Risks in Estimating Revenue and Costs under the Percentage-of-Completion Method
First written in FY2021. 4 of 5 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2022: 10 of 85 companies on the "Worse" side.
53 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Estimates of total construction costs and other amounts are calculated by estimating the costs of all construction work required through completion and handover. If the scope of work changes after construction begins, estimates are revised in a timely and appropriate manner.」
The risks associated with estimating and re-estimating the degree of completion, revenue from completed construction contracts and construction costs continue to be disclosed. - FY2024RestatedAnnual report
「Estimates of total construction costs and other amounts are calculated by estimating the costs of all construction work required through completion and handover. If the scope of work changes after construction begins, estimates are revised in a timely and appropriate manner.」
The risks associated with estimating and re-estimating revenue, costs and the degree of completion as construction progresses continue to be disclosed. - FY2023RestatedAnnual report
「Estimates of total construction costs and other amounts are calculated by estimating the costs of all construction work required through completion and handover. If the scope of work changes after construction begins, estimates are revised in a timely and appropriate manner.」
The risks associated with estimating and re-estimating revenue, costs and the degree of completion as construction progresses continue to be disclosed. - FY2022RestatedAnnual report
「Estimates of total construction costs and other amounts are calculated by estimating the costs of all construction work required through completion and handover. If the scope of work changes after construction begins, estimates are revised in a timely and appropriate manner.」
The risks associated with estimating and re-estimating revenue, costs and the degree of completion as construction progresses continue to be disclosed. - FY2021First statedAnnual report
「Estimates of total construction costs and other amounts are calculated by estimating the costs of all construction work required through completion and handover. If the scope of work changes after construction begins, estimates are revised in a timely and appropriate manner.」
The risk that estimates of revenue, costs and the degree of completion under the percentage-of-completion method may affect business performance was disclosed for the first time as a separate critical accounting estimate.