■ 国際会計研究学会 年報 2015 年度 第 1 号

Ⅵ

Summary of Articles

Sustainability of an Organization and Evolution ofFinancial Reporting Under Global Economy
Tatsumi Yamada
Partner, KPMG AZSA LLC
Thetitleofthediscussion

isobligations must be expanded to meet

“SustainabilityofanOrganization

andvarious stakeholders’ expectations such as

Evolution of Financial Reporting Under

reducing the greenhouse gas emissions andGlobal Economy,” which provides three

investing money for training of humanpointstoresources, which is called as “creation ofunderstand the implications of the title.

values for stakeholders and society at large”

They are;in addition to creation of value for investors.

tobeconsidered

inorder(a) Globalization of economic and social

Regarding evolution of financial reporting

activities of entities

in response to the changes in needs of(b)Sustainability of an entity

stakeholders, it is important to know that(c)

Evolutionoffinancial

reportinginfocusofinformationneedsof

theresponse to the changes in needs ofstakeholders is shifting from the financial

stakeholders

information to non-financial information

Regarding the first point, the globalization

because stakeholders want to know how anof economies requires common standards

entity meets expectations expressed bythat

invarious stakeholders which are not limited

financial results and non-financial results.

to financial information. An importance of a

For non-financial activities, an integrated

notion of “corporate reporting”, which isreport that is in conformity with the IIRC

consisted of financial and non-financial

Framework could be a main stream of suchinformation, should be emphasized andnon-financial information reporting.

developed further to balance the needs of

depictentities’ activities

bothRegarding the sustainability of an entity,

both information. It might be useful to create

it is important to meet the needs of not only

ainvestors

responsibility

butalsovariouskinds

ofstakeholders in order for the entity to benew

standards-setteroverboththathasfinancialandnon-financial information disclosures.

sustainable. A notion that the entity’s

159

The Realities and Subjects of Integrated Reports
in JapanHiroaki Jindo
National Graduate Institute For Policy Studies

Integrated Reports in Japan are voluntary

Institute of Capital Formation, Development

disclosure method, but the number of themBank of Japan Inc. and the interim report ofis gradually increasing. It is said to be

Questionnaires related to Integrated Reports

probably 200 in 2015, and over 300 in 2016.

in Japan.

Nevertheless,thedetailsofIntegrated

Reports are not always clear.
Thispaper

theReportingisaneffective

communication tool for other important
andstakeholders than investors in response tosubjects of Integrated Reports in Japaneach management strategy by firm, but it isbased on the present results of the researchjust from now on that Japanese firms takeprojectfor improvement in quality related to the“TheshowsIntegrated

ReformrealitiesofEconomy,

Management and Accounting as a whole interms of Integrated Thinking” by Research160

contents of Integrated Reports seriously.

Integrated Disclosure of Sustainability-Risk Information
Noriyuki Konishi
Aoyama Gakuin University

Risk

informationisfundamental

tointegrated sustainability-risk information offinancial reporting users assessing andbusiness.

predicting about the future cash flow of ansustainability-risk associated with economic,entity. It is generally accepted that risksocial and environmental performances has

information is critical to understanding themade sustainability a strategic priority for

financial and non-financial performance ofcompanies as part of their overall businessan entity. It is also accepted that a better

strategy. So the integrating risk assessment

understanding of sustainability would beprocesses and the risk disclosure by risk

beneficial by stakeholders. Measuring anmanagement

organization’seconomic,

report into integrated report.

environmental

performances

socialand

isoftenreferred to as the triple bottom line.

Becausecantheintegratechangeofsustainability

It is stated that enhanced integrated
information about what companies do toIn this paper, I try to (1) integrateassess and manage sustainability-risk will

information among the sustainability of(i) encourage better risk management, (ii)business, (2) integrate information among

improvethe risks of business, and (3) integrate

accountability of management, (iii) help tosustainability

ensure the equal treatment of stakeholders,

informationandrisk

information.
As the result of these consideration I can
explain that it is possible to disclose(iv)

accountability

providepracticalandcorporate

forward-looking

information, (v) improve the usefulness offinancial reporting.

161

AccountingforImpairmentofFinancial
Instruments:
Recognition,Deduction,andReversal
Ryohei Negishi
Waseda University

This paper outlines the International
Accounting Standards Board (IASB) andFinancial(FASB)

AccountingStandards,

Standards

andBoardelucidates

for the reversals of impairment losses.
However,amid

thesechanges,

theimpairment concept of financial instruments

thein the new accounting methods proposed bychanges and problems associated with thethe IASB and FASB is ambiguous. Because

impairment of financial instruments. It also

theexamines the accounting for impairment offinancial asset is impaired is not consistentfinancial instruments, especially recognition,

withdeduction, and reversal.

recognition, and especially in the case of

Unlike conventional accounting practices,
thenew

impairment

methods
ofofaccounting

financialcriterion
thetotiming

determineofwhether

impairment

aloss

available-for-sale securities, the reversal inforallowance approach may involve not onlyinstruments

credit risk factors but also other market

proposed by the IASB and FASB eliminate

factors.

qualitative criterion to recognize impairment

To make the impairment concept clear,losses for most of the financial instruments,

this paper proposes that different methods ofand adopts allowance approach (indirectaccounting be adopted on the basis of thededuction through allowances) that allows

collectability of financial instruments.

162

Tax
Saving
Motivation
Corporations in Chinaof

Multinational

Liu Gong Ping
Kwansei Gakuin University

This

paper

investigates

whethera group, but only limit to existing empiricalmultinational corporations (MNCs) in China

literatures on the China capital market.

take advantage of the difference between

Therefore, it is necessary to make this issue

their overseas parent companies’ tax rate toclear by providing more empirical evidence.

reduce their overall tax burden as a group. If

This paper investigates the effect of overseas

the MNCs in China do have this tax saving

parent companies’ tax rate on the MNCs’

motivation, it is the most common way of

pretax profits to sales ratio, return on assets,

shifting their taxable income by using

tax payment to sales ratio in China by using

artificial transfer prices in related parties

firm-level financial data from 2008 to 2012.

transactions to achieve this objective. ThisWe assume that if the MNCs in China dopaper aims to argue that the existence of

have tax saving motivation, their overseas

manipulation

parent companies’ tax rate would produce atransfer

pricingbehaviors

among MNCs in China. There is a lot ofsignificant

evidence from other capital markets that

aforementioned. We employed an one-way

MNCs take advantage of the difference

analysis of variance (ANOVA) to test thisbetween their overseas parent companies’

assumption and we found the result supports

tax rate to reduce their overall tax burden as

our hypothesis.

effectonthethreeindices

163

The Choice of Local GAAP in European Stock
Market - The Case of Germany Tomomi ShiosakiKyushu University

This paper examines the standard choiceStandard, requires compliance with either

and application of local GAAP by European

the German standard or the IFRS incompanies

thepreparing consolidated accounts. We analyze

International Financial Reporting Standards

the standard choice of European companies(IFRS). In the EU, the IFRS have applied forusing Database Osiris, especially focused on

consolidated

EuropeanGerman companies to evaluate companies’companies listed on the regulated market on

motivation to use local GAAP. As a result, weand after 2005. However, the local GAAP isfound that about 60 percent of German

still available for registered companies oncompanies chose local GAAP on the Entry

the exchange-regulated market in Germany

Standard and that Frankfurter stock market

andFrankfurt

structurally changed after adoption of theregulated markets require complying withIFRS because the Entry Standard has grown

the IFRS under European and German laws,

since 2005.

afterFrance.

theaccountsForadoptionofexample,ofbut the exchange-regulated market, Entry

164

Standardization Efforts of Accounting Data, Data
Analytics as Future Prospects of the Accounting
Audit, and the Impact to Integrated Report
Akinori Kimura
Certified Public Accountant

Seen many advances of technology thatbe said Data Centric Economy of the era hascauses a large change in the future of thearrived. This paper is introduced, we lookeconomy and society and industry, can occur

back at the history of accounting audit from

impact on the profession, including audit

times

professionals. Moreover, progress in thisstandardization efforts of accounting data,technology, if replaced by another words, thedata analytics as future prospects of thedata to be processed by the computer can beaccounting

said to be that play an important role. It can

integrated report.

likeaudit,

theseandcircumstances,theimpact

165

toFuture Possibility of Assurance on Integrated
Reporting - Credibility Enhancement on Business
Reporting in the Age of Globalization Yuichi Torikai
Toyo UniversityInternational

Reportingprecisely, the paper clarifies the definition ofCouncil issued “Assurance on <IR>: anassurance engagement, identifies subjectExploration2014.

matter in the integrated reporting, andintegrated

finally explores the future possibility and thereporting is extended from its disclosures tochallenging area, including how to handle

the assurance on integrated reporting.

nonCurrentlyof
theIntegratedIssues”
discussion

inJulyon

If the integrated reporting is utilized forfinancialinformationandapplymateriality concept.

the communication with community, theSince the integrated reporting is expectedmechanism providing credibility is required.

to be assured by the assurance of general

The need for assurance is recognized in thispurpose reporting targeted to the wide range

context. However, there are a lot of issues toof stakeholders, I believe that the framework

be solved in order to provide the assurance

for disclosures should be established basedon integrated reporting.

on the agreement with community. With theAfterconfirming

theobjectiveofexpansion

ofvoluntary

disclosuresofintegrated reporting, this paper studies how

integrated reporting, it is expected that thetoframework is going to be established in due

apply

theassurance

mechanismtointegrated reporting based on “Assurance on<IR>: an Exploration of Issues”. More166

course.

The Interim Report of Study Group: The
Conceptual Framework on the International
Financial Reporting Standards
Isamu Iwasaki
Kyushu University

The purpose of the study group is to clarify
thefeatures

andproblems

ofperspectives, firstly we will analyze how thethe

conceptual framework has changed as theInternational Accounting Standards Board’s

result of the joint working group with the US

conceptual framework. The themes done by

Financial Accounting Standards Board, andthe study group in this year are in the text of

secondly we will show the arrival point of thethis report. In this paper, we will examine

structure of financial accounting in theand clarify the features of the IASB’sframework.

conceptual framework. As to the analytical167

IIRC Integrated Reporting
Integrated Reports

FrameworkandOsamu Furusho
Nihon University

The theme of this research group is toexamine various subjects on IIRC Integrated

conditions and classification of common
characteristics according to type.

Reporting Framework and Integrated Report

As a point of comparison in examining

from several viewpoints, such as difference

conditions in Japan, this research groupfrom conceptual framework for financialhighlights

reporting,concerning the formation of a new integrated

businessmodelandrisk

attention

paidreportinghuman capital and natural capital as well as

financial and non-financial reporting arefinancial capital, a problem of materiality

systematicallyconcept between IIRC Framework and GRI

possible in clearly explicated relationships.

Guideline,

appreciation

This research group raises additional issues

statement,

credibility

value-added

andexternalforandproblems

disclosure, implication of intellectual capital,

ofsuperstructure

tointegrated to

institutionalization

ofinwhichthe extent

integratedassurance with the process of shaping

reporting based on the “Comply or Explain”

integrated reporting, new trend of public

approach within the larger framework of thedisclosure

individual

overalljurisdictions, and clarification of the actual

system.

168

regulationsof

integrated

financialreporting