Recognition of a provision for points following the expansion of eligible stores
First written in FY2020-Q2. 2 of 4 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2021: 1 of 8 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「Regarding the points program in the kimono business, the Company previously recognized a provision for the costs expected to be incurred to exchange points in the future. However, when the points provide customers with a material right, they are identified as a performance obligation and revenue recognition is deferred.」
The accounting policy changed from the previous treatment of recognizing a provision for points to deferring revenue for points that constitute a material right continues to be applied. - FY2022-Q1ReframedAnnual report
「Regarding the points program in the kimono business, the Company previously recognized a provision for the costs expected to be incurred to exchange points in the future. However, when the points provide customers with a material right, they are identified as a performance obligation and revenue recognition is deferred.」
In connection with the adoption of the revenue recognition accounting standard, the Company changed from the previous treatment of recognizing a provision for points to deferring revenue for points that constitute a material right. - FY2020-Q3RestatedAnnual report
「Regarding the accounting treatment for points, as the scope of stores eligible for points was expanded and their significance increased, beginning with the first quarter of the current consolidated fiscal year, the amount expected to be used in the future based on the historical usage rate has been recognized as a provision for points. As a result, operating profit, ordinary profit and quarterly profit before income taxes each decreased by ¥21.754 million.」
The accounting treatment for the provision for points, which began in the first quarter, continued, and the Company disclosed that operating profit and other measures decreased by ¥21.754 million during the nine months ended in the third quarter. - FY2020-Q2First statedAnnual report
「Regarding the accounting treatment for points, as the scope of stores eligible for points was expanded and their significance increased, beginning with the first quarter of the current consolidated fiscal year, the amount expected to be used in the future based on the historical usage rate has been recognized as a provision for points.」
Following the expansion of stores eligible for points and the increase in their significance, the Company began, in the first quarter, to recognize the amount expected to be used in the future based on the historical usage rate as a provision for points. Operating profit, ordinary profit and quarterly profit before income taxes decreased by ¥17.141 million each.