Product Sales

Sales of commercial products are recognized at the time of sales. But depending on the industry and company, point of sales differs. In general, point of sales can be categorized into the following,

1. Contract Signed Date
2. Shipping Date
3. Delivery Date
4. Receipt Inspection Date
5. Date of Usage

In principle, recognition for corporate income tax and consumption tax is at the time of delivery. In case the company chooses to use a point in time other than the delivery date as sales recognition, consult with your tax accountant to see if reason for such decision is something tax auditors will be accepting. You are able to choose a different point in time for sales recognition by each product but logical explanation and consistency is required.

“Our Group operates worldwide in the fashion and luxury goods sector and is active in the design, production and distribution of a wide range of products that includes prêt-a-porter, footwear and leather goods.

We started our collaboration with Nagamine & Mishima Accounting Office since we decided to establish our subsidiary Aeffe Japan in November 2008. N&M supported us during the start up of this company in particular with the accounting, payroll, cash management and tax services and gave their total collaboration when Aeffe Japan built-up Its own financial department. We found a very high quality support and punctual answers to different one-shot questions that also helped us to understand, in an easy way, a really different way to operate.

After the start up phase, we decided to confirm to N&M the tax and payroll services for Aeffe Japan and for Moschino Japan, our other Japanese subsidiary, and the daily relationship with them passed from the Italian HQ to the Japan subsidiaries in a very simple way.

We are very satisfied to have chosen N&M.”

Andrea Pagliarani, Group Financial Controller
Aeffe Japan KK