Adoption of the Revenue Recognition Accounting Standard for the Fiscal Year Ending June 2022
First written in FY2020. 1 of 3 entries say "Advanced", first in FY2021. Latest entry: FY2022-Q1.
- FY2022-Q1AchievedAnnual report
「We applied the Accounting Standard for Revenue Recognition and related standards from the beginning of the first-quarter consolidated accounting period. Revenue is recognized at the point when control of the promised goods or services is transferred to the customer, at the amount expected to be received in exchange for those goods or services.」
The revenue recognition accounting standard scheduled for application from the beginning of the fiscal year ending June 2022 was applied from the beginning of the first quarter of the current consolidated fiscal year. The company explained that the impact on profit or loss and opening retained earnings was immaterial. - FY2021AdvancedAnnual report
「The cumulative impact of applying the Accounting Standard for Revenue Recognition and related standards is expected to be reflected in net assets at the beginning of the following consolidated fiscal year, increasing the opening balance of retained earnings by ¥18 million.」
The company continued to plan to apply the revenue recognition standard from the beginning of the fiscal year ending June 2022 and estimated the impact on the opening balance of retained earnings at ¥18 million. - FY2020First statedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending June 2022.」
The company disclosed plans to apply the Accounting Standard for Revenue Recognition and related implementation guidance from the beginning of the fiscal year ending June 2022. The impact was still being assessed as of the date of preparation.