Application of the New Revenue Recognition and Fair Value Measurement Accounting Standards for the Fiscal Year Ending March 2022
First written in FY2021. 1 of 4 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022.
14 other companies' latest entry also says "Other".
- FY2022Full-year impact of the new accounting standards finalizedAnnual report
「As a result, compared with before application of the Revenue Recognition Standard and other standards, the consolidated statement of income for the fiscal year under review showed a ¥816.278 million decrease in net sales, a ¥843.917 million decrease in cost of sales, and ¥27.639 million increases in operating profit, ordinary profit, and profit before income taxes.」
For the Revenue Recognition Standard applied from 1 April 2021, full-year net sales decreased by ¥816.278 million and operating profit and other amounts increased by ¥27.639 million. - FY2022-Q3Updated the impact of applying the new accounting standardsAnnual report
「As a result, net sales for the cumulative third-quarter period decreased by ¥608.756 million, cost of sales decreased by ¥611.961 million, and operating profit, ordinary profit, and profit before income taxes increased by ¥3.204 million each. The opening balance of retained earnings also decreased by ¥43.683 million.」
The company disclosed the impact of the Revenue Recognition Standard applied from 1 April 2021 on net sales, retained earnings, and other items for the cumulative third-quarter period. - FY2022-Q1AchievedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020, hereinafter the “Revenue Recognition Standard”) and other standards from the beginning of the first quarter of the fiscal year under review. 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 company also applied the Accounting Standard for Fair Value Measurement (Accounting Standard No. 30, 4 July 2019, hereinafter the “Fair Value Measurement Standard”) and other standards from the beginning of the first quarter of the fiscal year under review, applying the new accounting policies prescribed by the Fair Value Measurement Standard and other standards prospectively.」
The company actually applied the Revenue Recognition Standard and Fair Value Measurement Standard, which had been scheduled for application in the previous fiscal year, from the beginning of the first quarter accounting period on 1 April 2021. Applying the Revenue Recognition Standard reduced net sales by ¥178.915 million and operating profit and other amounts by ¥24.028 million. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2022. The Accounting Standard for Fair Value Measurement and other standards are also scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The new accounting standards relating to revenue recognition and fair value measurement were scheduled to be applied from the beginning of the fiscal year ending March 2022, and their impact on the financial statements was under assessment.