented as "contract liabilities." In addition, for the current consolidated fiscal year, net sales decreased by ¥230 million and cost of sales decreased by ¥226 million on the consolidated statement of income.」
The company changed its accounting policy to treat redemption points as separate performance obligations and contract liabilities rather than as a provision, and disclosed impacts of ¥230 million on net sales and ¥226 million on cost of sales. - FY2024-Q2RestatedAnnual report
「Contract liabilities 2,488 2,734」
The company continued to recognize revenue by allocating membership admission fees, game points and other items over the period in which the performance obligations are satisfied, and contract liabilities increased from ¥2,488 million at the end of the previous fiscal year to ¥2,734 million. - FY2023RestatedAnnual report
「Contract liabilities (beginning balance) ¥2,084 million Contract liabilities (ending balance) ¥2,488 million」
The company continued to recognize revenue by allocating membership admission fees, game points and other items over the period in which the performance obligations are satisfied, and contract liabilities increased from ¥2,084 million to ¥2,488 million. - FY2023-Q3RestatedAnnual report
「Contract liabilities 2,084 2,411」
Following the application of the revenue recognition accounting standards, contract liabilities increased from ¥2,084 million at the end of the previous consolidated fiscal year to ¥2,411 million at the end of the third quarter of the current fiscal year. - FY2023-Q2RestatedAnnual report
「Contract liabilities 2,084 2,567」
Following the application of the revenue recognition accounting standards, contract liabilities increased from ¥2,084 million at the end of the previous consolidated fiscal year to ¥2,567 million at the end of the second quarter of the current fiscal year. - FY2022AdvancedAnnual report
「Of the revenue from points generated when playing the online crane game "Kureccha" and the revenue from game credits generated when playing amusement games, the amounts allocated to remaining performance obligations are recorded as contract liabilities on the consolidated balance sheet. These amounts are expected to be recognized as revenue in the following consolidated fiscal year.」
Following the application of the revenue recognition accounting standards, the company recorded ¥2,084 million in contract liabilities for point revenue from Kureccha and other items, and indicated that the amounts would be recognized as revenue in the following fiscal year. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant 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. Accordingly, for membership admission fees and other fees for Round One Club members, the Round One Group previously recognized revenue when consideration was received, but now recognizes revenue over the period during which the performance obligations are satisfied, based on the amounts allocated to the performance obligations satisfied as time passes.」
The company applied the revenue recognition accounting standards and other relevant standards from 1 April 2021 and changed its method of recognizing revenue from Round One Club membership admission fees and other fees over a specified period. The impact on the financial statements was immaterial.