Preparation for Applying the Accounting Standard for Revenue Recognition in the Fiscal Year Ending March 2022
First written in FY2019. 4 of 7 entries say "Restated". Latest entry: FY2023-Q1.
23 other companies' latest entry also says "Achieved".
- FY2023-Q1AchievedAnnual report
「We applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and other standards from the beginning of the current first quarter of the consolidated fiscal year,」
Application of the revenue recognition accounting standard, scheduled from the beginning of the fiscal year ending March 2022, had already been implemented in FY2022-Q1, and no new changes were described for the current quarter. - FY2022RestatedAnnual report
「As a result, revenue from completed construction contracts and the corresponding cost of completed construction contracts for the consolidated fiscal year decreased by ¥604 million each. There was no impact on the opening balance of retained earnings for the current fiscal year or on per-share information.」
The disclosure states that, under the revenue recognition accounting standard applied from the beginning of the fiscal year ending March 2022, revenue from completed construction contracts and the related costs for the current fiscal year decreased by ¥604 million. - FY2022-Q3RestatedAnnual report
「As a result of this change, revenue from completed construction contracts and the corresponding cost of completed construction contracts for the cumulative third quarter of the consolidated fiscal year each decreased by ¥436 million. There was no impact on the opening balance of retained earnings for the current fiscal year.」
Regarding the revenue recognition accounting standard applied from the beginning of the first quarter of the consolidated fiscal year, the company continues to apply treatments including net presentation and revenue recognition over time, and reports an impact of ¥436 million on revenue from completed construction contracts and the corresponding cost for the cumulative third quarter. - FY2022-Q2RestatedAnnual report
「For revenue from certain businesses, the company previously recognized revenue on a gross basis. However, after determining its role in providing goods or services to customers, whether as principal or agent, it changed to recognizing revenue on a net basis. For construction contracts, the company previously applied the percentage-of-completion method when the outcome of the work in progress could be reliably determined. It has changed to recognizing revenue over time as it satisfies performance obligations to transfer goods or services to customers when control of those goods or services transfers to the customer over a specified period.」
Regarding the revenue recognition accounting standard applied from the first quarter, the company describes the specific treatment following adoption, including net presentation for agency transactions and revenue recognition over time for construction contracts. For the cumulative second quarter, revenue from completed construction contracts and the corresponding cost of completed construction contracts decreased by ¥277 million. - FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter of the current consolidated fiscal year, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards, and began recognizing revenue at the amount expected to be received in exchange for promised goods or services when control of those goods or services transfers to the customer.」
The Accounting Standard for Revenue Recognition, which had been scheduled for application from the beginning of the fiscal year ending March 2022, was actually applied from the beginning of the first quarter of the current fiscal year. - FY2020RestatedAnnual report
「The company plans to apply it from the beginning of the fiscal year ending March 2022.」
The company reaffirmed its plan to apply the revenue recognition accounting standard from the beginning of the fiscal year ending March 2022, and stated that the impact was being assessed. - FY2019First statedAnnual report
「The company plans to apply it from the beginning of the fiscal year ending March 2022.」
The company plans to apply the accounting standard and implementation guidance on revenue recognition from the beginning of the fiscal year ending March 2022, and is assessing the impact.