Variability in the Timing of Revenue Recognition for Period-End Delivery and Customer Acceptance and Custom-Built Machines for European Medical Applications
First written in FY2021. 1 of 2 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2020: 10 of 32 companies on the "Worse" side.
20 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「Although deliveries tend to be concentrated in the fourth quarter, particularly in the final month of the fiscal year, due to the characteristics of Japanese companies' fiscal years and customers' industries, among other factors, depending on the delivery schedules of other companies' products delivered and accepted during the same period and the status of customer acceptance inspections, the planned revenue and cost of sales may be recognized in the following consolidated fiscal year.」
The filing continues to disclose the risk that the timing of revenue recognition may vary because deliveries are concentrated in the fourth quarter and depend on customer acceptance inspections. - FY2021First statedAnnual report
「Although deliveries tend to be concentrated in the fourth quarter, particularly in the final month of the fiscal year, depending on the delivery schedules of other companies' products delivered and accepted during the same period and the status of customer acceptance inspections, the planned revenue and cost of sales may be recognized in the following consolidated fiscal year.」
For the first time, the filing separately identifies the risk that the timing of revenue and cost of sales recognition may vary due to deliveries being concentrated in the fourth quarter and the status of customer acceptance inspections. It also describes differences in the timing of revenue recognition for custom-built machines for the European medical market depending on the contract terms.