Planned Adoption of the Accounting Standard for Revenue Recognition in Fiscal 2021
First written in FY2019. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
- FY2022-Q1AchievedAnnual report
「We adopted the Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Standard”) and other relevant standards from the beginning of the first quarter of the current consolidated fiscal year. 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 is transferred to the customer.」
The revenue recognition standard and related requirements, which had been scheduled for adoption from consolidated fiscal years beginning on or after 1 April 2021, were applied from the beginning of the first quarter of the current fiscal year. Specific changes in accounting treatment were also implemented, including the allocation of construction costs over time and net presentation of transactions as an agent. - FY2019First statedAnnual report
「The “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 30 March 2018) and the “Implementation Guidance on Accounting Standard for Revenue Recognition” (Accounting Standards Application Guidance No. 30, 30 March 2018) are scheduled to be applied from the beginning of the consolidated fiscal year starting on or after 1 April 2021.」
The revenue recognition standard and related requirements were scheduled to be applied from consolidated fiscal years beginning on or after 1 April 2021, with the impact amount undetermined as of the time of preparation.