Institutions and accounting standard transformation: Observations from Japan

Institutions and accounting standard transformation: Observations from Japan

This paper describes the transformation of Japan’s accounting standards over the past 2 decades and the driving forces behind this transformation. It also analyzes the current state of Japan’s accounting standards, which are characterized by the dichotomy of accounting systems inherited from the cou...

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Bibliographic Details
Main Author: Naohiro Urasaki
Format: Article
Language:English
Published: Elsevier 2014-03-01
Series:China Journal of Accounting Research
Subjects:
Single set of accounting standards
IFRS
Financial instruments
Substance over form
Fair value
Dichotomy of accounting systems
Accounting standards for SMEs
Online Access:http://www.sciencedirect.com/science/article/pii/S175530911300052X
Description
Summary:This paper describes the transformation of Japan’s accounting standards over the past 2 decades and the driving forces behind this transformation. It also analyzes the current state of Japan’s accounting standards, which are characterized by the dichotomy of accounting systems inherited from the country’s political, economic and legal institutions. The discussion in this paper emphasizes that a single set of accounting standards is not always effective for every entity.
ISSN:1755-3091

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