Preparing to Adopt Revenue Recognition and Fair Value Measurement Standards
First written in FY2021. 4 of 7 entries say "Restated". Latest entry: FY2023-Q2.
131 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 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 Guidance, the company applied the new accounting policies prescribed by the guidance prospectively. This change had no impact on the quarterly consolidated financial statements for the second quarter or the cumulative period of the second quarter.」
The company reconfirms that applying the Fair Value Measurement Guidance from the beginning of the first quarter of the consolidated fiscal year had no impact on the financial statements for the second quarter. - 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 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 Guidance, the company applied the new accounting policies prescribed by the guidance prospectively. This change had no impact on the quarterly consolidated financial statements for the current first quarter or the cumulative period of the first quarter.」
The company applied the Fair Value Measurement Guidance from the beginning of the first quarter, moving from the preparation stage to actual application. It states that there was no impact on the financial statements. - FY2022RestatedAnnual report
「Compared with before applying the revenue recognition accounting standard and related standards, revenue for the current consolidated fiscal year increased by ¥3,421 million, cost of sales increased by ¥2,890 million, and operating income, ordinary income and net income before income taxes increased by ¥531 million each. The opening balance of retained earnings also increased by ¥135 million.」
The company reports the impact of applying the revenue recognition accounting standard and related standards throughout the fiscal year: revenue increased by ¥3,421 million, operating income and related items by ¥531 million, and opening retained earnings by ¥135 million. - FY2022-Q3RestatedAnnual report
「As a result, revenue for the first nine months of the current consolidated fiscal year increased by ¥2,293 million, cost of sales increased by ¥2,042 million, and operating income, ordinary income and quarterly net income before income taxes increased by ¥250 million each. The opening balance of retained earnings also increased by ¥135 million.」
The company reconfirms the impact on the first nine months of applying the revenue recognition accounting standard and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue increased by ¥2,293 million and operating income and related items increased by ¥250 million. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the first six months of the current consolidated fiscal year increased by ¥1,153 million, cost of sales increased by ¥858 million, and operating income, ordinary income and quarterly net income before income taxes increased by ¥295 million each. The opening balance of retained earnings also increased by ¥135 million.」
The company reconfirms the impact of applying the revenue recognition accounting standard and related standards from the beginning of the first quarter of the current consolidated fiscal year: revenue for the first six months increased by ¥1,153 million and operating income and related items increased by ¥295 million. - FY2022-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition and related 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 promised goods or services when control of those goods or services transfers to the customer. Accordingly, for certain contracts previously accounted for under the completed-contract method, the company changed its method to recognize revenue over a specified period as it satisfies its performance obligations. As a result, revenue for the first quarter of the current consolidated fiscal year increased by ¥521 million, cost of sales increased by ¥397 million, and operating income, ordinary income and quarterly net income before income taxes increased by ¥123 million each. The opening balance of retained earnings also increased by ¥135 million.」
The company actually applied the revenue recognition accounting standard and related standards from the beginning of the first quarter of FY2022, changing revenue recognition for certain contracts from the completed-contract method to recognition over a specified period as performance obligations are satisfied. The impact was an increase of ¥521 million in revenue, ¥123 million in operating income and related items, and ¥135 million in the opening balance of retained earnings. - FY2021First statedAnnual report
「The cumulative effect of applying the Accounting Standard for Revenue Recognition and other standards is expected to be reflected in net assets at the beginning of the following consolidated fiscal year, increasing the opening balance of retained earnings by ¥137 million.」
The company planned to apply the revenue recognition accounting standard and related standards from the beginning of the fiscal year ending March 2022 and expected the impact on the opening balance of retained earnings to be ¥137 million. It also planned to apply the accounting standard for fair value measurement and related standards at the same time, with the impact still under evaluation.