Adoption of the Revenue Recognition Accounting Standard and Presentation of Contract Assets and Contract Liabilities
First written in FY2022-Q1. 2 of 5 entries say "Restated". Latest entry: FY2023-Q1.
2 other companies' latest entry also says "Reframed".
- FY2023-Q1ReframedAnnual report
「Based on the following 5-step approach, the Group recognizes revenue at an amount that reflects the consideration to which it expects to be entitled in exchange for transferring the promised goods or services to the customer.」
The disclosure was reorganized from application of Japan's revenue recognition accounting standard to an IFRS-based revenue recognition policy using the 5-step model, with recognition based on when performance obligations are satisfied and the degree of progress. - FY2022Disclosure of full-year impactAnnual report
「As a result, compared with the figures before applying the Revenue Recognition Standard and related standards, the consolidated income statement for the current consolidated fiscal year shows decreases of ¥102.8 billion in net sales and ¥108.128 billion in cost of sales, resulting in increases of ¥5.327 billion each in operating income, ordinary income and profit before income taxes.」
The company continued to apply the Revenue Recognition Standard for the full year and disclosed the specific cumulative effects on net sales, cost of sales, profit and retained earnings at the beginning of the period. - FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied 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 is transferred to the customer.」
The Revenue Recognition Standard and related standards continued to be applied. For the nine months ended the third quarter, net sales decreased by ¥82.963 billion, cost of sales decreased by ¥80.218 billion, operating income and other measures decreased by ¥2.745 billion, and retained earnings at the beginning of the period decreased by ¥39.639 billion. - FY2022-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied 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 is transferred to the customer.」
The Revenue Recognition Standard applied from the first quarter continued to be applied in the second quarter. For the six months ended the second quarter, net sales decreased by ¥49.375 billion, cost of sales decreased by ¥51.608 billion, and operating income and other measures increased by ¥2.233 billion. - FY2022-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Standard") and other applicable 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 is transferred to the customer.」
The Revenue Recognition Standard and related standards were applied from the beginning of the first quarter of fiscal 2021. Net sales decreased by ¥17.095 billion, cost of sales decreased by ¥18.121 billion, operating income and other measures increased by ¥1.026 billion, and retained earnings at the beginning of the period decreased by ¥39.639 billion. The presentation was also changed to contract assets and contract liabilities.