Adoption of the Revenue Recognition Standard and Recognition of Customer Points as Contract Liabilities
First written in FY2022-Q1. 4 of 5 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
35 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「The transaction price allocated to the performance obligations relating to points is recorded as contract liabilities on the balance sheet.」
The company continues to use the revenue recognition method under which the performance obligations relating to the loyalty-point program are recorded as contract liabilities. - FY2023RestatedAnnual report
「The transaction price allocated to the performance obligations relating to points is recorded as contract liabilities on the balance sheet.」
Based on the revenue recognition accounting standard, the company continues to record the performance obligations relating to points as contract liabilities. - FY2022RestatedAnnual report
「We have changed the method of recognizing points granted as performance obligations to customers and recording them as contract liabilities.」
The company continues to apply the revenue recognition accounting standard and record points as contract liabilities. - FY2022-Q3RestatedAnnual report
「We have changed the method of recognizing points granted as performance obligations to customers and recording them as contract liabilities.」
The company continues to apply the revenue recognition accounting standard adopted from the first quarter and to record points as contract liabilities. - FY2022-Q1First statedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter the “Revenue Recognition Standard”) and related standards from the beginning of the current first-quarter 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.」
For the loyalty-point program, points granted are recognized as performance obligations to customers, and the presentation has been changed from a provision for points to contract liabilities. There is no impact on profit or loss.