Adoption of Revenue Recognition Accounting Standards from the Fiscal Year Ending March 2022
First written in FY2021. 1 of 3 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q2.
- FY2022-Q2Impact of Revenue Recognition Standard SpecifiedAnnual report
「As a result, for the six months ended the second quarter, sales and cost of sales increased by ¥1,512 million and ¥1,222 million, respectively, while operating loss, ordinary loss and quarterly net loss before income taxes each decreased by ¥289 million. Retained earnings at the beginning of the period also decreased by ¥351 million.」
The company has specifically disclosed the impact of applying the accounting standards for revenue recognition and related standards from the first quarter on sales, cost of sales, losses and retained earnings at the beginning of the period for the six months ended the second quarter. - FY2022-Q1AchievedAnnual report
「The Company applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other relevant standards from the beginning of the first quarter of the current 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 standards for revenue recognition and related standards, which were scheduled to apply from the fiscal year ending March 2022, were actually applied from the beginning of the first-quarter consolidated accounting period. As a result, first-quarter sales decreased by ¥1,107 million, operating loss and other losses decreased by ¥215 million, and retained earnings at the beginning of the period decreased by ¥351 million. - FY2021First statedAnnual report
「The impact of applying the Accounting Standard for Revenue Recognition and related guidance on the consolidated financial statements is immaterial.」
The company planned to adopt the Accounting Standard for Revenue Recognition and related standards from the beginning of the fiscal year ending March 2022, and expected the impact on the consolidated financial statements to be immaterial.