Changes in Revenue Recognition Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
9 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「For made-to-order software development, revenue is recognized according to the degree of progress where reasonable estimates of progress can be made.」
The company continues to recognize revenue over time for made-to-order software and other contracts in accordance with the Accounting Standard for Revenue Recognition. - FY2022-Q2RestatedAnnual report
「We have applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) from the beginning of the current quarter, and the accounting treatment of revenue differs from that used for the preceding quarter presented for comparison.」
The company reconfirmed that it has applied the Accounting Standard for Revenue Recognition from the beginning of the current fiscal year and that its accounting treatment differs from that used in the same period of the previous year. - FY2022-Q1First statedAnnual report
「We have applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the first quarter of the current consolidated fiscal year. 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. Accordingly, for contracts involving made-to-order software, we previously applied the percentage-of-completion method to contracts where the outcome of the development work could be reliably estimated based on its progress, and the completed-contract method to other contracts. We have changed this approach, except for low-value or very short-term contracts, to recognize revenue over a period of time as performance obligations are satisfied.」
From 1 July 2021, the company applied the Accounting Standard for Revenue Recognition and related standards, changing the method for recognizing revenue from made-to-order software to recognition over time as performance obligations are satisfied. The impact on quarterly profit or loss was immaterial, and there was no impact on the opening balance of retained earnings.