Change in the revenue recognition method for installment sales transactions from the straight-line method to the interest method
First written in FY2022-Q1. 2 of 4 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2022.
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- FY2022AdvancedAnnual report
「The straight-line method had previously been used to recognize the interest component, but the interest method has been adopted from the current fiscal year.」
The change from the straight-line method to the interest method against a backdrop of increasing installment sales transactions was applied to the consolidated financial statements for the current fiscal year, and the retrospective impact was also disclosed. - FY2022-Q3RestatedAnnual report
「The straight-line method had previously been used to recognize the interest component, but the interest method has been adopted from the first quarter of the fiscal year. This change was made because, as installment sales transactions have been increasing, we determined that adopting the interest method, which is the standard method, would more appropriately reflect the earnings position.」
The policy of recognizing the interest component using the interest method has been continued against a backdrop of increasing installment sales transactions. Retrospective application to the previous fiscal year and other periods has also continued to be disclosed. - FY2022-Q2AdvancedAnnual report
「The straight-line method had previously been used to recognize the interest component, but the interest method has been adopted from the interim consolidated accounting period. This change was made because, as installment sales transactions have been increasing, we determined that adopting the interest method, which is the standard method, would more appropriately reflect the earnings position.」
Against a backdrop of increasing installment sales transactions, the change in the method of recognizing the interest component from the straight-line method to the interest method was applied, with retrospective application to the previous interim period and previous fiscal year and the impact on earnings also disclosed. - FY2022-Q1First statedAnnual report
「The straight-line method had previously been used to recognize the interest component, but the interest method has been adopted from the first quarter of the current fiscal year. This change was made because, as installment sales transactions have been increasing, we determined that adopting the interest method, which is the standard method, would more appropriately reflect the earnings position.」
This is the first disclosure that 南都リース株式会社 changed the method of recognizing the interest component for installment sales transactions from the straight-line method to the interest method. The change is explained as being intended to more appropriately reflect the earnings position against a backdrop of increasing installment sales transactions.