Application of the Revenue Recognition Accounting Standard and Related Standards
First written in FY2022-Q1. 1 of 4 entries say "Advanced", first in FY2022. Latest entry: FY2022.
4 other companies' latest entry also says "Advanced".
- FY2022AdvancedAnnual report
「As a result, compared with the figures before applying the Revenue Recognition Standard and other relevant standards, retained earnings on the consolidated balance sheet for the current consolidated fiscal year increased by ¥1,216 million. On the consolidated income statement for the current consolidated fiscal year, revenue decreased by ¥7,134 million and cost of sales decreased by ¥7,454 million, while operating income, ordinary income and net income before income taxes increased by ¥320 million each.」
The annual impact of applying the Revenue Recognition Standard was finalized, and the amounts of its impact on retained earnings, revenue, cost of sales and profit were disclosed. - FY2022-Q3Update on the third-quarter impact of applying the Revenue Recognition StandardAnnual report
「Accordingly, for LPG sales, the Company changed from the previous meter-reading-date basis to a method of recognizing revenue by reasonably estimating the portion for which the obligation to deliver to customers had been completed by the end of the period. As a result, retained earnings increased by ¥996 million at the beginning of the first quarter of the current consolidated fiscal year. In addition, revenue decreased by ¥4,870 million and cost of sales decreased by ¥4,926 million during the cumulative third quarter, resulting in increases of ¥55 million each in operating income, ordinary income and quarterly net income before income taxes.」
As a result of applying the Revenue Recognition Standard, revenue decreased by ¥4.87 billion and cost of sales decreased by ¥4.926 billion during the cumulative third quarter, while operating income and other income measures increased by ¥55 million. - FY2022-Q2Update on the second-quarter impact of applying the Revenue Recognition StandardAnnual report
「Accordingly, for LPG sales, the Company changed from the previous meter-reading-date basis to a method of recognizing revenue by reasonably estimating the portion for which the obligation to deliver to customers had been completed by the end of the period. As a result, retained earnings increased by ¥996 million at the beginning of the first quarter of the current consolidated fiscal year. In addition, revenue decreased by ¥4,010 million and cost of sales decreased by ¥3,356 million during the cumulative second quarter, resulting in decreases of ¥653 million each in operating income, ordinary income and quarterly net income before income taxes.」
The cumulative second-quarter impact after applying the Revenue Recognition Standard was reported as a ¥4.01 billion decrease in revenue, a ¥3.356 billion decrease in cost of sales, and a ¥653 million decrease in operating income and other income measures. - FY2022-Q1First statedAnnual report
「The Company has applied 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. Accordingly, for LPG sales, the Company changed from the previous meter-reading-date basis to a method of recognizing revenue by reasonably estimating the portion for which the obligation to deliver to customers had been completed by the end of the period. As a result, retained earnings increased by ¥996 million at the beginning of the first quarter of the current consolidated fiscal year. In addition, revenue decreased by ¥1,768 million and cost of sales decreased by ¥1,349 million during the cumulative first quarter, resulting in decreases of ¥418 million each in operating income, ordinary income and quarterly net income before income taxes.」
The Revenue Recognition Standard and other relevant standards were applied from 1 April 2021, and revenue recognition for LPG sales changed from the meter-reading-date basis to estimated recognition of the portion for which the delivery obligation had been completed. As a result, retained earnings at the beginning of the period increased by ¥996 million, while revenue decreased by ¥1,768 million, cost of sales decreased by ¥1,349 million, and operating income, ordinary income and other income measures decreased by ¥418 million during the quarter.