Application of the New Revenue Recognition Standard and Uncertainty Regarding the Amount of Its Impact
First written in FY2018. 1 of 4 entries say "Materialised", first in FY2022-Q1. Latest entry: FY2022-Q3.
- FY2022-Q3Cumulative update of the impact of the revenue recognition standardAnnual report
「As a result, net sales for the cumulative third quarter decreased by ¥17,470 thousand, cost of sales decreased by ¥6,227 thousand, and operating profit, ordinary profit and quarterly profit before income taxes each decreased by ¥11,243 thousand. The beginning balance of retained earnings for the fiscal year also decreased by ¥1,745 thousand.」
For the revenue recognition accounting standard applied from the first quarter, the company disclosed a cumulative third-quarter impact of decreases of ¥17,470 thousand in net sales and ¥11,243 thousand in operating profit and related items. - FY2022-Q2Cumulative update of the impact of the revenue recognition standardAnnual report
「As a result, net sales for the cumulative second quarter decreased by ¥14,619 thousand, cost of sales decreased by ¥5,524 thousand, and operating profit, ordinary profit and quarterly profit before income taxes each decreased by ¥9,095 thousand. The beginning balance of retained earnings for the fiscal year also decreased by ¥1,745 thousand.」
For the revenue recognition accounting standard applied from the first quarter, the cumulative second-quarter impact on net sales and profit was updated, showing decreases of ¥14,619 thousand in net sales and ¥9,095 thousand in operating profit and related items. - FY2022-Q1MaterialisedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement No. 29, 31 March 2020) and related standards were applied from the beginning of the current first quarter of the consolidated fiscal year. 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. As a result, net sales for the cumulative first quarter decreased by ¥11,531 thousand, cost of sales decreased by ¥6,639 thousand, and operating profit, ordinary profit and quarterly profit before income taxes each decreased by ¥4,892 thousand. The beginning balance of retained earnings for the fiscal year also decreased by ¥1,745 thousand.」
The revenue recognition accounting standard, previously scheduled for adoption, was applied from the beginning of the current quarter, and its impact on net sales, profit and retained earnings was quantified for the first time. - FY2018First statedAnnual report
「The standard will be applied from the beginning of the fiscal year ending March 2022. The amount of the impact on the consolidated financial statements from applying the Accounting Standard for Revenue Recognition and related standards has not yet been determined.」
The company plans to apply the new revenue recognition standard from the beginning of the fiscal year ending March 2022, while stating that the amount of its impact on the financial statements has not yet been determined.