| Date | Topics |
|---|---|
| 2024-10-08 | Announcement of Corporate Accounting Standard No. 34 “Accounting Standard for Leases” etc. |
| At the 532nd meeting of the Accounting Standards Board of Japan held on September 3, 2024, the following amendments were made: Accounting Standard No. 34 “Accounting Standard for Leases”, Accounting Standards Implementation Guideline No. 33 “Guideline on Accounting Standard for Leases”, Accounting Standards Implementation Guideline No. 35 “Partial Amendments to Accounting Standard for Impairment of Fixed Assets”, Accounting Standards Implementation Guideline No. 36 “Partial Amendments to Standards for Preparation of Consolidated Cash Flow Statements, etc. (Part 2)”, Amended Accounting Standards Implementation Guideline No. 18 “Accounting Standard for Asset Retirement Obligations”, Amended Accounting Standards Implementation Guideline No. 20 “Accounting Standard for Disclosure of Fair Value, etc. of Rental Property, etc.”, Amended Accounting Standards Implementation Guideline No. 29 “Accounting Standard for Revenue Recognition”, Amended Accounting Standards Implementation Guideline No. 6 “Guideline on Accounting Standard for Impairment of Fixed Assets”, Amended Accounting Standards Implementation Guideline No. 10 “Guideline on Accounting Standard for Business Combinations and Accounting Standard for Business Divestitures, etc.”, Amended Accounting Standards Implementation Guideline No. 13 “Guideline on Accounting Standard for Related Party Disclosures”, Amended Accounting Standards Implementation Guideline No. 15 “Guideline on Accounting Standard for Related Party Disclosures”, | |
| https://www.asb-j.jp/jp/accounting_standards/y2024/2024-0913.html |
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| 2024-04-01 | Announcement of Corporate Accounting Standard No. 33 “Accounting Standard for Interim Financial Statements” etc. |
| At the 522nd Accounting Standards Board of Japan held on March 18, 2024, the publication of Accounting Standards Board of Japan No. 33, “Accounting Standard for Interim Financial Statements,” and Accounting Standards Board of Japan Guidance No. 32, “Guidelines on Accounting Standard for Interim Financial Statements.” | |
| https://www.asb-j.jp/jp/accounting_standards/y2024/2024-0322.html |
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| 2023-04-14 | Publication of Practical Response Report No. 44 “Immediate treatment of the application of tax effect accounting related to revisions to the corporate tax law in response to global minimum taxation” |
| At the 498th Accounting Standards Board of Japan held on March 22, 2023, the publication of Practical Response Report No. 44 “Immediate treatment of the application of tax effect accounting related to revisions to the corporate tax law in response to global minimum taxation” was approved. | |
| https://www.asb-j.jp/jp/practical_solution/y2024/2024-0322_01.html |
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| 2022-09-29 | Publication of Practical Response Report No. 43 “Handling of Accounting and Disclosure for Issuance and Possession of Rights to Display Securities by Electronic Record Transfer” |
| At the 485th Accounting Standards Board of Japan held on August 23, 2022, the publication of Practical Response Report No. 43 “Handling of Accounting and Disclosure for Issuance and Holding of Electronically Recorded Transfer Securities Display Rights” was approved. | |
| https://www.asb-j.jp/jp/practical_solution/y2022/2022-0826.html |
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| 2021-09-02 | Publication of Practical Response Report No. 42 “Handling of Accounting and Disclosure When Applying Group Total System” |
| At the 463rd Accounting Standards Board of Japan held on August 11, 2021, the publication of Practical Response Report No. 42 “Handling of Accounting and Disclosure when Applying the Group Total System” was approved. | |
| https://www.asb-j.jp/jp/practical_solution/y2021/2021-0812.html |
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| 2021-03-01 | Publication of Practical Response Report No. 41, “Handling of Transactions for Free Delivery of Shares as Compensation for Directors”, etc. |
| At the 450th Accounting Standards Board of Japan held on January 27, 2021, Practical Response Report No. 41 “Handling of Transactions for Free Delivery of Shares as Compensation for Directors”, Revised Accounting Standard No. 5 “Accounting Standards for Presentation of Net Assets on Balance Sheet” and the revised Corporate Accounting Standards Application Guideline No. 8 “Application Guidelines for the Accounting Standards for the Presentation of Net Assets Section of the Balance Sheet” was approved. | |
| https://www.asb-j.jp/jp/practical_solution/y2021/2021-0128.html |
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| 2020-12-07 | Publication of Practical Response Report No. 40, “Handling of Hedge Accounting for Financial Instruments Referencing LIBOR” |
| The publication of LIBOR will end at the end of December 2021, and the interest rates referenced for contracts that refer to LIBOR may change. The Accounting Standards Board of Japan was considering the accounting problems caused by this, including the necessity of developing standards. At the 442nd Accounting Standards Board of Japan held on September 24, 2020, the publication of “Handling of Hedge Accounting for Financial Instruments Referencing LIBOR” was approved. | |
| https://www.asb-j.jp/jp/practical_solution/y2022/2022-0317.html |
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| 2020-03-31 | Points to note when holding a general meeting of shareholders related to the coronavirus infection (published by the Ministry of Justice) |
| In the event that the Ministry of Justice could not hold the Ordinary General Meeting of Shareholders on February 28, 2020, related to this new type of coronavirus infectious disease at the originally scheduled time, please note that the “Ordinary General Meeting of Shareholders About ”was published. The main contents are as follows.
(1) If it is not possible to hold a general meeting of shareholders at the time specified in the Articles of Incorporation in connection with the new type of coronavirus infection, hold the general meeting of shareholders within a reasonable period after the situation is resolved. Is enough. (2) If the articles of incorporation specify a record date for exercising voting rights at the general meeting of shareholders, there may be situations in which the general shareholders meeting cannot be held within three months from the record date in relation to a coronavirus infection. In such a case, a new record date for exercising voting rights shall be established, and the record date shall be announced two weeks prior to the record date. (3) Even if the articles of incorporation stipulate that a specific date is the record date for dividends of surplus, it is not possible to pay dividends from the specific date as the record date in relation to the new type of coronavirus infection. When a situation arises, it is possible to set a date different from the specific date as a reference date for the distribution of the surplus, and make a public notice to pay the dividend. |
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| http://www.moj.go.jp/MINJI/minji07_00021.html |
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| 2019-11-19 | Early adoption of revenue recognition accounting standards |
| According to the article on Management Finance No. 3426, 8 companies disclosed that accounting standards for revenue recognition were early applied (as of September 23), and 28 companies in the previous survey (as of July 10) At the same time, the number of early adopters is 36 (limited to companies that have made early note in the “Change in accounting policy” in the securities report or quarterly report). The eight companies that were found to be early applied in this survey were timed for early adoption of 7 companies from the beginning of the fiscal year ending March 2020 and 1 company from the beginning of the fiscal year ending February 2020. As for the impact, 4 out of 8 companies increased, 1 decreased, 2 had “Impact is minor” and 1 had “no impact”. In principle, the new accounting policy will be applied retroactively to all past periods in the first year of the application of revenue recognition accounting standards. However, according to the proviso to paragraph 84, a new accounting policy will be applied before the beginning of the first year of application. The cumulative effect of the first year of application of a new accounting policy can be adjusted to the retained earnings at the beginning of the first year of application, and a new accounting policy can be applied from the beginning balance. All of the eight companies mentioned above applied the transitional measures in the proviso to paragraph 84. | |
| 2019-10-06 | Announcement of the format of the report on the results of agreed procedures regarding cashless and consumer returns business |
| Operating expenses for payment operators, etc. to implement point reduction using cashless payment methods for small and medium-sized businesses as a measure for leveling demand in response to the consumption tax rate increase from October 1, 2019 A cashless / consumer return business will be carried out to assist some of the expenses.
Inefficiency of points, etc. used in calculating the subsidy amount for cashless issuers (subcontractors who have purchased cashless payments) that receive subsidies in this project The usage rate must be confirmed by a certified public accountant or an audit corporation. Regarding the confirmation work by this certified public accountant or audit corporation, the “Agreed Procedure Execution Result Report Format” has been announced on the Cashless and Consumer Returns Business Website. This format describes the procedures that are expected to be performed by a certified public accountant or an audit corporation in this confirmation. Using this format, the business will be carried out in accordance with the 4400 “Practical Guidelines for the agreed Procedure Work”. |
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| https://jicpa.or.jp/specialized_field/20190906ieg.html |
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