Application of the Revenue Recognition Standard in 2022
First written in FY2019. 2 of 5 entries say "Restated". Latest entry: FY2022.
85 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The company applied the Revenue Recognition Standard and related standards from the beginning of the current consolidated fiscal year. Revenue is recognised 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. As a result, revenue increased by ¥42.829 million, cost of sales increased by ¥39.885 million, and operating income, ordinary income and net income before income taxes and other adjustments each increased by ¥2.944 million during the current consolidated fiscal year.」
The company applied the Revenue Recognition Standard from the beginning of the fiscal year ending June 2022 and disclosed the full-year impact. - FY2022-Q3RestatedAnnual report
「Because the revenue recognition standard and related guidance were adopted, notes and accounts receivable, previously presented under current assets on the consolidated balance sheet for the previous consolidated fiscal year, have been included in notes, accounts receivable and contract assets from the first quarter.」
The company continues to disclose the change in presentation resulting from application of the Revenue Recognition Standard from the beginning of the first quarter of the current consolidated fiscal year. - FY2022-Q2Disclosure of the impact of application through the second quarterAnnual report
「As a result, revenue increased by ¥54.628 million, cost of sales increased by ¥42.756 million, and operating income, ordinary income and quarterly net income before income taxes and other adjustments each increased by ¥11.871 million during the cumulative second quarter of the current consolidated fiscal year.」
Following application of the Revenue Recognition Standard, the company disclosed its impact on revenue, cost of sales and profit for the cumulative second quarter of the current consolidated fiscal year. - FY2022-Q1AchievedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognised 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. As a result, revenue increased by ¥67.452 million, cost of sales increased by ¥51.710 million, and operating income, ordinary income and quarterly net income before income taxes and other adjustments each increased by ¥15.742 million during the cumulative first quarter of the current consolidated fiscal year.」
The company has applied the Revenue Recognition Standard, which had been scheduled for application from the beginning of the fiscal year ending June 2022, and disclosed its impact on revenue, cost of sales and profit. - FY2019First statedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending June 2022.」
The company stated that it planned to apply the Accounting Standard for Revenue Recognition and related implementation guidance from the beginning of the fiscal year ending June 2022. The impact was still being assessed.