Change in Revenue Presentation Due to Application of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 3 of 5 entries say "Restated". Latest entry: FY2024-Q1.
Uacj moved to the "Worse" side of this theme in 2023.
1 other company's latest entry also says "Reframed".
- FY2024-Q1ReframedAnnual report
「For certain sales transactions involving goods that had been recognized under Japanese GAAP on a shipment basis, the timing of revenue recognition was changed to the point of delivery, and “trade receivables and other receivables” and “inventories” were adjusted.」
In connection with the first-time adoption of IFRS, revenue recognition for certain sales of goods was changed from the Japanese GAAP shipping basis to recognition when the goods are delivered, and asset and revenue presentation was adjusted. - FY2022RestatedAnnual report
「Compared with before the application of the accounting standards for revenue recognition and other relevant standards, net sales for the current consolidated fiscal year decreased by ¥31,041 million and cost of sales decreased by ¥31,029 million, while the impact on operating profit, ordinary profit, and profit before income taxes was immaterial.」
The Company continued to apply the accounting standards for revenue recognition throughout the fiscal year, explaining that net presentation of agent transactions reduced net sales and cost of sales but had an immaterial impact on profit. - FY2022-Q3RestatedAnnual report
「As a result, compared with before the application of the accounting standards for revenue recognition and other relevant standards, net sales for the third quarter of the current consolidated cumulative period decreased by ¥23,545 million and cost of sales decreased by ¥23,542 million. The impact on operating profit, ordinary profit, and profit before income taxes was immaterial.」
Under the accounting standards for revenue recognition applied from the first quarter, the Company continued to present agent transactions on a net basis. For the third quarter cumulative period, net sales and cost of sales decreased, while the impact on profit was described as immaterial. - FY2022-Q2RestatedAnnual report
「As a result, compared with before the application of the accounting standards for revenue recognition and other relevant standards, net sales for the second quarter of the current consolidated cumulative period decreased by ¥15,696 million and cost of sales decreased by ¥15,689 million. The impact on operating profit, ordinary profit, and profit before income taxes was immaterial.」
Under the accounting standards for revenue recognition applied from the first quarter, the Company continued to present agent transactions on a net basis. For the second quarter cumulative period, net sales and cost of sales decreased by ¥15,696 million and ¥15,689 million, respectively, while the impact on profit was described as immaterial. - FY2022-Q1First statedAnnual report
「As a result, compared with before the application of the accounting standards for revenue recognition and other relevant standards, net sales for the first quarter of the current consolidated cumulative period decreased by ¥11,629 million and cost of sales decreased by ¥11,621 million. The impact on operating profit, ordinary profit, and profit before income taxes was immaterial.」
The accounting standards for revenue recognition and other relevant standards were applied from the beginning of the first quarter of the current consolidated accounting period, and transactions for which the Company acts as an agent were changed from gross to net presentation. Net sales and cost of sales both decreased, but the impact on profit was described as immaterial.