Preparations for Adopting the Revenue Recognition and Fair Value Measurement Accounting Standards, among Others
First written in FY2021. 1 of 5 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022.
12 other companies' latest entry also says "Other".
- FY2022Updated the Full-Year Impact of AdoptionAnnual report
「As a result, in the consolidated income statement for the fiscal year, revenue decreased by ¥192 million, cost of sales decreased by ¥20 million and selling, general and administrative expenses decreased by ¥11 million, reducing operating income by ¥160 million. However, because non-operating expenses decreased by ¥156 million, the impact on ordinary income and profit before income taxes was immaterial.」
The full-year impact of applying the revenue recognition accounting standard was disclosed, showing a negative impact on revenue and operating income and a minor impact on ordinary income. - FY2022-Q3Impact of adoption updatedAnnual report
「As a result, revenue for the nine months ended the current third quarter decreased by ¥140 million. Although operating income decreased by ¥115 million as cost of sales decreased by ¥16 million and selling, general and administrative expenses decreased by ¥8 million, the impact on ordinary income and income before income taxes for the quarter was minor because non-operating expenses decreased by ¥118 million.」
The impact of applying the revenue recognition accounting standard for the nine months ended the third quarter was updated. Revenue decreased by ¥140 million and operating income by ¥115 million, while the impact on ordinary income was described as minor. - FY2022-Q2Impact of adoption updatedAnnual report
「As a result, revenue for the six months ended the current second quarter decreased by ¥89 million. Although operating income decreased by ¥75 million as cost of sales decreased by ¥7 million and selling, general and administrative expenses decreased by ¥6 million, the impact on ordinary income and income before income taxes for the quarter was minor because non-operating expenses decreased by ¥77 million.」
The impact of applying the revenue recognition accounting standard for the first half was updated. Revenue decreased by ¥89 million and operating income by ¥75 million, while the impact on ordinary income was described as minor. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were applied from the beginning of the current first-quarter consolidated accounting 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 and related standards were also applied from the beginning of the current first-quarter consolidated accounting period」
The revenue recognition accounting standards and the fair value measurement accounting standards moved from the preparation stage to actual application beginning on 1 April 2021. - FY2021First statedAnnual report
「Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020); Guidance on Accounting Standard for Revenue Recognition (ASBJ Guidance No. 30, 26 March 2021)」
The new accounting standards on revenue recognition and related standards were scheduled to be applied from the beginning of the fiscal year ending March 2022, and the company was assessing the impact. The same planned effective date was also stated for the accounting standards on fair value measurement and related standards.