Deducting Proceeds from Scrap Sales from Manufacturing Costs and Improving Cost Management Accuracy
First written in FY2017-Q1. 3 of 5 entries say "Restated". Latest entry: FY2018.
0 other companies' latest entry also says "Dropped".
- FY2018DroppedAnnual reportThe accounting policies and notes in this filing do not mention the change to deduct gains on the sale of scrap from the cost of production.
- FY2017RestatedAnnual report
「Beginning with the current consolidated fiscal year, the company changed its method of accounting for gains on the sale of scrap, which had previously been recorded as non-operating income, and now deducts them from the cost of production. The change was prompted by the increasing materiality of scrap sales and a review of the cost management method to improve its accuracy. Accordingly, proceeds from the sale of used printing plates, previously recorded as non-operating income as gains on the sale of scrap, are now deducted from the cost of production.」
The change in accounting treatment to deduct gains on the sale of scrap from the cost of production, aimed at improving the accuracy of cost management, continued to be disclosed in the full-year filing. - FY2017-Q3RestatedAnnual report
「Beginning with the first quarter of the consolidated fiscal year, the company changed its method of accounting for gains on the sale of scrap, which had previously been recorded as non-operating income, and now deducts them from the cost of production. The change was prompted by the increasing materiality of scrap sales and a review of the cost management method to improve its accuracy. Accordingly, proceeds from the sale of used printing plates, previously recorded as non-operating income as gains on the sale of scrap, are now deducted from the cost of production. As a result, compared with before retrospective application, cost of sales for the nine months ended 31 December of the previous fiscal year decreased by ¥18.859 million, while gross profit increased by the same amount.」
The accounting policy of deducting gains on the sale of scrap from the cost of production continued to be disclosed, along with the impact of retrospective application on cost of sales and gross profit for the previous third quarter. - FY2017-Q2RestatedAnnual report
「Beginning with the first quarter of the consolidated fiscal year, the company changed its method of accounting for gains on the sale of scrap, which had previously been recorded as non-operating income, and now deducts them from the cost of production. The change was prompted by the increasing materiality of scrap sales and a review of the cost management method to improve its accuracy. Accordingly, proceeds from the sale of used printing plates, previously recorded as non-operating income as gains on the sale of scrap, are now deducted from the cost of production.」
The accounting policy of deducting gains on the sale of scrap from the cost of production continued to be disclosed in the second-quarter notes and segment information. - FY2017-Q1First statedAnnual report
「Beginning with the first quarter of the current consolidated fiscal year, the company changed its method of accounting for gains on the sale of scrap, which had previously been recorded as non-operating income, and now deducts them from the cost of production. The change was prompted by the increasing materiality of scrap sales and a review of the cost management method to improve its accuracy. Accordingly, proceeds from the sale of used printing plates, previously recorded as non-operating income as gains on the sale of scrap, are now deducted from the cost of production.」
The accounting treatment of gains on the sale of scrap was changed so that proceeds from the sale of used printing plates are deducted from the cost of production. The company cited its review of cost management methods to improve accuracy as the background to the change.