Application of the Accounting Standard for Revenue Recognition for the Fiscal Year Ending March 2022
First written in FY2021. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
- FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and the Implementation Guidance on the Accounting Standard for Revenue Recognition (Implementation Guidance No. 30, revised 26 March 2021) have been 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 Accounting Standard for Revenue Recognition and related standards, which had been scheduled for application in the previous fiscal year, began to be applied on 1 April 2021. Accounting treatments for transactions as an agent, exchange transactions, transactions involving the provision of materials at cost, and LPG meter-reading-date-based recognition, among others, have been changed. - FY2021First statedAnnual report
「Under the application of the Accounting Standard for Revenue Recognition and related standards, the cumulative effect is expected to be reflected in net assets at the beginning of the next consolidated fiscal year, increasing the beginning balance of retained earnings by ¥2,497 million.」
The Accounting Standard for Revenue Recognition and related standards were scheduled to be applied from the beginning of the fiscal year ended March 2022, with the cumulative effect on the beginning balance of retained earnings estimated at ¥2,497 million.