Five-Step Revenue Recognition Under IFRS 15
First written in FY2019-Q1. 3 of 4 entries say "Restated". Latest entry: FY2019.
16 other companies' latest entry also says "Restated".
- FY2019RestatedAnnual report
「The consolidated companies recognize revenue based on the following five-step approach: Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the distinct performance obligations in the contract. Step 5: Recognize revenue when, or as, the entity satisfies a performance obligation.」
Revenue recognition under the five-step approach of IFRS 15 continues to be applied. - FY2019-Q3RestatedAnnual report
「Upon applying IFRS 15, revenue is recognized based on the following five-step approach: Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the distinct performance obligations in the contract. Step 5: Recognize revenue when, or as, a performance obligation is satisfied.」
The five-step revenue recognition approach under IFRS 15, applied from the first quarter, continued to be used. During the nine-month period of the current third quarter, both revenue and cost of sales decreased by ¥42,006 million. - FY2019-Q2RestatedAnnual report
「Upon applying IFRS 15, revenue is recognized based on the following five-step approach: Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the distinct performance obligations in the contract. Step 5: Recognize revenue when, or as, a performance obligation is satisfied. During the six-month period of the current second quarter, revenue and cost of sales each decreased by ¥27,436 million.」
IFRS 15 and five-step revenue recognition, applied from the first quarter, continued to be used. During the six-month period of the current second quarter, both revenue and cost of sales decreased by ¥27,436 million due to a change in the presentation of consideration payable to customers. - FY2019-Q1First statedAnnual report
「The consolidated companies have applied IFRS 15 “Revenue from Contracts with Customers” from the current first quarter. Revenue is recognized based on the following five-step approach under IFRS 15: Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the distinct performance obligations in the contract. Step 5: Recognize revenue when, or as, a performance obligation is satisfied.」
IFRS 15 was applied from the first quarter, and revenue recognition under the five-step approach began. Its application also affected the presentation, including reductions of ¥13,614 million each in revenue and cost of sales.