Changes in revenue recognition and presentation resulting from the adoption of the revenue recognition accounting standard
First written in FY2022-Q1. 3 of 4 entries say "Restated". Latest entry: FY2022.
8 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The Company adopted the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the current consolidated fiscal year, and now recognizes revenue at the amount expected to be received in exchange for the promised services when control of those services is transferred to the customer. As a result, some tolls incurred when using expressways, which were previously included in cost of sales, are deducted from net sales. In addition, revenue from transactions involving transportation services and other services was previously recognized on the shipment basis, but, because control of the services was determined to transfer to the customer over a period of time, the method has been changed to recognize revenue by measuring the progress toward satisfaction of the performance obligation.」
The Company adopted the Revenue Recognition Accounting Standard from the beginning of the fiscal year and has continued to deduct tolls from net sales and recognize revenue based on progress during transportation. - FY2022-Q3RestatedAnnual report
「The Company adopted the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the first quarter of the current consolidated fiscal year, and now recognizes revenue at the amount expected to be received in exchange for the promised services when control of those services is transferred to the customer.」
The Company has continued to apply the Revenue Recognition Accounting Standard and related standards adopted from the first quarter in the third quarter. It has also continued the changes in recognition and presentation methods, including deducting tolls from net sales and allocating transportation transactions over the relevant period. - FY2022-Q2RestatedAnnual report
「The Company adopted the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the first quarter of the current consolidated fiscal year, and now recognizes revenue at the amount expected to be received in exchange for the promised services when control of those services is transferred to the customer.」
The Company has continued to apply the Revenue Recognition Accounting Standard and related standards adopted from the first quarter, including deducting tolls from net sales and allocating transportation transactions spanning the balance sheet date over the relevant period. It has also disclosed the impact of retrospective application to comparative figures, including a ¥297 million decrease in net sales for the second quarter of the previous fiscal year. - FY2022-Q1First statedAnnual report
「The Company adopted the “Accounting Standard for Revenue Recognition” (Accounting Standards Board of Japan Statement No. 29, 31 March 2020, hereinafter the “Revenue Recognition Accounting Standard”) and related standards from the beginning of the first quarter of the current consolidated fiscal year, and now recognizes revenue at the amount expected to be received in exchange for the promised services when control of those services is transferred to the customer. As a result, some tolls incurred when using expressways, which were previously included in cost of sales, are deducted from net sales. In addition, for transactions spanning the balance sheet date, net sales and cost of sales were previously recognized under the shipment basis, but the Company now calculates and recognizes only the portion related to transportation from the shipment date through the balance sheet date.」
The Company adopted the Revenue Recognition Accounting Standard and related standards from the beginning of the current quarter and changed its revenue recognition and presentation methods, including deducting tolls from net sales and allocating transportation transactions spanning the balance sheet date over the relevant period.