Adoption of Accounting Standards for Revenue Recognition
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
7 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「Maintenance under periodic contracts, individual repairs and similar services are transactions in which the performance obligation is satisfied at a point in time, and revenue is recognized when the service is provided to the customer.」
The company continues its revenue recognition policies for periodic services, repairs, maintenance and construction following application of the Revenue Recognition Accounting Standard. - FY2022-Q3RestatedAnnual report
「The company applies the transitional treatment prescribed in the proviso to paragraph 84 of the Revenue Recognition Accounting Standard and applies the new accounting policy from the opening balance after adjusting retained earnings at the beginning of the first quarter for the cumulative effect of retrospective application before the beginning of the first quarter of the fiscal year. There was no effect on the opening balance of retained earnings. As a result, sales for the cumulative third-quarter period decreased by ¥3.795 million, while cost of sales also decreased by ¥3.795 million.」
The company continues to apply the Revenue Recognition Accounting Standard, disclosing that sales and cost of sales each decreased by ¥3.795 million for the cumulative third-quarter period. - FY2022-Q1First statedAnnual report
「We adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year and began recognizing revenue 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 company changed its accounting treatment for construction contracts to recognize revenue over a specified period, present agent transactions on a net basis, and recognize revenue from long-term warranty services over the warranty period. Following application, sales and cost of sales for the current quarter each decreased by ¥2.975 million.