Adoption of the Accounting Standard for Revenue Recognition and Change to Net Presentation
First written in FY2022-Q1. 1 of 4 entries say "Reframed", first in FY2022-Q2. Latest entry: FY2022.
5 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, compared with before application of the Accounting Standard for Revenue Recognition and related standards, raw materials on the consolidated balance sheet increased by ¥1,003 million, while net sales and cost of sales on the consolidated income statement decreased by ¥527 million and ¥524 million, respectively, for the current consolidated fiscal year.」
The company disclosed the full-year impact of the net presentation of agent transactions and other effects from applying the Accounting Standard for Revenue Recognition: raw materials increased by ¥1,003 million, while net sales and cost of sales decreased by ¥527 million and ¥524 million, respectively. - FY2022-Q3RestatedAnnual report
「As a result, during the cumulative third quarter of the current consolidated fiscal year, net sales decreased by ¥205 million and cost of sales decreased by ¥201 million.」
The company is reaffirming that application of the Accounting Standard for Revenue Recognition and related standards reduced net sales by ¥205 million and cost of sales by ¥201 million during the cumulative third quarter of the current consolidated fiscal year. - FY2022-Q2ReframedAnnual report
「For transactions involving the provision of materials for consideration, the company previously recognised the derecognition of materials provided for consideration. It has changed its method so that, when it has an obligation to repurchase the materials provided, it does not recognise their derecognition. As a result, during the cumulative second quarter of the current consolidated fiscal year, net sales decreased by ¥168 million and cost of sales decreased by ¥164 million.」
Following the application of the Accounting Standard for Revenue Recognition, the accounting treatment for transactions involving the provision of materials for consideration was also changed. During the cumulative second quarter of the current consolidated fiscal year, net sales decreased by ¥168 million and cost of sales decreased by ¥164 million. - FY2022-Q1First statedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition 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, for certain transactions, consideration received from customers was previously recognised as revenue on a gross basis. For transactions in which the group's role in providing goods or services to customers is that of an agent, revenue is now recognised on a net basis, after deducting the amount paid to suppliers from the amount received from customers.」
The company has applied the Accounting Standard for Revenue Recognition and related standards since 1 April 2021, changing revenue presentation for transactions in which it acts as an agent from gross to net. In the first quarter of the current fiscal year, net sales decreased by ¥120 million and cost of sales decreased by ¥119 million.