Commencement of recording a provision for customer points
First written in FY2021-Q1. 5 of 7 entries say "Restated". Latest entry: FY2022-Q3.
The whole theme swung hardest in 2021: 1 of 8 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「For points awarded under the Company's own points program based on members' purchase amounts and other factors, the Company previously recorded the amount expected to be used in the future as a provision for points under current liabilities, with provision expenses recorded under selling, general and administrative expenses. The Company has changed its accounting treatment by identifying the points awarded as performance obligations, deducting them from net sales after considering expected future expiries and other factors, and recording a contract liability. Contract liabilities are presented under “Other” within current liabilities.」
The Company continues to apply the treatment under the revenue recognition accounting standard, under which points are treated as performance obligations and deducted from net sales, with a contract liability recorded, rather than using the provision-for-points method. - FY2022-Q2RestatedAnnual report
「For points awarded under the Company's own points program based on members' purchase amounts and other factors, the Company previously recorded the amount expected to be used in the future as a provision for points under current liabilities, with provision expenses recorded under selling, general and administrative expenses. The Company has changed its accounting treatment by identifying the points awarded as performance obligations, deducting them from net sales after considering expected future expiries and other factors, and recording a contract liability.」
The Company continues to apply the treatment under the revenue recognition accounting standard, under which points are treated as performance obligations and deducted from net sales, with a contract liability recorded, rather than using the provision-for-points method. - FY2022-Q1ReframedAnnual report
「For points awarded under the Company's own points program based on members' purchase amounts and other factors, the Company previously recorded the amount expected to be used in the future as a provision for points under current liabilities, with provision expenses recorded under selling, general and administrative expenses. The Company has changed its accounting treatment by identifying the points awarded as performance obligations, deducting them from net sales after considering expected future expiries and other factors, and recording a contract liability.」
The Company changed its accounting treatment from the previous provision-for-points method to treating points as performance obligations under the revenue recognition accounting standard, deducting them from net sales and recording a contract liability. - FY2021RestatedAnnual report
「Change in provision for points (△ indicates a decrease) - 2,993」
The Company continued recording a provision for points, which began in the first quarter, and recorded a change of ¥2,993 thousand for the fiscal year. - FY2021-Q3RestatedAnnual report
「As the accounting treatment for points has become more material, from the first quarter the Company has recorded the estimated amount expected to be used in the future as a provision for points. As a result, operating loss, ordinary loss and quarterly net loss before income taxes each increased by ¥3,028 thousand.」
The Company continued recording a provision for points, which began in the first quarter, and reported the impact on each loss for the cumulative third quarter as ¥3,028 thousand. - FY2021-Q2RestatedAnnual report
「As the accounting treatment for points has become more material, from the first quarter the Company has recorded the estimated amount expected to be used in the future as a provision for points. As a result, operating loss, ordinary loss and quarterly net loss before income taxes each increased by ¥3,542 thousand.」
The Company continued recording a provision for points, which began in the first quarter, and reported the impact on losses for the cumulative second quarter as ¥3,542 thousand. - FY2021-Q1First statedAnnual report
「As the accounting treatment for points has become more material, from the first quarter the Company has recorded the estimated amount expected to be used in the future as a provision for points. As a result, operating loss, ordinary loss and quarterly net loss before income taxes each increased by ¥3,310 thousand.」
As the accounting treatment for points became more material, from the first quarter the Company began recording the estimated amount expected to be used in the future as a provision for points, increasing each loss by ¥3,310 thousand.