Preparation for the Adoption of the Revenue Recognition Standard
First written in FY2021. 1 of 4 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q3.
- FY2022-Q3Updated impact of adoption on the nine-month cumulative periodAnnual report
「The company adopted the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognised at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services. As a result, revenue and operating profit for the cumulative third quarter decreased by ¥7 million each.」
The company disclosed that, under the Accounting Standard for Revenue Recognition adopted from the first quarter, revenue and operating profit each decreased by ¥7 million for the cumulative third-quarter period. - FY2022-Q2Recognition of the impact of adoptionAnnual report
「As a result, revenue and operating profit for the cumulative second quarter decreased by ¥5 million each, while ordinary profit and quarterly net income before income taxes decreased by ¥2 million each. There was no impact on the opening balance of retained earnings.」
The company disclosed the specific impact of the Accounting Standard for Revenue Recognition, adopted from the first quarter, on the cumulative second-quarter period. - FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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 transfers to the customer.」
The company actually adopted the Accounting Standard for Revenue Recognition and related standards, which had been identified as preparations for adoption from the fiscal year ending March 2022, from the beginning of the first quarter of the current fiscal year. It stated that there was no impact on the quarterly consolidated financial statements. - FY2021First statedAnnual report
「Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020).」
The company planned to adopt the Accounting Standard for Revenue Recognition and its implementation guidance from the beginning of the fiscal year ending March 2022 and was assessing the impact.