Change in Revenue Recognition Methods Following Adoption of the Revenue Recognition Standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2022.
35 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「As a result, compared with before the application of the revenue recognition accounting standard and related standards, revenue for the consolidated fiscal year increased by ¥618.455 million, cost of sales increased by ¥50.056 million, and selling, general and administrative expenses increased by ¥423.266 million. Operating profit, ordinary profit and profit before income taxes increased by ¥145.132 million each.」
The company continues to apply the revenue recognition accounting standard and has disclosed its full-year impact on revenue and profit. - FY2022-Q3RestatedAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, revenue increased by ¥485.380 million, cost of sales increased by ¥37.438 million, and selling, general and administrative expenses increased by ¥327.758 million. Operating profit, ordinary profit and profit before income taxes increased by ¥120.183 million each.」
The company disclosed the impact of applying the revenue recognition accounting standard from the first quarter on revenue and profit for the cumulative third quarter, and continues to apply the accounting treatment following adoption. - FY2022-Q1First statedAnnual report
「We adopted the Accounting Standard for Revenue Recognition and related standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is recognised 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.」
From the beginning of FY2022-Q1, the company applied the revenue recognition accounting standard, separating the performance obligations for sales of water ionizers and cartridges from repair warranty services and recognizing revenue when products were delivered and installation was completed, and over the warranty period.