Application of New Accounting Standards for Revenue Recognition and Fair Value Measurement in the Fiscal Year Ending March 2022
First written in FY2021. 3 of 6 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2023.
131 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and related standards have been applied from the beginning of the 73rd fiscal year. Accordingly, the key management indicators and other metrics for the 73rd fiscal year and thereafter are based on application of those accounting standards.」
The company has reconfirmed that it applied the revenue recognition standard from the beginning of the 73rd fiscal year and the impact on comparative figures. - FY2022AdvancedAnnual report
「As a result, compared with before the application of the revenue recognition standard and related standards, the consolidated balance sheet for the current fiscal year showed increases of ¥703 million in assets for returns and ¥2,168 million in refund liabilities, and decreases of ¥379 million in the provision for sales returns and ¥654 million in the provision for return adjustments. On the consolidated income statement for the current fiscal year, net sales decreased by ¥155 million, cost of sales by ¥37 million, operating income by ¥118 million, and ordinary income and profit before income taxes by ¥24 million each.」
The impact on the balance sheet and income statement from applying the revenue recognition standard for the full fiscal year has been definitively disclosed. - FY2022-Q3AdvancedAnnual report
「As a result, for the nine months ended the third quarter of the current fiscal year, net sales increased by ¥152 million, cost of sales increased by ¥41 million, operating income decreased by ¥32 million, and ordinary income and profit before income taxes increased by ¥35 million each. The opening balance of retained earnings also decreased by ¥271 million.」
Additional disclosure was made on the impact of applying the revenue recognition standard on net sales, cost of sales, operating income, ordinary income and other items for the nine months ended the third quarter. - FY2022-Q2AdvancedAnnual report
「As a result, for the six months ended the second quarter of the current fiscal year, net sales decreased by ¥838 million, cost of sales decreased by ¥408 million, operating income decreased by ¥244 million, and ordinary income and profit before income taxes decreased by ¥177 million each. The opening balance of retained earnings also decreased by ¥271 million.」
The company has specifically disclosed the impact of applying the revenue recognition standard on net sales, cost of sales, operating income, ordinary income and other items for the six months ended the second quarter, as well as on the opening balance of retained earnings. - FY2022-Q1AchievedAnnual 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 first quarter of the current fiscal year, and 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. The Accounting Standard for Fair Value Measurement and related standards have also been applied from the beginning of the first quarter of the current fiscal year, and the new accounting policies prescribed by the fair value measurement standards and related standards have been applied prospectively.」
The revenue recognition and fair value measurement standards scheduled for application from the beginning of the fiscal year ending March 2022 were applied from the beginning of the first quarter. Application of the revenue recognition standard reduced net sales by ¥551 million and operating income, ordinary income and other items by ¥258 million each, and resulted in the recognition of assets for returns and refund liabilities. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards will be applied from the beginning of the fiscal year ending March 2022. The Accounting Standard for Fair Value Measurement and related standards will also be applied from the beginning of the fiscal year ending March 2022.」
The company has newly disclosed plans to apply the new accounting standards for revenue recognition and fair value measurement of financial instruments from the beginning of the fiscal year ending March 2022.