Preparing to apply the accounting standard for revenue recognition
First written in FY2020. 1 of 6 entries say "Restated". Latest entry: FY2022.
- FY2022Discloses the impact of full-year adoption of the revenue recognition accounting standardAnnual report
「As a result, for the current consolidated fiscal year, net sales decreased by ¥84.497 million, cost of sales decreased by ¥18.025 million, and operating profit, ordinary profit and profit before income taxes decreased by ¥47.045 million each. The opening balance of retained earnings also decreased by ¥33.969 million.」
For the Revenue Recognition Standard applied from the beginning of the fiscal year ending August 2022, the full-year impact on net sales, profit and the opening balance of retained earnings was disclosed. - FY2022-Q3Impact of application disclosed for the nine months ended the third quarterAnnual report
「As a result, for the nine months ended the third quarter of the current consolidated fiscal year, net sales decreased by ¥139.200 million, cost of sales decreased by ¥83.189 million, and operating profit, ordinary profit and quarterly profit before income taxes decreased by ¥35.702 million each. The opening balance of retained earnings also decreased by ¥33.969 million.」
For the Revenue Recognition Standard applied from the beginning of the first quarter of the current consolidated fiscal year, the impact on net sales, profit and the opening balance of retained earnings was disclosed cumulatively for the nine months ended the third quarter. - FY2022-Q2Cumulative disclosure of the impact of applicationAnnual report
「As a result, for the six months ended the second quarter of the current consolidated fiscal year, net sales decreased by ¥155.399 million, cost of sales decreased by ¥92.521 million, and operating profit, ordinary profit and quarterly profit before income taxes decreased by ¥49.953 million each. The opening balance of retained earnings also decreased by ¥33.969 million.」
For the Revenue Recognition Standard applied from the beginning of the first quarter of the current consolidated fiscal year, the cumulative impact on net sales, profit and the opening balance of retained earnings for the six months ended the second quarter was disclosed. - FY2022-Q1AchievedAnnual report
「We 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 first quarter of the current consolidated fiscal year. Accordingly, 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 other standards, which had been scheduled for application from the beginning of the fiscal year ending August 2022, were actually applied from the beginning of the first quarter of the current consolidated fiscal year. As a result of the application, net sales decreased by ¥110.745 million, while operating profit, ordinary profit and quarterly profit before income taxes decreased by ¥34.407 million each. - FY2021RestatedAnnual report
「The company will apply the standard from the beginning of the fiscal year ending August 2022.」
The plan to apply the Accounting Standard for Revenue Recognition and other standards from the beginning of the fiscal year ending August 2022 remained unchanged. - FY2020First statedAnnual report
「Scheduled date for applying the Accounting Standard for Revenue Recognition and other standards The standards will be applied from the beginning of the fiscal year ending August 2022.」
It was first explicitly stated that the Accounting Standard for Revenue Recognition and other standards were scheduled to be applied from the beginning of the fiscal year ending August 2022. The amount of the impact was stated to be under evaluation at this time.