Adoption of Revenue Recognition Accounting Standards
First written in FY2022-Q1. 1 of 2 entries say "Advanced", first in FY2023. Latest entry: FY2023.
15 other companies' latest entry also says "Advanced".
- FY2023AdvancedAnnual report
「The company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021) from the beginning of the current consolidated fiscal year. In accordance with the transitional treatment stipulated in Paragraph 27-2 of the implementation guidance, the company decided to apply prospectively the new accounting policies prescribed by the implementation guidance.」
Following the application of the accounting standard for fair value measurement, the company also applied the implementation guidance from the beginning of the current fiscal year. There was no impact on the consolidated financial statements. - FY2022-Q1First statedAnnual report
「The Company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the current consolidated fiscal year, and recognizes revenue 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 applied the revenue recognition accounting standards and related guidance from the beginning of the first quarter of the current consolidated fiscal year and changed its presentation to include contract assets and contract liabilities. The impact on the quarterly consolidated financial statements was immaterial, and there was no impact on the opening balance of retained earnings.