Application of the Revenue Recognition Accounting Standard from the Fiscal Year Ending June 2022
First written in FY2018. 1 of 5 entries say "Restated". Latest entry: FY2022-Q3.
- FY2022-Q3Updated the cumulative third-quarter impact of the revenue recognition standardAnnual report
「As a result, revenue increased by ¥5,706 thousand and cost of sales increased by ¥4,502 thousand for the first nine months of the current consolidated fiscal year. Operating loss, ordinary loss and loss before income taxes for the quarter each decreased by ¥1,203 thousand. Retained earnings at the beginning of the fiscal year also increased by ¥369 thousand.」
The company updated its disclosure of the impact on revenue, cost of sales, loss and retained earnings for the first nine months of the current fiscal year of the revenue recognition standard applied from the beginning of the first quarter of the current consolidated fiscal year. - FY2022-Q2Details of the impact of applying the revenue recognition standardAnnual report
「As a result, revenue increased by ¥20,789 thousand and cost of sales increased by ¥18,515 thousand for the first six months of the current consolidated fiscal year. Operating loss, ordinary loss and loss before income taxes for the quarter each decreased by ¥2,273 thousand. Retained earnings at the beginning of the fiscal year also increased by ¥369 thousand.」
The company disclosed details of the impact of the revenue recognition standard, applied from the beginning of the fiscal year, on revenue, cost of sales, loss and retained earnings for the first six months of the current fiscal year. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were adopted from the beginning of the current first quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services is transferred to the customer.」
The Accounting Standard for Revenue Recognition and related standards, which had been scheduled for application from the beginning of the fiscal year ending June 2022, were actually applied from the beginning of the first quarter of the current consolidated fiscal year. As a result, revenue and operating loss, among other items, for the quarter decreased by ¥5,367 thousand and ¥1,631 thousand, respectively, while retained earnings at the beginning of the fiscal year increased by ¥369 thousand. - FY2019RestatedAnnual report
「We will apply it from the beginning of the fiscal year ending June 2022.」
The company continues to disclose its plan to apply the Accounting Standard for Revenue Recognition from the beginning of the fiscal year ending June 2022. - FY2018First statedAnnual report
「Scheduled effective date The standards will be applied from the beginning of the fiscal year ending June 2022.」
The company disclosed for the first time that it planned to apply the Accounting Standard for Revenue Recognition and related implementation guidance from the beginning of the fiscal year ending June 2022. The impact on the consolidated financial statements is currently under evaluation.