Preparing to Adopt the New Revenue Recognition Standard
First written in FY2018. 2 of 6 entries say "Restated". Latest entry: FY2022-Q3.
- FY2022-Q3Update on the Impact of AdoptionAnnual report
「As a result, compared with the previous accounting treatment, net sales for the nine months ended the third quarter of the current consolidated fiscal year decreased by ¥16,409 million, cost of sales decreased by ¥16,413 million, and operating income, ordinary income and profit before income taxes each increased by ¥3 million. In addition, the opening balance of retained earnings decreased by ¥26 million.」
The disclosed impact of the applied revenue recognition accounting standard on net sales, cost of sales, profit and opening retained earnings for the nine months ended the third quarter has been updated. - FY2022-Q2Disclosure of the impact of adoptionAnnual report
「As a result, compared with the previous accounting treatment, net sales for the six months ended the second quarter of the current consolidated fiscal year decreased by ¥10,343 million, cost of sales decreased by ¥10,346 million, and operating income, ordinary income and profit before income taxes each increased by ¥2 million. In addition, the opening balance of retained earnings decreased by ¥26 million.」
The impact of the applied revenue recognition accounting standard on net sales, cost of sales, profit and opening retained earnings for the six months ended the second quarter is disclosed. - FY2022-Q1AchievedAnnual report
「We applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and other relevant standards from the beginning of the first quarter of the current consolidated fiscal year. Revenue is now recognized at the amount expected to be received in exchange for the promised goods or services when control of those goods or services transfers to the customer.」
The revenue recognition accounting standard and other standards scheduled for application from the beginning of the fiscal year ending March 2022 were actually applied from the beginning of the first quarter of the current consolidated fiscal year. As a result, first-quarter net sales decreased by ¥4,996 million, while operating income and other items each increased by ¥7 million. - FY2021RestatedAnnual report
「The Accounting Standard for Revenue Recognition and other standards will be applied from the beginning of the fiscal year ending March 2022. / The impact of applying the Accounting Standard for Revenue Recognition and other standards on the consolidated financial statements is currently being assessed.」
The new revenue recognition accounting standard is scheduled to be applied from the beginning of the fiscal year ending March 2022, and the impact continues to be assessed. - FY2019RestatedAnnual report
「The Accounting Standard for Revenue Recognition and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2022. / Revenue is recognized by applying the following 5 steps.」
The new revenue recognition accounting standard is scheduled to be applied from the beginning of the fiscal year ending March 2022, and the impact continues to be assessed. - FY2018First statedAnnual report
「The Accounting Standard for Revenue Recognition and other standards are scheduled to be applied from the beginning of the fiscal year ending March 2022. / Revenue is recognized by applying the following 5 steps. Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations. Step 5: Recognize revenue when, or as, the performance obligations are satisfied.」
The new revenue recognition accounting standard is scheduled to be applied from the beginning of the fiscal year ending March 2022, and the impact is currently being assessed.