Adoption of the Accounting Standard for Revenue Recognition and Recognition of Water Treatment Equipment Sales over Time
First written in FY2022-Q1. 1 of 3 entries say "Advanced", first in FY2022-Q3. Latest entry: FY2022.
1 other company's latest entry also says "Achieved".
- FY2022AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards have been applied from the beginning of the current fiscal year, so the key management indicators and other metrics for the current fiscal year reflect application of those standards.」
Application of the Revenue Recognition Accounting Standard from the beginning of the period was reflected in the full-year key indicators, resulting in full-year application following the implementation phase. - FY2022-Q3AdvancedAnnual report
「The application of the Revenue Recognition Accounting Standard and related standards follows the transitional treatment prescribed in the proviso to paragraph 84 of the standard, and had no impact on retained earnings at the beginning of the current period. Compared with the previous method, third-quarter sales and cost of sales each increased by ¥25.2 million.」
As an impact of applying the Revenue Recognition Accounting Standard during the third quarter accounting period, sales and cost of sales each increased by ¥25.2 million, and a contract asset of ¥25.2 million was recognized. - FY2022-Q1First statedAnnual report
「From the beginning of the first quarter accounting period, we applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the Revenue Recognition Accounting Standard) and related standards. Accordingly, 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. As a result, sales of water treatment equipment, which were previously recognized at a point in time, are now recognized over a specified period.」
The Revenue Recognition Accounting Standard was applied from the beginning of the first quarter accounting period, changing the recognition of water treatment equipment sales from point-in-time recognition to recognition over a specified period. There was no impact on profit or loss or retained earnings at the beginning of the period.