Preparing to Adopt the New Revenue Recognition Standard
First written in FY2020. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
- FY2022-Q1AchievedAnnual report
「We applied the Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards from the beginning of the first quarter of the current consolidated fiscal year, and now recognize revenue when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The company applied the Revenue Recognition Accounting Standard from the beginning of the first quarter of the fiscal year, rather than from the beginning of the fiscal year ending March 2022 as previously scheduled. It also disclosed that, compared with the previous standard, the application would reduce net sales by ¥36,501 thousand and operating income by ¥8,242 thousand. - FY2020First statedAnnual report
「(2) Scheduled date of application: The standards are scheduled to be applied from the beginning of the fiscal year ending March 2022. (3) Effect of applying the accounting standards and other requirements: The amount of the impact is currently being assessed as of the date of preparation of the consolidated financial statements.」
The new revenue recognition accounting standard is scheduled to be applied from the beginning of the fiscal year ending March 2022, and the amount of its impact is currently being assessed.