Changes in Revenue Recognition Methods Following Adoption of the Revenue Recognition Accounting Standard
First written in FY2022-Q1. 1 of 2 entries say "Restated". Latest entry: FY2022-Q3.
1 other company's latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「As a result, net sales for the nine months ended the third quarter decreased by ¥264.402 million, cost of sales decreased by ¥255.789 million, and operating income, ordinary income and income before income taxes for the quarter each decreased by ¥8.612 million. The opening balance of retained earnings also decreased by ¥994 thousand.」
The company stated the impact of applying the revenue recognition accounting standard from the first quarter: over the nine months ended the third quarter, net sales decreased by ¥264.402 million, operating income and other items decreased by ¥8.612 million, and the opening balance of retained earnings decreased by ¥994 thousand. - FY2022-Q1First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020; hereinafter, the “Revenue Recognition Accounting Standard”) and other standards were adopted from the beginning of the current 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 is transferred to the customer.」
The company applied the revenue recognition accounting standard and related standards from the beginning of the first quarter of the fiscal year ending March 2022, changing the revenue recognition method for installation and configuration work related to product sales and shareholder benefit services. As a result of the application, quarterly net sales decreased by ¥143.622 million and the opening balance of retained earnings decreased by ¥994 thousand.