Impact of the Revenue Recognition Standard on Sales and Retained Earnings
First written in FY2021-Q1. 4 of 7 entries say "Reframed", first in FY2021-Q2. Latest entry: FY2022-Q3.
- FY2022-Q3RestatedAnnual report
「The company and its domestic consolidated subsidiaries have applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 30 March 2018) and other standards from the beginning of the first quarter of the previous consolidated fiscal year. Accordingly, there is no impact on the quarterly consolidated balance sheet, quarterly consolidated income statement or other financial statements from applying the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards from the beginning of the first quarter of the first quarter of the current consolidated fiscal year. In addition, notes on revenue recognition have been newly included as a result of applying the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other standards.」
The application of the revenue recognition accounting standard and other standards had no impact on the financial statements, and disclosure including new revenue recognition-related notes has continued. - FY2022-Q2RestatedAnnual report
「In addition, the Company has included new notes on revenue recognition as a result of applying the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards.」
The adoption of the revenue recognition accounting standard had no impact on the financial statements, and the company continues to disclose new notes relating to revenue recognition. - FY2022-Q1ReframedAnnual report
「The company and its domestic consolidated subsidiaries have applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 30 March 2018) and related standards from the beginning of the first quarter of the previous consolidated fiscal year. Accordingly, the application of the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and related standards from the beginning of the first quarter of the current consolidated fiscal year had no impact on the quarterly consolidated balance sheet, quarterly consolidated income statement or other statements. In addition, a new note on revenue recognition has been included as a result of applying the Accounting Standard for Revenue Recognition and related standards.」
The disclosure has shifted from organizing the numerical impact of applying the revenue recognition accounting standard, as disclosed in the previous fiscal year, to stating that the current application has no impact on the financial statements and newly including notes on revenue recognition. - FY2021ReframedAnnual report
「As a result, compared with the previous method, revenue for the current consolidated fiscal year increased by ¥2,882 million, cost of sales increased by ¥1,161 million, and selling, general and administrative expenses increased by ¥507 million. Operating profit, ordinary profit and profit before income taxes each increased by ¥1,212 million. The opening balance of retained earnings also decreased by ¥9,506 million.」
The increase in full-year revenue and profit resulting from the application of the revenue recognition accounting standard, as well as the decrease in retained earnings at the beginning of the fiscal year, was disclosed. - FY2021-Q3ReframedAnnual report
「As a result, compared with the previous method, revenue for the nine months ended the third quarter increased by ¥2,224 million, cost of sales increased by ¥522 million, and selling, general and administrative expenses increased by ¥396 million. Operating profit, ordinary profit and profit before income taxes each increased by ¥1,304 million. In addition, the opening balance of retained earnings decreased by ¥9,506 million.」
The increase in cumulative third-quarter revenue and profit resulting from the application of the revenue recognition accounting standard was updated, and the decrease in the opening balance of retained earnings continues to be disclosed. - FY2021-Q2ReframedAnnual report
「As a result, compared with the previous method, net sales for the six-month period ended in the second quarter increased by ¥4,081 million, cost of sales increased by ¥1,778 million, selling, general and administrative expenses increased by ¥356 million, and operating income, ordinary income, and profit before income taxes increased by ¥1,947 million each. The opening balance of retained earnings also decreased by ¥9,506 million.」
The increase in revenue and profit for the cumulative second quarter under the revenue recognition accounting standard was updated, while a decrease in the opening balance of retained earnings continues to be disclosed. - FY2021-Q1First statedAnnual report
「Compared with the previous method, net sales for the first quarter of the consolidated cumulative period increased by ¥2,828 million, cost of sales increased by ¥1,229 million, and selling, general and administrative expenses increased by ¥118 million. Operating profit, ordinary profit, and income before income taxes each increased by ¥1,480 million. The opening balance of retained earnings also decreased by ¥9,506 million.」
First numerical disclosure of the impact of applying the revenue recognition standards on net sales, profit, and opening retained earnings.