Application of Expected Credit Loss Accounting at U.S. Subsidiaries
First written in FY2024-Q1. 1 of 2 entries say "Restated". Latest entry: FY2024-Q3.
2 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「Certain overseas consolidated subsidiaries applying U.S. GAAP have adopted ASU 2016-13, “Financial Instruments—Credit Losses,” from the beginning of the first quarter of the current consolidated fiscal year. As a result, the subsidiaries introduced the expected credit loss concept for financial assets in place of the previous incurred loss model, estimating lifetime expected credit losses at initial recognition and recognizing an allowance.」
Certain overseas consolidated subsidiaries applying U.S. GAAP continue to apply the accounting treatment changed from the incurred loss model to the expected credit loss model. - FY2024-Q1First statedAnnual report
「Certain overseas consolidated subsidiaries applying U.S. GAAP have adopted ASU 2016-13, “Financial Instruments—Credit Losses,” from the beginning of the first quarter of the current consolidated fiscal year. As a result, the subsidiaries introduced the expected credit loss concept for financial assets in place of the previous incurred loss model, estimating lifetime expected credit losses at initial recognition and recognizing an allowance.」
Certain overseas consolidated subsidiaries applying U.S. GAAP changed their accounting from the incurred loss model to the expected credit loss model. The impact on the quarterly consolidated financial statements was described as immaterial.