Adoption of revenue recognition accounting standards
First written in FY2022-Q2. 3 of 4 entries say "Restated". Latest entry: FY2023.
91 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「In principle, because performance obligations under these transactions are satisfied over a period of time, revenue is recognized based on the progress toward satisfying the performance obligation when that progress can be reasonably measured. When the progress of the work cannot be reasonably measured, revenue is recognized based on the cost recovery method for contracts for which the costs incurred are expected to be recoverable.」
The company has continued to apply throughout the full year its revenue recognition policy based on progress after adopting the revenue recognition accounting standard. - FY2022RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the consolidated fiscal year. Revenue is now 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 has continued to apply the revenue recognition accounting standard for the full year. It disclosed that the application increased revenue by ¥3,354 million and operating income and other items by ¥1,316 million, while increasing retained earnings at the beginning of the period by ¥639 million. - FY2022-Q3RestatedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other standards were applied from the beginning of the first quarter of the consolidated fiscal year. Revenue is now 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 has continued to apply the revenue recognition accounting standard and disclosed that, for the cumulative third quarter, revenue increased by ¥7,711 million, cost of sales by ¥4,840 million, and operating income and other items by ¥2,871 million. - FY2022-Q2First statedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the first quarter of the 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.」
For contracts under which performance obligations are satisfied over a period of time, the company changed to a method of recognizing revenue based on estimated progress. For the cumulative second quarter, revenue increased by ¥6,126 million, cost of sales by ¥4,083 million, and operating income and other items by ¥2,042 million, while the opening balance of retained earnings increased by ¥638 million, as disclosed.