Preparing to Adopt the Accounting Standard for Revenue Recognition
First written in FY2019. 1 of 6 entries say "Advanced", first in FY2021. Latest entry: FY2022.
- FY2022Full-year impact finalizedAnnual report
「As a result, net sales and cost of sales for the fiscal year decreased by ¥9,647 million. The impact on the retained earnings balance at the beginning of the fiscal year was immaterial.」
The company disclosed the impact of adopting the Accounting Standard for Revenue Recognition on full-year FY2022 net sales and cost of sales as ¥9,647 million. - FY2022-Q3Further detail on the impact of adopting the Accounting Standard for Revenue RecognitionAnnual report
「As a result, net sales and cost of sales for the nine months ended the third quarter decreased by ¥7,202 million. The impact on the retained earnings balance at the beginning of the fiscal year was immaterial.」
The company disclosed that adoption of the Accounting Standard for Revenue Recognition reduced net sales and cost of sales for the nine months ended the third quarter by ¥7,202 million. The impact was updated from ¥4,767 million for the six months ended the second quarter. - FY2022-Q2Details of the impact of applying the revenue recognition standardAnnual report
「As a result, net sales and cost of sales for the six months ended the second quarter decreased by ¥4,767 million. The impact on the retained earnings balance at the beginning of the fiscal year was immaterial.」
Following adoption of the Accounting Standard for Revenue Recognition, the company specifically disclosed that first-half net sales and cost of sales decreased by ¥4,767 million. - FY2022-Q1AchievedAnnual report
「From the beginning of the first quarter, we adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards. 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 Revenue Recognition and related standards, which had been scheduled for adoption from the beginning of the fiscal year ending March 2022, were actually adopted from 1 April 2021. Due to changes in the determination of principal-versus-agent transactions, among other factors, first-quarter net sales and cost of sales decreased by ¥2,797 million. - FY2021AdvancedAnnual report
「The standard is scheduled to be applied from the beginning of the fiscal year ending March 2022. The principal impact will result from determining whether the Company is acting as a principal or an agent in providing the goods or services specified in contracts. For certain transactions for which the Company previously recognized revenue on a gross basis as a principal, the determination under this accounting standard will require revenue to be recognized on a net basis as an agent. As a result, net sales in the consolidated statement of income for the following consolidated fiscal year are expected to decrease compared with net sales for the current consolidated fiscal year.」
The planned application from the beginning of the fiscal year ending March 2022 remains unchanged, and the impact has been specified in greater detail, including the expected decrease in net sales resulting from the change in determination from principal transactions to agent transactions. - FY2019First statedAnnual report
「“Accounting Standard for Revenue Recognition” (ASBJ Statement No. 29, 30 March 2018) and “Implementation Guidance on Accounting Standard for Revenue Recognition” (ASBJ Guidance No. 30, 30 March 2018)」
The Company stated that it plans to apply the new standard establishing the five-step model for revenue recognition from the beginning of the fiscal year ending March 2022 and is evaluating the amount of the impact.