Preparing to apply the accounting standard for revenue recognition
First written in FY2021. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
6 other companies' latest entry also says "Achieved".
- FY2022-Q1AchievedAnnual report
「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 were applied 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 revenue recognition accounting standards and related guidance, which had been described in the previous fiscal year as being under preparation for adoption, were actually applied from the beginning of the first quarter of the current consolidated fiscal year. Specific accounting treatments, including net presentation for agent transactions, also began. - FY2021First statedAnnual report
「“Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 31 March 2020), “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ Guidance No. 30, 26 March 2021). “The standards are scheduled to be applied from the beginning of the fiscal year ending March 2022.” “Revenue is recognized by applying the following five steps.” “The amount of the impact is being assessed as of the preparation of these consolidated financial statements.”」
It stated that the new accounting standards for revenue recognition were scheduled to be applied from the beginning of the fiscal year ending March 2022, and described the five-step recognition process, including identifying contracts, identifying performance obligations and determining the transaction price. It also stated that the impact was being assessed.