Refinement of the Provision for Returns
First written in FY2019. 3 of 5 entries say "Restated". Latest entry: FY2024.
1 other company's latest entry also says "Restated".
- FY2024RestatedAnnual report
「For products expected to be returned, in accordance with the provisions on variable consideration, revenue is not recognized at the time of sale, a refund liability is recognized at the amount of consideration received or receivable for the products, and a return asset is recognized at the cost of the products expected to be recovered when the refund liability is settled.」
The company continues to change from its previous treatment using a provision for returns to a method recognizing a refund liability and a return asset. - FY2022-Q3RestatedAnnual report
「Accordingly, for sales with a right of return, the company previously recognized a provision for returns based on the amount equivalent to gross profit. For products expected to be returned, however, the company has changed its method in accordance with the provisions on variable consideration: revenue is not recognized at the time of sale, a refund liability is recognized at the amount of consideration received or receivable for the products, and a return asset is recognized at the cost of the products expected to be recovered when the refund liability is settled.」
The company continues to change from its previous treatment using a provision for returns to a method recognizing a refund liability and a return asset. - FY2022-Q2RestatedAnnual report
「Accordingly, for sales with a right of return, the company previously recognized a provision for returns based on the amount equivalent to gross profit. For products expected to be returned, however, the company has changed its method in accordance with the provisions on variable consideration: revenue is not recognized at the time of sale, a refund liability is recognized at the amount of consideration received or receivable for the products, and a return asset is recognized at the cost of the products expected to be recovered when the refund liability is settled.」
The company continues to apply the change from the previous treatment using a provision for returns to a method recognizing a refund liability and a return asset. - FY2022-Q1ReframedAnnual report
「Accordingly, for sales with a right of return, the company previously recognized a provision for returns based on the amount equivalent to gross profit. For products expected to be returned, however, the company has changed its method in accordance with the provisions on variable consideration: revenue is not recognized at the time of sale, a refund liability is recognized at the amount of consideration received or receivable for the products, and a return asset is recognized at the cost of the products expected to be recovered when the refund liability is settled.」
The company changed from its previous method of calculating a provision for returns to a revenue recognition method under which a refund liability and a return asset are recognized for products expected to be returned. - FY2019First statedAnnual report
「The company has changed its method to calculate the required amount based on the estimated amount of returns, calculated using more detailed sales and returns performance data by customer and individual product than before. As a result, the provision for returns decreased by ¥84.700 million compared with the previous method.」
The company changed its estimation method to use more detailed returns performance data by customer and individual product, reducing the provision for returns by ¥84.700 million.