Planned Adoption of the Revenue Recognition and Fair Value Measurement Standards
First written in FY2021. 1 of 3 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q2.
126 other companies' latest entry also says "Restated".
- FY2022-Q2RestatedAnnual report
「The application of the Accounting Standard for Revenue Recognition and related standards follows the transitional treatment prescribed in the proviso to paragraph 84 of the standard. The cumulative effect of retrospective application of the new accounting policy before the beginning of the first quarter of the current consolidated fiscal year was adjusted to retained earnings at the beginning of the first quarter, and the new accounting policy was applied from that opening balance. As a result, there was no impact on profit or loss for the cumulative second quarter of the current consolidated fiscal year.」
The Company continued applying the Accounting Standard for Revenue Recognition and stated that there was no impact on profit or loss for the cumulative second quarter or on retained earnings at the beginning of the period. Regarding the Accounting Standard for Fair Value Measurement, it also disclosed that the valuation method for shares had been changed from the average price during the month before the fiscal year-end closing date to the market price on the fiscal year-end closing date. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020, hereinafter the "Revenue Recognition Standard") and related standards were adopted from the beginning of the current first quarter of the consolidated fiscal period. 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 Accounting Standard for Fair Value Measurement (ASBJ Statement No. 30, 4 July 2019, hereinafter the "Fair Value Measurement Standard") and related standards were adopted from the beginning of the current first quarter of the consolidated fiscal period」
The Accounting Standard for Revenue Recognition, the Accounting Standard for Fair Value Measurement and related standards, which had been scheduled for adoption in the previous fiscal year, began to be applied on 1 April 2021. For revenue recognition, the alternative treatment of recognizing revenue at shipment for ordinary domestic sales periods was also applied. - FY2021First statedAnnual report
「The standard was scheduled to be applied from the beginning of the fiscal year ending March 2022.」
The Company stated that the Accounting Standard for Revenue Recognition, the Accounting Standard for Fair Value Measurement and related standards were scheduled to be applied from the beginning of the fiscal year ending March 2022, with the impact still under assessment.