Planned application of the Accounting Standard for Revenue Recognition for the fiscal year ending March 2022
First written in FY2019. 1 of 3 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q3.
- FY2022-Q3RestatedAnnual report
「As a result, during the cumulative third quarter of the current consolidated fiscal year, net sales and cost of sales decreased by ¥617.904 million and ¥617.102 million, respectively, while gross profit, operating profit and non-operating expenses each decreased by ¥802 thousand. Ordinary profit, profit before income taxes and profit attributable to owners of the parent were unaffected.」
The specific cumulative impact of the revenue recognition accounting standards already applied on net sales and other items was disclosed. No impact on ordinary profit or below was reported. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were adopted from the beginning of the current first quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services is transferred to the customer.」
The revenue recognition accounting standards and related guidance, which had been scheduled for application from the beginning of the fiscal year ending March 2022, were actually applied from the beginning of the first quarter of the current consolidated fiscal year. Net sales decreased by ¥230.478 million, but there was no impact on ordinary profit or other profit measures. - FY2019First statedAnnual report
「The Accounting Standard for Revenue Recognition and the Implementation Guidance on Accounting Standard for Revenue Recognition are scheduled to be applied from the beginning of the fiscal year ending March 2022. The amount of the impact is being assessed as of the preparation of these consolidated financial statements.」
The company first disclosed that the new revenue recognition accounting standards were scheduled to be applied from the beginning of the fiscal year ending March 2022 and that the impact on the financial statements was being assessed.