Changes in Revenue Recognition following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022-Q3.
91 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, during the cumulative third quarter of the current fiscal year, revenue increased by ¥42.089 million, cost of sales by ¥29.968 million, operating income by ¥11.335 million, and ordinary income and income before income taxes by ¥11.771 million each. The opening balance of retained earnings also decreased by ¥6.737 million.」
Application of the revenue recognition accounting standard continued, with the impact on the cumulative third quarter including increases of ¥42.089 million in revenue, ¥11.335 million in operating income and ¥11.771 million in ordinary income and related items. - FY2022-Q2RestatedAnnual report
「As a result, during the cumulative second quarter of the current fiscal year, revenue increased by ¥7.016 million, cost of sales by ¥5.486 million, operating income by ¥1.006 million, and ordinary income and income before income taxes by ¥1.308 million each. The opening balance of retained earnings also decreased by ¥6.737 million.」
Application of the revenue recognition accounting standard continued, with the cumulative second-quarter impact including increases of ¥7.016 million in revenue, ¥1.006 million in operating income and ¥1.308 million in ordinary income. - FY2022-Q1First statedAnnual report
「We applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the current first-quarter consolidated accounting period, and now recognize revenue at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The company changed its revenue recognition methods, including changing recognition from shipment at the time of shipment to recognition upon arrival, recognizing revenue based on the progress of performance obligations over a specified period, and separating the financing component in installment sales. As a result of applying the changes, revenue increased by ¥44.526 million, operating income by ¥12.624 million and ordinary income by ¥12.779 million during the cumulative first quarter of the current fiscal year, while the opening balance of retained earnings decreased by ¥6.737 million.