Application of the new revenue recognition accounting standard for the fiscal year ending March 2022
First written in FY2018. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
- FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (ASBJ Statement No. 29, 31 March 2020) and related standards were applied from the beginning of the first-quarter consolidated accounting period. Revenue is recognized at the amount expected to be received in exchange for promised goods or services when control of those goods or services transfers to the customer.」
The company began applying the new revenue recognition accounting standard, which had been scheduled for adoption from the fiscal year ending March 2022, from the beginning of the first quarter of fiscal 2021. As a result, net sales for the quarter decreased by ¥6,142 million and operating loss and other items decreased by ¥1,158 million. - FY2018First statedAnnual report
「(2) Scheduled date of application: The standard will be applied from the beginning of the fiscal year ending March 2022. (3) Impact of applying the accounting standard and other requirements: The impact of applying the Accounting Standard for Revenue Recognition and other requirements on the consolidated financial statements is currently being assessed.」
The company indicated that it planned to apply the new revenue recognition accounting standard and related standards from the beginning of the fiscal year ending March 2022, and stated that the amount of the impact on the financial statements was still being assessed.