Changes in revenue recognition methods following adoption of the revenue recognition accounting standard
First written in FY2022-Q1. . Latest entry: FY2022-Q3.
10 other companies' latest entry also says "Other".
- FY2022-Q3Update on the Impact of AdoptionAnnual report
「As a result, net sales for the cumulative third quarter of the current consolidated fiscal year decreased by ¥236,063 thousand, cost of sales decreased by ¥221,771 thousand, operating profit decreased by ¥13,425 thousand, and ordinary profit and profit before income taxes increased by ¥2,447 thousand each. In addition, the beginning balance of retained earnings decreased by ¥2,798 thousand.」
The company updated the impact of applying the Accounting Standard for Revenue Recognition for the cumulative third quarter, disclosing decreases of ¥236,063 thousand in net sales, ¥13,425 thousand in operating profit and ¥2,798 thousand in the beginning balance of retained earnings, among other items. - FY2022-Q2Update on the Impact of AdoptionAnnual report
「As a result, net sales for the cumulative second quarter of the current consolidated fiscal year decreased by ¥272,809 thousand, cost of sales decreased by ¥261,444 thousand, operating profit decreased by ¥10,974 thousand, and ordinary profit and profit before income taxes decreased by ¥1,862 thousand each. In addition, the beginning balance of retained earnings decreased by ¥2,798 thousand.」
The company disclosed specific decreases in net sales, operating profit, ordinary profit and other items as the impact of applying the Accounting Standard for Revenue Recognition for the cumulative second quarter. - FY2022-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 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.」
The company applied the Accounting Standard for Revenue Recognition and other standards for the first time, changing the methods for recognizing revenue from construction contracts, transactions involving the receipt of goods on a chargeable basis and transactions in which the company acts as an agent. As a result of the application, net sales decreased by ¥12,932 thousand and operating profit decreased by ¥14,519 thousand.