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Nippon Shikizai (4920) · PolicyFirst stated

Changes in Revenue Recognition following Adoption of the Revenue Recognition Standard

First written in FY2023-Q1. . Latest entry: FY2023-Q1.

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Changes in revenue recognition methods and financial statement balances resulting from the application of the Accounting Standard for Revenue RecognitionA theme 33 companies write about · 7 as a headwind · 1 as a tailwind

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  1. FY2023-Q1First statedAnnual report

    「The Company adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the fiscal year under review, recognizing revenue 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. For export sales, revenue was previously recognized under the shipping-date method, but the Company changed to recognizing revenue when the risks and rewards transfer to the customer under the applicable trade terms, including Incoterms.」

    The revenue recognition standard was adopted from the beginning of the quarter, changing export-sales recognition from the shipping-date method to recognition upon transfer of risks under the applicable trade terms.
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Changes in Revenue Recognition following Adoption of the Revenue Recognition Standard | Nippon Shikizai,Inc. (4920) | Komori