Preparing to Apply New Accounting Standards for Revenue Recognition and Fair Value Measurement
First written in FY2020. 1 of 3 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q3.
6 other companies' latest entry also says "Other".
- FY2022-Q3Cumulative update of the impact of applying the new accounting standardsAnnual report
「As a result, sales for the cumulative third quarter under review decreased by ¥42,595 thousand, cost of sales decreased by ¥27,859 thousand, operating loss and ordinary loss each increased by ¥8,144 thousand, and quarterly net income before taxes and other adjustments decreased by ¥8,144 thousand. The opening balance of retained earnings also decreased by ¥5,682 thousand.」
The cumulative impact of adopting the revenue recognition standard disclosed figures including a ¥42,595 thousand decrease in sales and an ¥8,144 thousand increase in operating loss and ordinary loss. - FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition and related standards were adopted from the beginning of the first quarter of the fiscal year under review, and 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 transfers to the customer. / The Accounting Standard for Fair Value Measurement and related standards were adopted from the beginning of the first quarter of the fiscal year under review, and the new accounting policies prescribed by the fair value measurement standards and related standards are being applied prospectively.」
The revenue recognition and fair value measurement standards presented in the previous fiscal year in preparation for adoption have been applied in practice since 1 April 2021. The adoption of the revenue recognition standard reduced sales by ¥5,721 thousand and the opening balance of retained earnings by ¥5,682 thousand. - FY2020First statedAnnual report
「Scheduled adoption date for the Accounting Standard for Revenue Recognition and related standards To be adopted from the beginning of the fiscal year ending March 2022. / Scheduled adoption date for the Accounting Standard for Fair Value Measurement and related standards To be adopted from the beginning of the fiscal year ending March 2022.」
The company plans to adopt new standards concerning revenue recognition, fair value measurement, inventory valuation, financial instruments and other matters from the beginning of the fiscal year ending March 2022, with the impact amount under evaluation or undetermined.