Adoption of the Revenue Recognition Accounting Standard From the Fiscal Year Ending March 2022
First written in FY2021. 1 of 2 entries say "Achieved", first in FY2022-Q1. Latest entry: FY2022-Q1.
21 other companies' latest entry also says "Achieved".
- FY2022-Q1AchievedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standards Board of Japan Statement 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. Revenue is recognized 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 company applied the accounting standards for revenue recognition and related standards from 1 April 2021, rather than the beginning of the fiscal year ending March 2022 as previously planned. It changed revenue recognition for consignment-type sales transactions from a net basis to a gross basis, but stated that the impact on profit and loss was immaterial. - FY2021First statedAnnual report
「The Accounting Standard for Revenue Recognition (Accounting Standard No. 29, 31 March 2020) and the Implementation Guidance on Accounting Standard for Revenue Recognition (Implementation Guidance No. 30, 26 March 2021) are scheduled to apply from the beginning of the fiscal year ending March 2022.」
The company stated that it planned to apply the accounting standards for revenue recognition and related standards from the beginning of the fiscal year ending March 2022, and that the impact on the consolidated financial statements would be immaterial.