Preparation for the Adoption of Accounting Standards on Revenue Recognition and Fair Value Measurement
First written in FY2021. 2 of 5 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2023-Q2.
130 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「The company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021, hereinafter the “Fair Value Measurement Implementation Guidance”) from the beginning of the first quarter of the consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Implementation Guidance, the company will apply the new accounting policies prescribed therein prospectively. The application has no impact on the consolidated financial statements.」
The company reconfirmed its policy of applying the Fair Value Measurement Implementation Guidance from the beginning of the first quarter of the consolidated fiscal year and that the application has no impact on the consolidated financial statements. - FY2023-Q1AchievedAnnual report
「The company applied the Implementation Guidance on Accounting Standard for Fair Value Measurement (ASBJ Guidance No. 31, 17 June 2021, hereinafter the “Fair Value Measurement Implementation Guidance”) from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 27-2 of the Fair Value Measurement Implementation Guidance, the company will apply the new accounting policies prescribed therein prospectively. The application has no impact on the consolidated financial statements.」
The company actually applied the implementation guidance related to fair value measurement, which had previously been identified as requiring preparation, from the beginning of the first quarter. There is no impact on the consolidated financial statements. - FY2022-Q3Cumulative update to the impact of applying the revenue recognition standardAnnual report
「As a result, net sales for the nine-month period ended 31 December increased by ¥87 million, cost of sales increased by ¥67 million, and operating income, ordinary income and income before income taxes increased by ¥20 million each. In addition, the opening balance of retained earnings increased by ¥12 million.」
The company disclosed that, for the nine-month period, application of the revenue recognition standard introduced from the first quarter increased net sales by ¥87 million and operating income, ordinary income and other relevant amounts by ¥20 million. - FY2022-Q1AchievedAnnual report
「The “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other standards were 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 “Accounting Standard for Fair Value Measurement” (Accounting Standards Board of Japan Statement No. 30, 4 July 2019, hereinafter the “Fair Value Measurement Standard”) and other standards were also applied from the beginning of the first quarter of the current consolidated fiscal year, and the new accounting policies prescribed by the Fair Value Measurement Standard and related standards are being applied prospectively.」
The company actually applied the Accounting Standard for Revenue Recognition and the Accounting Standard for Fair Value Measurement, for which it had outlined its preparation policy in FY2021, from the beginning of the first quarter of the fiscal year ending March 2022. Application of the revenue recognition standard reduced quarterly net sales by ¥85 million and operating income, ordinary income and other relevant amounts by ¥17 million, and presentation was changed to include contract assets. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards will be applied from the beginning of the fiscal year ending March 2022. The Accounting Standard for Fair Value Measurement and related standards will also be applied from the beginning of the fiscal year ending March 2022.」
The company plans to apply the new accounting standards on revenue recognition, fair value measurement and financial instruments from the beginning of the fiscal year ending March 2022. The impact is currently under assessment or has not yet been determined.