Changes to revenue presentation and recognition methods resulting from the application of the Revenue Recognition Accounting Standard
First written in FY2023-Q1. 3 of 4 entries say "Restated". Latest entry: FY2023.
16 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「As a result, for the current consolidated fiscal year, net sales decreased by ¥228 million, cost of sales decreased by ¥111 million, and selling, general and administrative expenses decreased by ¥117 million. There was no impact on the opening balance of retained earnings.」
The company continued to apply the revenue recognition accounting standards and other related standards adopted from the beginning of the fiscal year and disclosed their impact on presentation for the full year. - FY2023-Q3RestatedAnnual report
「As a result, for the nine-month period ended the third quarter of the current fiscal year, net sales increased by ¥166 million, cost of sales increased by ¥250 million, and selling, general and administrative expenses decreased by ¥84 million. There was no impact on the opening balance of retained earnings.」
The company continued to apply the revenue recognition accounting standards and other related standards adopted from the first quarter and disclosed their impact on presentation for the nine-month period. There was no impact on the opening balance of retained earnings. - FY2023-Q2RestatedAnnual report
「As a result, for the six-month period ended the second quarter of the current fiscal year, net sales increased by ¥16 million, cost of sales increased by ¥73 million, and selling, general and administrative expenses decreased by ¥57 million. There was no impact on the opening balance of retained earnings.」
The company continued to apply the revenue recognition accounting standards and other related standards adopted from the first quarter, and disclosed their impact on presentation for the six-month period as a ¥16 million increase in net sales, a ¥73 million increase in cost of sales, and a ¥57 million decrease in selling, general and administrative expenses. - FY2023-Q1First statedAnnual report
「The Company has applied the “Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 31 March 2020) and the “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ Guidance No. 30, 26 March 2021) (collectively, the “Revenue Recognition Accounting Standards, etc.”) from the beginning of the first quarter of the current 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.」
The company adopted the revenue recognition accounting standards and other related standards from the beginning of the quarter and changed its accounting treatment for transactions with a right of return, principal-versus-agent transactions, and consideration payable to customers. As a result of the adoption, net sales increased by ¥221 million, cost of sales increased by ¥253 million, and selling, general and administrative expenses decreased by ¥31 million.