Net presentation of restaurant revenue following adoption of the revenue recognition accounting standard
First written in FY2022-Q1. 3 of 4 entries say "Restated". Latest entry: FY2023.
50 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「For the portion of transactions in this business that qualifies as agency transactions, revenue is measured on a net basis.」
The company continues to apply the Revenue Recognition Accounting Standard, under which revenue from agency transactions at entrusted restaurants is presented on a net basis. - FY2022-Q3RestatedAnnual report
「As a result, net sales for the nine months ended the third quarter of the current fiscal year decreased by ¥29.548 million, and cost of sales decreased by the same amount. There was no impact on the opening balance of retained earnings for the current fiscal year.」
The company continues to apply the Revenue Recognition Accounting Standard, explaining that commercial business net sales and cost of sales have decreased by the same amount, with no impact on retained earnings. - FY2022-Q2RestatedAnnual report
「The company has applied the Revenue Recognition Accounting Standard and related standards in accordance with the transitional treatment prescribed in the proviso to paragraph 84 of the standard. The cumulative effect of retrospective application of the new accounting policy before the beginning of the first quarter of the current fiscal year was added to or deducted from retained earnings at the beginning of the first quarter, and the new accounting policy was applied from that opening balance. As a result, net sales for the six months ended the second quarter of the current fiscal year decreased by ¥20.702 million, and cost of sales decreased by the same amount. There was no impact on the opening balance of retained earnings for the current fiscal year.」
The company continues to apply the Revenue Recognition Accounting Standard, explaining that commercial business net sales decreased by ¥20.702 million while cost of sales decreased by the same amount, with no impact on retained earnings. - 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 Accounting Standard”) and related standards from the beginning of the first quarter of the current fiscal year. Revenue is recognized 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. Accordingly, for revenue from restaurants in the commercial business, the company previously recognized revenue at the gross amount of consideration received from customers. For transactions in which the Group acts as an agent in providing goods or services to customers, however, the company has changed to recognizing revenue on a net basis, after deducting payments to the operator entrusted with managing the restaurants.」
The company applied the Revenue Recognition Accounting Standard and related standards from the first quarter and changed the presentation of revenue from agency transactions involving entrusted restaurants from gross to net. Net sales decreased by ¥10.582 million, but cost of sales decreased by the same amount, with no impact on the opening balance of retained earnings.