Adoption of the Accounting Standard for Revenue Recognition and Related Standards
First written in FY2022-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023-Q2.
93 other companies' latest entry also says "Restated".
- FY2023-Q2RestatedAnnual report
「Following the application of the Revenue Recognition Standard and other standards, in the consolidated balance sheet for the previous consolidated fiscal year, part of 'notes and accounts receivable—trade,' presented under 'current assets,' has been included and presented as 'contract assets' from the first-quarter consolidated accounting period. The opening balance of retained earnings for the current fiscal year increased by ¥15 million.」
The Company continues to disclose the presentation of contract assets following application of the Revenue Recognition Standard and the ¥15 million increase in the opening balance of retained earnings. - FY2022-Q2RestatedAnnual report
「Following the application of the Revenue Recognition Standard and other standards, in the consolidated balance sheet for the previous consolidated fiscal year, part of 'notes and accounts receivable—trade,' presented under 'current assets,' has been included and presented as 'contract assets' from the first-quarter consolidated accounting period. The opening balance of retained earnings for the current fiscal year increased by ¥15 million.」
The Company continues to disclose in the second quarter the presentation of contract assets based on the Revenue Recognition Standard applied from the first quarter and the ¥15 million increase in the opening balance of retained earnings. - FY2022-Q1First statedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the 'Revenue Recognition Standard') and other standards from the beginning of the current first-quarter consolidated accounting period. 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 applied the Revenue Recognition Standard and other standards from the beginning of the current first-quarter consolidated accounting period and changed to a method of recognizing revenue based on when performance obligations are satisfied or on the progress toward satisfaction. The application increased the opening balance of retained earnings by ¥15 million, with only a minor impact on profit or loss.