Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. . Latest entry: FY2022.
2 other companies' latest entry also says "Other".
- FY2022Finalization of the impact from full-year adoptionAnnual report
「As a result, for the current consolidated fiscal year, revenue decreased by ¥112.759 million and cost of revenue decreased by ¥109.877 million, while operating profit, ordinary profit and profit before income taxes decreased by ¥2.882 million each. The opening balance of retained earnings in the consolidated statement of changes in shareholders’ equity also decreased by ¥114.372 million.」
The company disclosed the impact on revenue, profit and opening retained earnings from applying the revenue recognition accounting standard for the full fiscal year. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the first quarter of the current 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 transfers to the customer.」
The company began applying the revenue recognition accounting standard on 1 April 2021 and changed the method of recognizing enrollment fee revenue to recognition over the service period. It also changed the accounting for transactions as an agent involving external practice examinations to net recognition. As a result of the application, revenue for the first quarter decreased by ¥25.609 million and the opening balance of retained earnings decreased by ¥114.372 million.