Change in Revenue Recognition Methods Following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. . Latest entry: FY2022-Q3.
2 other companies' latest entry also says "Other".
- FY2022-Q3Cumulative quantification of the impact of adoptionAnnual report
「As a result, revenue for the current third-quarter cumulative consolidated period increased by ¥33.404 million, while operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥33.404 million. The opening balance of retained earnings also decreased by ¥43.765 million.」
The company updated the impact of applying the revenue recognition accounting standard for the third-quarter cumulative period. By segment, revenue and profit increased by ¥1.199 million in the cram school business and ¥32.204 million in the language-related business. - FY2022-Q2Quantification of the impact of adoptionAnnual report
「As a result, revenue for the current second-quarter cumulative consolidated period increased by ¥20.750 million, while operating profit, ordinary profit and profit before income taxes for the quarter each increased by ¥20.750 million. The opening balance of retained earnings also decreased by ¥43.765 million.」
The company quantified the impact of applying the revenue recognition accounting standard for the second-quarter cumulative period. By segment, revenue and profit in the cram school business decreased by ¥719 thousand, while those in the language-related business increased by ¥21.469 million. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the current first-quarter consolidated accounting period. Revenue is now 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. Previously, enrollment fees and franchise fees in the cram school and language-related businesses were recognized at a point in time. The company has changed to a method of recognizing revenue over a period of time based on an estimate of progress toward satisfying the performance obligations.」
The company applied the revenue recognition accounting standard and related standards from the beginning of the current first-quarter consolidated accounting period, changing the recognition of enrollment fees and franchise fees in the cram school and language-related businesses from point-in-time recognition to recognition over a period of time. As a result of the adoption, first-quarter revenue, operating profit and other items increased by ¥13.330 million, while the opening balance of retained earnings decreased by ¥43.765 million.