Adoption of the Revenue Recognition Accounting Standard and Revenue Recognition Based on Progress Toward Satisfying Performance Obligations
First written in FY2022-Q1. 1 of 2 entries say "Advanced", first in FY2022. Latest entry: FY2022.
11 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, beginning with the current consolidated fiscal year, among the revenue recognition policies in the Equipment Systems segment, performance obligations satisfied over a period of time are recognized as revenue over that period, except for construction projects with very short durations, based on an estimate of the progress toward satisfying the performance obligations.」
Following adoption of the revenue recognition accounting standard, the company recognized revenue based on the progress of construction projects performed over a period of time in the Equipment Systems segment in its annual results. - FY2022-Q1First statedAnnual report
「From the beginning of the first quarter of the current consolidated fiscal year, we applied the Accounting Standard for Revenue Recognition and related standards and recognize 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.」
The company applied the revenue recognition accounting standard and related standards from 1 April 2021 and introduced over-time revenue recognition based on the progress of construction in the Equipment Systems segment. The impact on profit or loss and retained earnings at the beginning of the fiscal year was considered immaterial.