Preparing for adoption of the revenue recognition accounting standard in the fiscal year ending March 2022
First written in FY2019. 2 of 4 entries say "Restated". Latest entry: FY2022-Q1.
- FY2022-Q1AchievedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Accounting Standard") and other standards from the beginning of the first-quarter consolidated accounting period. 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 company actually applied the Accounting Standard for Revenue Recognition from the beginning of the first quarter of the current consolidated fiscal year, as previously planned from the beginning of the fiscal year ending March 2022. The point at which revenue from travel products is recognized changed from the departure date to the return date, and transactions conducted as an agent changed from gross presentation to net presentation. As a result of the application, net sales decreased by ¥120.168 million, cost of sales decreased by ¥119.371 million, selling, general and administrative expenses decreased by ¥0.417 million, and the opening balance of retained earnings decreased by ¥1.648 million. - FY2021RestatedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company continues to plan to apply the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending March 2022. The impact is under assessment. - FY2020RestatedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company continues its previous policy of applying the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending March 2022. - FY2019First statedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The company indicated that it plans to apply the Accounting Standard for Revenue Recognition and its implementation guidance from the beginning of the fiscal year ending March 2022, and that it is assessing the impact on the financial statements.