Application of the Revenue Recognition Accounting Standard and Changes in the Accounting Treatment of Returns and Loyalty Point Transactions
First written in FY2022-Q1. 2 of 4 entries say "Restated". Latest entry: FY2022.
The whole theme swung hardest in 2024: 1 of 8 companies on the "Worse" side.
8 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, revenue for the fiscal year decreased by ¥130 million, selling, general and administrative expenses decreased by ¥128 million, and operating profit, ordinary profit and profit before income taxes each decreased by ¥2 million. The beginning balance of retained earnings also decreased by ¥13 million.」
Regarding the application of the revenue recognition accounting standard, the full-year impact of changes in the accounting treatment for returns and points transactions was disclosed as a ¥130 million decrease in net sales, a ¥128 million decrease in selling, general and administrative expenses, a ¥2 million decrease in each profit measure, and a ¥13 million decrease in retained earnings at the beginning of the period. - FY2022-Q3RestatedAnnual report
「As a result, revenue for the nine-month period ended 31 December decreased by ¥90 million, selling, general and administrative expenses decreased by ¥91 million, and operating profit, ordinary profit and profit before income taxes each increased by ¥1 million. The beginning balance of retained earnings also decreased by ¥13 million.」
The Company continued applying the revenue recognition standard and related standards, disclosing the cumulative impact of changes in the treatment of sales with a right of return and point transactions as a ¥90 million decrease in revenue, a ¥91 million decrease in selling, general and administrative expenses and a ¥1 million increase in each profit measure. - FY2022-Q2RestatedAnnual report
「As a result, revenue for the six-month period ended 30 September decreased by ¥66 million, selling, general and administrative expenses decreased by ¥67 million, and operating profit, ordinary profit and profit before income taxes each increased by ¥1 million. The beginning balance of retained earnings also decreased by ¥13 million.」
The Company continued applying the revenue recognition standard and related standards through the second quarter, disclosing the cumulative impact of changes in the treatment of sales with a right of return and point transactions as a ¥66 million decrease in revenue, a ¥67 million decrease in selling, general and administrative expenses and a ¥1 million increase in each profit measure. - FY2022-Q1First statedAnnual report
「The company has applied the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards from the beginning of the current 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.」
Effective 1 April 2021, the Company applied the revenue recognition standard and related standards. For sales with a right of return, it recognized a refund liability, and for points constituting a material right, it changed to a method of deferring revenue recognition by accounting for the points as a performance obligation. As a result of the application, revenue for the first quarter decreased by ¥40 million and selling, general and administrative expenses decreased by ¥40 million.