Application of the Accounting Standard for Revenue Recognition in the Fiscal Year Ended March 2020
First written in FY2019. 1 of 4 entries say "Achieved", first in FY2020-Q1. Latest entry: FY2020-Q3.
- FY2020-Q3Additional disclosure of the cumulative effect through the third quarterAnnual report
「As a result, for the cumulative third quarter of the current consolidated fiscal year, net sales increased by ¥308.120 million, cost of sales by ¥234.730 million, and operating income, ordinary income and profit before income taxes by ¥73.390 million, respectively. The opening balance of retained earnings also increased by ¥10.667 million.」
For the revenue recognition accounting standards applied from the first quarter, the Company disclosed cumulative third-quarter effects of increases of ¥308.120 million in net sales, ¥73.390 million in operating income and other items, and ¥10.670 million in opening retained earnings. - FY2020-Q2Cumulative disclosure of the effect of applicationAnnual report
「As a result, for the cumulative second quarter of the current consolidated fiscal year, net sales increased by ¥92.201 million, cost of sales by ¥71.510 million, and operating income, ordinary income and profit before income taxes by ¥20.691 million, respectively.」
For the revenue recognition accounting standards applied from the first quarter, the Company disclosed an increase of ¥92.201 million in net sales and ¥20.691 million in operating income and other items for the cumulative second quarter. - FY2020-Q1AchievedAnnual report
「The Company applied the revenue recognition accounting standards and related guidance from the beginning of the first quarter of the current consolidated fiscal year, and recognizes revenue 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 accounting standards and related guidance, which had been scheduled for application from the fiscal year ending March 2020, were applied from the beginning of the first quarter of the current fiscal year. As a result, net sales increased by ¥59.496 million and operating income and other items increased by ¥13.493 million. - FY2019First statedAnnual report
「Under this standard, revenue is recognized based on the following 5 steps, as under IFRS 15.」
The Company stated that it planned to apply the revenue recognition accounting standards and related guidance from the beginning of the fiscal year ending March 2020, and disclosed a 5-step method covering the identification of contracts, identification of performance obligations, determination and allocation of the transaction price, and recognition when performance obligations are satisfied.