Preparing for the Adoption of the New Revenue Recognition and Fair Value Measurement Accounting Standards
First written in FY2021. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
32 other companies' latest entry also says "Achieved".
- FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Standard") and related 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 (ASBJ Statement No. 30, 4 July 2019; hereinafter, the "Fair Value Measurement Standard") and related standards were applied from the beginning of the first quarter of the current consolidated fiscal year. In accordance with the transitional treatment prescribed in paragraph 19 of the Fair Value Measurement Standard and paragraph 44-2 of the Accounting Standard for Financial Instruments (ASBJ Statement No. 10, 4 July 2019), the new accounting policies prescribed by the Fair Value Measurement Standard and related standards have been applied prospectively.」
The Revenue Recognition Standard and related standards and the Fair Value Measurement Standard and related standards, which had been scheduled for application in the previous fiscal year, were applied from 1 April 2021. The report states that the impact of the Revenue Recognition Standard on net sales and profit was immaterial, that it had no impact on retained earnings, and that the Fair Value Measurement Standard had no impact on the financial statements. - FY2021First statedAnnual report
「The standard will be applied from the beginning of the fiscal year ending March 2022.」
The Accounting Standard for Revenue Recognition and related standards, and the Accounting Standard for Fair Value Measurement and related standards, were scheduled to be applied from the beginning of the fiscal year ending March 2022. The amounts of their impact on the consolidated financial statements were under assessment or undetermined.