Application of the revenue-recognition accounting standard from 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 other standards were adopted from the beginning of the current first quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for 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 adoption from FY2022, were applied from the beginning of the first quarter of the current fiscal year. Net sales and selling, general and administrative expenses each decreased by ¥120 million, with no impact on operating income or other profit figures. - FY2021First statedAnnual report
「Upon applying the Accounting Standard for Revenue Recognition and related standards, certain expenses previously recorded as selling, general and administrative expenses are expected to be deducted from net sales. The opening balance of retained earnings is not expected to be affected.」
The company indicated that it plans to apply the Accounting Standard for Revenue Recognition and related standards from the beginning of FY2022, explaining that certain expenses are expected to be deducted from net sales for presentation purposes.