Adoption of the Revenue Recognition Accounting Standard and Net Presentation of Agent Transactions
First written in FY2022-Q1. 3 of 4 entries say "Restated". Latest entry: FY2022.
50 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, for certain transactions involving services provided by our Group, we changed from recognizing the total consideration received from customers as revenue, as had previously been the case, to recognizing revenue on a net basis, after deducting payments to third parties from the total consideration, for transactions determined to involve our Group acting as an agent. Consequently, net sales and cost of sales for the current consolidated fiscal year decreased by ¥115 million.」
The revenue recognition standard has been applied, and net recognition of agent transactions continues. - FY2022-Q3RestatedAnnual report
「As a result, for certain transactions involving services provided by our Group, we changed from recognizing the total consideration received from customers as revenue, as had previously been the case, to recognizing revenue on a net basis, after deducting payments to third parties from the total consideration, for transactions determined to involve our Group acting as an agent. Consequently, net sales and cost of sales for the third quarter of the current consolidated cumulative period decreased by ¥73 million.」
The net recognition of agent transactions under the revenue recognition standard continued, and the impact on net sales and cost of sales for the third quarter of the current consolidated cumulative period was ¥73 million. - FY2022-Q2RestatedAnnual report
「As a result, for certain transactions involving services provided by our Group, we changed from recognizing the total consideration received from customers as revenue, as had previously been the case, to recognizing revenue on a net basis, after deducting payments to third parties from the total consideration, for transactions determined to involve our Group acting as an agent. Consequently, net sales and cost of sales for the second quarter of the current consolidated cumulative period decreased by ¥38 million.」
The net recognition of agent transactions under the revenue recognition standard continued, and the impact on net sales and cost of sales for the second quarter of the current consolidated cumulative period was ¥38 million. - FY2022-Q1First statedAnnual report
「As a result, for certain transactions involving services provided by our Group, we changed from recognizing the total consideration received from customers as revenue, as had previously been the case, to recognizing revenue on a net basis, after deducting payments to third parties from the total consideration, for transactions determined to involve our Group acting as an agent. Consequently, net sales and cost of sales for the first quarter of the current consolidated cumulative period decreased by ¥25 million.」
The revenue recognition standard was applied from the beginning of the first quarter of the current accounting period, and agent transactions changed from gross to net presentation. Net sales and cost of sales decreased by ¥25 million.