Application of the Accounting Standard for Revenue Recognition and Treatment of Points Programs as Performance Obligations
First written in FY2023-Q1. 2 of 3 entries say "Restated". Latest entry: FY2023.
4 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「The same method is also applied to points that began to be issued through the company's own "kutsu.com" app in December of the current consolidated fiscal year.」
Under the Revenue Recognition Standard, the company has continued its accounting policy of treating points in its own "kutsu.com" app as a separate performance obligation, and has applied it to the points introduced in December. - FY2023-Q2RestatedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020), among others, was 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 company has continued to apply the Revenue Recognition Standard and its accounting policy of treating customer points as a separate performance obligation. - FY2023-Q1First statedAnnual report
「The company applied the Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and other related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized at the amount expected to be received in exchange for the goods or services when control of the promised goods or services is transferred to the customer. Points awarded in connection with customer purchases, for which the required amount based on expected future usage had previously been recorded as selling, general and administrative expenses, are now identified as a separate performance obligation from the sale to the customer. After allocating the consideration received from the customer to that performance obligation, revenue is recognized when the customer redeems the points.」
The company applied the Revenue Recognition Standard from 1 March 2022 and changed its method of accounting for points, recognizing them as a separate performance obligation rather than recording them in selling, general and administrative expenses. The company stated that the impact on profit or loss and retained earnings at the beginning of the period was immaterial.