Application of the revenue recognition accounting standard from the fiscal year ending February 2023
First written in FY2020. 1 of 5 entries say "Restated". Latest entry: FY2023.
- FY2023Disclosed the full-year impact of applying the revenue recognition accounting standardAnnual report
「As a result, revenue for the fiscal year decreased by ¥891 million, cost of sales decreased by ¥923 million, gross profit increased by ¥31 million and operating revenue decreased by ¥895 million. Selling, general and administrative expenses also decreased by ¥865 million, while operating income, ordinary income and income before income taxes each increased by ¥1 million. The beginning balance of retained earnings carried forward decreased by ¥39 million.」
The specific impacts of applying the revenue recognition standards and related requirements throughout the fiscal year on revenue, operating revenue, cost of sales, SG&A expenses and profit were disclosed. - FY2023-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and related standards have been applied from the beginning of the first quarter accounting period. Accordingly, key management indicators for the cumulative first quarter reflect application of these accounting standards.」
The revenue recognition standards and related requirements scheduled for adoption from the beginning of the fiscal year ending February 2023 were actually applied from 1 March 2022. The company introduced net presentation for transactions as an agent, accounting for its own loyalty points as performance obligations, and treatment of center fees as cost of sales. Revenue decreased by ¥199 million and operating revenue by ¥234 million, while gross profit increased by ¥14 million. - FY2022RestatedAnnual report
「Scheduled adoption date for the Accounting Standard for Revenue Recognition and other standards: adoption from the beginning of the fiscal year ending February 2023.」
The company plans to adopt the accounting standards on revenue recognition, fair value measurement and related matters from the beginning of the fiscal year ending February 2023, and the impact is being assessed. - FY2021Add the accounting standards scheduled for adoptionAnnual report
「To be applied from the beginning of the fiscal year ending February 2023.」
The document describes plans to adopt accounting standards and related guidance on revenue recognition, fair value measurement, inventories, financial instruments and disclosures of accounting estimates. Revenue recognition and related standards are scheduled to apply from the beginning of the fiscal year ending February 2023, while disclosures of accounting estimates are scheduled to apply from the end of the fiscal year ended February 2022. - FY2020First statedAnnual report
「To be applied from the beginning of the fiscal year ending February 2023.」
The company plans to apply the accounting standards and implementation guidance on revenue recognition from the beginning of the fiscal year ending February 2023, and states that the impact on the financial statements is currently being assessed.