Preparation for applying the accounting standard for revenue recognition
First written in FY2021. 2 of 5 entries say "Restated". Latest entry: FY2022.
- FY2022RestatedAnnual report
「As a result, sales and cost of sales for the consolidated fiscal year decreased by ¥899 million and ¥961 million, respectively, while operating profit, ordinary profit and profit before income taxes increased by ¥62 million each.」
The company disclosed the annual impact after applying the Accounting Standard for Revenue Recognition, explaining that sales decreased by ¥899 million while each profit measure increased by ¥62 million. - FY2022-Q3RestatedAnnual report
「As a result, sales and cost of sales for the nine months ended the third quarter decreased by ¥533 million and ¥629 million, respectively, while operating profit, ordinary profit and profit before income taxes increased by ¥95 million each.」
The company states that, as the cumulative impact of applying the Accounting Standard for Revenue Recognition, sales decreased by ¥533 million and cost of sales by ¥629 million, while each profit measure increased by ¥95 million. It continues to expect the impact on profit to be almost eliminated in the full-year results. - FY2022-Q2ReframedAnnual report
「The change in accounting policy arising from the application of the Accounting Standard for Revenue Recognition and other standards reduced sales and each profit measure. Similar effects will continue in future quarters, but the company expects the impact on each profit measure for the full fiscal year to be almost eliminated.」
The focus of the explanation has shifted from preparing for and completing application of the accounting standard to managing its impact on quarterly results after application. For the six months ended the second quarter, sales decreased by ¥583 million, while operating profit, ordinary profit and profit before income taxes decreased by ¥85 million each. The company expects the impact on profit to be almost eliminated in the full-year results. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards were applied from the beginning of the first quarter of the current fiscal year. 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 company applied the Accounting Standard for Revenue Recognition and other standards, which had been under preparation in the previous fiscal year, from 1 April 2021. As a result, sales and operating profit and other income decreased by ¥358 million and ¥83 million, respectively, in the first quarter, while the opening balance of retained earnings increased by ¥227 million. - FY2021First statedAnnual report
「The changes will apply from the beginning of the fiscal year ending March 2022. The application of the Accounting Standard for Revenue Recognition and other standards is expected to result in the cumulative effect being reflected in net assets at the beginning of the following consolidated fiscal year, increasing the opening balance of retained earnings by ¥228 million.」
The company planned to apply the Accounting Standard for Revenue Recognition and other standards from the beginning of the fiscal year ending March 2022, and disclosed an expected ¥228 million increase in the opening balance of retained earnings as a result of the application.