Planned Adoption of the Accounting Standard for Revenue Recognition
First written in FY2018. 1 of 6 entries say "Restated". Latest entry: FY2022.
- FY2022Full-year impact of the revenue recognition standard quantifiedAnnual report
「Compared with before the application of the revenue recognition accounting standard and other standards, the consolidated income statement for the current consolidated fiscal year shows decreases of ¥427.938 million in net sales, ¥274.221 million in cost of sales, ¥107.484 million in selling, general and administrative expenses, and ¥46.233 million in operating income, while ordinary income and profit before income taxes increased by ¥6.609 million each.」
The company discloses the full-year impact on net sales, operating income and other items of the revenue recognition accounting standard applied from the beginning of the fiscal year. - FY2022-Q3Updating the cumulative impact of applying the accounting standardsAnnual report
「As a result, during the nine months ended the third quarter of the current consolidated fiscal year, net sales decreased by ¥252.883 million, cost of sales by ¥151.900 million, selling, general and administrative expenses by ¥81.260 million, and operating income by ¥19.722 million, while ordinary income and profit before income taxes increased by ¥24.598 million each.」
The company updates and discloses the impact of applying the revenue recognition accounting standard and other standards on net sales, operating income and other items for the nine months ended the third quarter. - FY2022-Q2Quantifying the impact of applying the accounting standards on financial resultsAnnual report
「As a result, during the six months ended the second quarter of the current consolidated fiscal year, net sales decreased by ¥260.081 million, cost of sales by ¥169.270 million, selling, general and administrative expenses by ¥56.007 million, and operating income by ¥34.804 million, while ordinary income and profit before income taxes decreased by ¥10.019 million each.」
The company discloses in monetary terms the decreases in net sales, operating income, ordinary income and other items resulting from the application of the revenue recognition accounting standard. - FY2022-Q1AchievedAnnual report
「The “Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 31 March 2020, hereinafter the “revenue recognition accounting standard”) and other standards were applied from the beginning of the first quarter of the current consolidated fiscal year.」
The revenue recognition accounting standard and other standards, which had been scheduled for application by the previous fiscal year, were applied from the beginning of the first quarter of the current consolidated fiscal year. The company also discloses a decrease of ¥176.150 million in net sales and other effects resulting from the application. - FY2019RestatedAnnual report
「The standards are scheduled to be applied from the beginning of the fiscal year ending November 2022.」
The company continues to disclose its plan to apply the revenue recognition standard using the five-step model from the beginning of the fiscal year ending November 2022. - FY2018First statedAnnual report
「“Accounting Standard for Revenue Recognition” (Accounting Standard No. 29, 30 March 2018) / Revenue is recognized by applying the following five steps. Step 1: Identify the contract with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations. Step 5: Recognize revenue when, or as, the performance obligations are satisfied. / The standard is scheduled to be applied from the beginning of the fiscal year ending November 2022.」
The company plans to apply the new accounting standard for revenue recognition from the fiscal year ending November 2022 and discloses the five-step recognition method.