Application of the revenue recognition accounting standard from the fiscal year ending February 2023
First written in FY2021. 1 of 4 entries say "Achieved", first in FY2023-Q2. Latest entry: FY2023.
- FY2023Full-Year Impact ConfirmedAnnual report
「As a result, the cumulative effect was reflected in net assets at the beginning of the current consolidated fiscal year, reducing the opening balance of retained earnings by ¥207 million. Compared with the previous method, net sales for the current consolidated fiscal year decreased by ¥53,228 million, cost of sales decreased by ¥53,173 million, selling, general and administrative expenses decreased by ¥52 million, and non-operating income decreased by ¥3 million.」
The full-year impact of applying the Revenue Recognition Accounting Standard was updated. Retained earnings at the beginning of the fiscal year decreased by ¥207 million, and net sales decreased by ¥53,228 million compared with the previous method. - FY2023-Q3Third-quarter cumulative update on the impact of applicationAnnual report
「The application of the revenue recognition accounting standard and related guidance follows the transitional treatment specified in the proviso to Paragraph 84 of the revenue recognition accounting standard. The cumulative effect of retrospectively applying the new accounting policy to periods before the beginning of the first quarter of the current consolidated fiscal year was added to or deducted from retained earnings at the beginning of that quarter, and the new accounting policy was applied from that opening balance.」
Application of the Revenue Recognition Accounting Standard continued. For the cumulative third quarter, net sales decreased by ¥36,933 million compared with the previous method, while retained earnings at the beginning of the fiscal year decreased by ¥207 million. - FY2023-Q2AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the "Revenue Recognition Accounting Standard") and other standards 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 transfers to the customer.」
Application of the Revenue Recognition Accounting Standard and related standards began from the start of the first quarter of the fiscal year ending February 2023. The changes also introduced net presentation for transactions as an agent, contract liabilities related to points and revenue recognition for the unused portion of the company's own gift certificates. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition and the Guidance on Applying the Accounting Standard for Revenue Recognition were scheduled to be applied from the beginning of the fiscal year ending February 2023. The impact was being assessed at the time the consolidated financial statements were prepared.」
The company initially disclosed that it planned to apply the new accounting standard for revenue recognition from the beginning of the fiscal year ending February 2023 and was assessing the impact.