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.
2 other companies' latest entry also says "Achieved".
- FY2022-Q1AchievedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter the “Revenue Recognition Standard”) and related standards from the beginning of the current first-quarter accounting period. 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 revenue recognition standard and related standards scheduled for FY2021 were applied from the beginning of the first quarter of the fiscal year ending March 2022. The timing of revenue recognition for export sales transactions was also changed to the point at which the performance obligation is satisfied under the contractual terms. - FY2021First statedAnnual report
「The Company will apply the standard from the beginning of the fiscal year ending March 2022. For export sales transactions, the Company expects to change its revenue recognition method so that revenue is recognized when the goods or services are transferred to the customer and the performance obligation is satisfied in accordance with the contractual terms. Retained earnings at the date of initial application are expected to decrease by ¥48 million.」
The Company planned to apply the revenue recognition standard from the beginning of the fiscal year ending March 2022 and change the timing of revenue recognition for export sales transactions. Retained earnings at the date of initial application were expected to decrease by ¥48 million.