Sumitomo Realty & Development (8830) · InitiativeAchieved
Change to recognizing all real estate brokerage commissions as revenue upon delivery
First written in FY2020-Q1. 1 of 2 entries say "Achieved", first in FY2020. Latest entry: FY2020.
2entries
2years
0from disclosures
How it moved
Same theme, other companies
Changes in the recognition of principal-versus-agent transactions and membership fees upon adoption of the Revenue Recognition StandardA theme 18 companies write about · 9 as a headwind · 1 as a tailwind
1 other company's latest entry also says "Achieved".
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Showing 14 of the 18 companies compared. The sentences above are computed from all 18.Full recordFilings, disclosures and news, newest first
- FY2020AchievedAnnual report
「From the current consolidated fiscal year, the company has changed to a method of recognizing the full amount of brokerage commissions as revenue when delivery of the real estate is completed.」
For brokerage commissions at Sumitomo Real Estate Sales, the company changed from recognizing revenue when commissions were received after contract execution to recognizing the full amount upon completion of delivery, and applied the change retrospectively to the previous consolidated fiscal year. - FY2020-Q1First statedAnnual report
「From the first quarter of the current consolidated fiscal year, the company has changed to a method of recognizing the full amount of brokerage commissions as revenue when delivery of the real estate is completed.」
Following the delisting of Sumitomo Real Estate Sales, the company changed its recognition method to align with the group’s revenue recognition policy, from recognizing commissions when received after contract execution to recognizing the full amount upon completion of delivery, and applied the change retrospectively. Operating revenue and other items for the first quarter of the previous fiscal year increased by ¥496 million compared with the previous method.