Application of the Revenue Recognition Accounting Standard in the Fiscal Year Ending August 2022
First written in FY2021. 1 of 5 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022.
- FY2022Review of the full-year impact of applying the revenue recognition standardAnnual report
「The company applies the revenue recognition standards and other guidance in accordance with the transitional treatment prescribed in the proviso to paragraph 84 of the revenue recognition standard, with no impact on the opening balance of retained earnings. The impact of applying the revenue recognition standards and other guidance on net sales, gross profit, operating income, ordinary income and profit before income taxes for the current consolidated fiscal year is immaterial.」
For the revenue recognition standard applied from the beginning of the 63rd fiscal year, the company confirms for the full year that there is no impact on opening retained earnings and only an immaterial impact on major profit and loss items for the current period. - FY2022-Q3Continued reclassification from advance receipts to contract liabilitiesAnnual report
「Following the application of the revenue recognition standards and other guidance, the amount previously presented as 'advance receipts' under 'current liabilities' on the consolidated balance sheet for the previous consolidated fiscal year is presented as 'contract liabilities' from the first quarter of the current consolidated accounting period.」
Following the application of the revenue recognition standard, the company continues from the first quarter to present advance receipts as contract liabilities. - FY2022-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020), among others, was applied from the beginning of the first quarter of the current consolidated fiscal year. 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 company continues to apply in the second quarter the revenue recognition standard adopted from the beginning of the fiscal year ending August 2022. - FY2022-Q1AchievedAnnual report
「The Company adopted the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year. 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 transfers to the customer.」
The revenue recognition standard scheduled for application from the beginning of the fiscal year ending August 2022 was actually applied from the beginning of the first quarter of the current consolidated accounting period. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards are scheduled to be applied from the beginning of the fiscal year ending August 2022.」
The company planned to apply the accounting standards and other guidance on revenue recognition from the beginning of the fiscal year ending August 2022 and expected the impact on the consolidated financial statements to be immaterial.