Application of New Accounting Standards (Revenue Recognition, Equity Securities, etc.)
First written in FY2019-Q1. 8 of 11 entries say "Advanced", first in FY2019-Q2. Latest entry: FY2025.
1 other company's latest entry also says "Advanced".
- FY2025AdvancedAnnual report
「IFRS 18 will apply to Sony from 1 April 2027, although early adoption is permitted. Sony is assessing the impact of adopting IFRS 18 on its consolidated financial statements.」
The company disclosed that it is assessing the impact of IFRS 18, the new accounting standard that revises the presentation and disclosure of financial statements, which is scheduled to apply from 1 April 2027. - FY2025-H1AdvancedAnnual report
「In May 2023, the IASB issued Supplier Finance Arrangements (amendments to IAS 7 and IFRS 7). The amendments require disclosures about supplier finance arrangements, and Sony has applied them from 1 April 2024.」
Sony adopted amendments to IAS 1, IAS 7 and IFRS 7 from 1 April 2024. Although they had no material impact on results of operations or financial position, Sony updated disclosures on the classification of liabilities, covenant requirements and supplier finance arrangements. - FY2024-Q1AchievedAnnual report
「Sony has applied IFRS 17 from 1 April 2023. As a result, the impact of adopting IFRS 17 on Sony's total equity as of 1 April 2022, the transition date, was a decrease of approximately ¥1.5 trillion, comprising an increase of approximately ¥400 billion in retained earnings and a decrease of approximately ¥1.9 trillion in accumulated other comprehensive income. These changes were mainly due to the impact of changes in the discount rates used to measure insurance contract liabilities and other differences in measurement methods between IFRS 4 and IFRS 17.」
Sony began applying IFRS 17 from 1 April 2023 as scheduled and disclosed that total equity decreased by approximately ¥1.5 trillion at the transition date. - FY2023AdvancedAnnual report
「IFRS 17 will apply to Sony from 1 April 2023. ... Sony expects total equity to decrease by approximately ¥1.5 trillion as of 1 April 2022, the transition date, mainly due to the impact of changes in the discount rates used to measure insurance contract liabilities and other factors.」
Ahead of adopting IFRS 17 from 1 April 2023, Sony provided details on the transition method, changes in the presentation of insurance-related items, and the expected ¥1.5 trillion decrease in total equity. - FY2022-Q1AdvancedAnnual report
「IFRS 17 will apply to Sony from 1 April 2023. Sony is assessing the impact of adopting IFRS 17 on its results of operations and financial position.」
Sony disclosed that IFRS 17 for insurance contracts was scheduled to be adopted from 1 April 2023 and that its impact on results of operations and financial position was under assessment. - FY2021-Q1AdvancedAnnual report
「Sony has applied this ASU from 1 April 2020. The adoption of this ASU had no material impact on Sony's results of operations or financial position.」
Sony adopted ASU 2016-13 on the measurement of credit losses on financial instruments from 1 April 2020. It also adopted ASU 2019-02 on film production costs and licensing agreements for program content from the same date and changed the presentation classification. - FY2020-Q1AchievedAnnual report
「As a result of adopting this ASU, Sony recognized right-of-use assets of ¥316,923 million and lease liabilities of ¥341,251 million related to operating leases in its consolidated financial statements as of 1 April 2019.」
Sony adopted the new lease accounting standard from 1 April 2019 and recognized right-of-use assets of ¥316.923 billion and lease liabilities of ¥341.251 billion. - FY2019AdvancedAnnual report
「This ASU will apply to Sony from 1 April 2019. Sony continues to assess the impact of adopting this ASU, but expects operating lease contracts related to real estate to have a significant impact. As a result of the operating lease contracts related to real estate, Sony expects to recognize right-of-use assets and operating lease liabilities of approximately ¥300 billion to ¥350 billion on the consolidated balance sheet.」
Ahead of adopting the new lease standard in April 2019, Sony indicated that it expected to recognize approximately ¥300 billion to ¥350 billion of right-of-use assets and lease liabilities. - FY2019-Q3AdvancedAnnual report
「Of the contract liability balance as of 1 April 2018, ¥187,773 million was recognized as revenue during the cumulative third quarter of fiscal 2018.」
For the revenue recognition standard adopted from fiscal 2018, ¥187,773 million of opening contract liabilities was recognized as revenue during the cumulative third quarter. - FY2019-Q2AdvancedAnnual report
「Contract liabilities primarily represent balances related to consideration received from customers before the related contracts are fulfilled. Of the contract liability balance as of 1 April 2018, ¥166,566 million was recognized as revenue during the cumulative second quarter of fiscal 2018.」
For the revenue recognition standard adopted from fiscal 2018, Sony disclosed that ¥166.566 billion of opening contract liabilities was recognized as revenue during the cumulative second quarter. - FY2019-Q1First statedAnnual report
「Sony applied this ASU from the first quarter beginning on 1 April 2018, using the modified retrospective method, under which the cumulative effect related to contracts not completed at the date of initial application was adjusted through retained earnings at the beginning of the period of initial application.」
Sony adopted multiple U.S. accounting standards from 1 April 2018, including standards on revenue recognition, fair value measurement of equity securities, intra-group asset transfers, cash flow presentation, and presentation of pension costs.