Net Recognition of Agent Transactions Following the Application of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 3 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
5 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, compared with the previous accounting treatment, net sales and cost of sales for the fiscal year ended decreased by ¥71 million, but operating income, ordinary income and net income before income taxes were unaffected. There was also no impact on the opening balance of retained earnings.」
The Company disclosed that, for the full year, the adoption of the revenue recognition standard reduced net sales and cost of sales by ¥71 million, with no impact on profit or opening retained earnings. - FY2022-Q3AdvancedAnnual report
「As a result, compared with the previous accounting treatment, net sales and cost of sales for the cumulative third quarter ended decreased by ¥59.183 million, but operating income, ordinary income and quarterly net income before income taxes were unaffected. There was also no impact on the opening balance of retained earnings.」
The Company disclosed that, following the adoption of the revenue recognition standard, the impact of net presentation for agent transactions on net sales and cost of sales for the cumulative period was ¥59.183 million, with no impact on profit. - FY2022-Q2AdvancedAnnual report
「As a result, compared with the previous accounting treatment, net sales and cost of sales for the cumulative second quarter ended decreased by ¥47.183 million, but operating income, ordinary income and quarterly net income before income taxes were unaffected.」
The Company specifically disclosed the impact of net presentation for agent transactions following the adoption of the revenue recognition standard on net sales and cost of sales for the cumulative second quarter ended, and that there was no impact on profit. - FY2022-Q1First statedAnnual report
「The Company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current fiscal year, and recognizes revenue 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. Accordingly, for certain transactions in the Professional Services business that previously required outsourcing, revenue was recognized at the gross amount of consideration received from customers. For transactions in which the Company's role in providing goods or services to customers qualifies as that of an agent, the Company has changed the method of recognizing revenue to a net amount, calculated by deducting amounts paid for outsourcing and other costs from the amount received from customers.」
Following the adoption of the revenue recognition standard, revenue from certain Professional Services transactions qualifying as agent transactions was changed from gross presentation to net presentation after deducting outsourcing and other costs.