Adoption of the Revenue Recognition Standard from the Fiscal Year Ending March 2022
First written in FY2021. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
21 other companies' latest entry also says "Achieved".
- FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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 transfers to the customer.」
The revenue recognition accounting standard, which had been scheduled for application from the fiscal year ending March 2022, was actually applied from the beginning of the first quarter of the current fiscal year. - FY2021First statedAnnual report
「This is a comprehensive accounting standard for revenue recognition. Revenue is recognised by applying the following 5 steps. Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognise revenue when, or as, a performance obligation is satisfied. The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022.」
It was first disclosed that the revenue recognition accounting standard was scheduled to be applied from the beginning of the fiscal year ending March 2022, and that the 5-step revenue recognition method and its impact were being assessed.