■ 国際会計研究学会 年報 2014 年度 第 2 号
Ⅲ

Summary of Articles

Current Situation and Series of Responses to theAdoption of IFRS in Japan since 2009
Tatsumi Yamada
Partner, KPMG AZSA LLC

In this article, series of responses toadopting International Financial Reporting

be effective in 2015 or 2016.
However,

there

had

not

been

much

Standards (IFRS) by Japanese Government

progress from 2011 to 2013 until the BAC(Business Accounting Council: BAC) haveissued its report in June 2013. This BAC

been explained, together with issues related

reportto the needs for human resources who haverestrictions in order to expand voluntaryadequate knowledge and experiences ofapplication, which is a change of the policy

IFRS and can deal with practical issues thatby the BAC. In addition, the report proposesarise from implementation of IFRS. Thesea creation of Japanese version of IFRS,

two main issues are addressed in this article.

which is now called the Japan’s Modified

In order to expand application of IFRS byincludes

International

proposalsStandards

thatreduce(JMIS).

TheJapanese listed companies, the BAC interim

number of the companies which have alreadyreport, issued in June 2009, proposed theapplied and will apply IFRS is now 90, andfollowing;

this trend is expected to increase.

(a) A voluntary application by Japanese

In order to implement IFRS smoothly incompanies should be allowed from theJapan,

fiscal year ended March 2010.

knowledge and experiences are needed.

(b) Whether a compulsory application
should be required will be determinedhumanresources

withdeep

Some systematic training and education areneeded to have such human resources.

in 2012 and, if it is required, it should93

Ethics Standards Applicable to Audit Firms
Atsushi KatoCPA,Board Member ofInternational Ethics Standards Board for Accountants(IESBA)

Global ethics standard for professional
accountants,

theCodeofEthicsforentity) and nature of business (e.g. audit,non-audit service, consulting, tax, internal

Professional Accountants, is set by theaudit,

International Ethics Standards Board forteacher ). However, I will discuss the ethics

Accountants (IESBA) which is one of fourstandard applicable only to audit firms as

standard setting bodies of the Internationalrequested by the organizer of this panel

Federation of Accountants (IFAC). I amdiscussion about the following matters;presently a board member of IESBA. This・Relationship

Codeisapplicabletoall

professional

company’s

employee,

betweenacademic

globalethicsstandards and Japanese ethics rules

accountants regardless where he/she is・Ethics standards applicable to audit firms

working for (e.g. audit firm, individual・Globalpractitioner,

profitprivatecompany,

educational organization, nonprofit public94

movements

regardingstandards applicable to audit firms
・Topics need to be considered

ethicsThe Influence of Heath’s Cash Flow Accounting
Theoryon
IASB’sFinancial
Statement
Presentation ProjectEiju Nikawa
Chubu University

Loyd C. Heath set a high value onan entity to provide a statement of cash

evaluation of solvency as well as evaluation

flows which classifies cash receipts andofpayments into the activity categories andprofitability

andrecommended

thefollowings.

related disclosures. It also encourages an(1) The statements of cash flows, financing

entity to use the direct method. On the otheractivities and investing activities should

hand [Draft], IFRS X Financial Statement

be prepared.

Presentation requires that an entity shall(2) The statement of cash flows should reportclassify items into the activity sections,
categories and subcategory in the statements

all cash receipts and payments.
(3) The statement of financing activities

of financial position, comprehensive income

should report all changes in the capitaland cash flows in a manner that is consistentstructure.

across those three statements. It also

(4) The statement of investing activities(5)

requiresthat

anpresent

long-term

items

short-termin long-term investments.

separately in each category within its

assetsandclassification

liabilities

shouldandshallshould report all increases and decreases
Current-noncurrent

items

entityofstatement of financial position. Besides, itberequires that entity shall use the direct

discontinued.
(6) Liabilities should be classified into

method.

Asmentioned

above,[Draft]substantially accepts the majority of Heath’s

operating liabilities, tax liabilities andrecommendations,financing liabilities.

financial statements. It also solves some(7) A schedule of receivables and payables
should be prepared.

therebyimproves

confusion on the classification of the cash
flow items in FAS95.

FAS95, Statement of Cash Flows requires

95

Change of the Basic Thought over the Definition
and Recognition of Components of Financial
Statements, and Change of Function of theConceptual Framework-With a Focus on the IASB’s Conceptual
Framework ProjectYukinori Ikeda
Aichi University

In this paper, I discuss the change of thebasic

thoughtrecognition

overofthedefinition

componentsofandfinancial

manyissues,derecognition,suchandasuncertainty,
liability-equity

distinction, are issues of standard-setting

statements, and the change of a function oflevel.

the conceptual framework, based on theframework is not so much functional.

current IASB conceptual framework and theon-going

IASB

conceptual

framework

project.

Intheseissues,theconceptualThen, I discuss that the function of theconceptual framework as a meta-standard isreduced, and that IASB's discretion in

IASB initially was trying to strengthen thestandard setting is increasing. As thatfunction of the conceptual framework as abackground, I point out a change of attitude

meta-standard, in its conceptual framework

toward standard-setting by the alternation

project. Currently, however, probability andof IASB chairman. Finally, I insist that thereliablecurrentfunction of conceptual framework as aconceptual framework are deleted in IASB

meta-standard should be strengthened, and2015 exposure draft Conceptual Framework

point out that the conceptual framework

for Financial Reporting, as a result, thewhich is not so much functional as afunctionmeta-standard is meaningless.

measurementofconceptualintheframework

isdeteriorated related to recognition. Moreover,96

Characteristics and Implication of Approaches toProfit or Loss and Recycling Proposed by IASB
Junko Saino
Kansai UniversityIASBpaper“AFramework

forHowever IASB does not give full support

Financial Reporting” in 2013 and staff paper

to profit or loss and recycling. We have toin 2014. The DP and staff paper show IASB’scontinue to watch discussion by IASB.

Review

publishedof

preliminary

discussion

Conceptual

Conceptual

To consider development and direction ofFramework should require presentation of

discussion on profit concepts under IFRS,

profit or loss as total or subtotal and that

this paper shows outline, characteristics,

also results, or could result, in some items ofand implication of approaches to profit orincomeloss and recycling by IASB.

orview

expensethatIASB.

beingrecycled.

Itrepresents a shift from previous positon of97

Standards-setting Strategy and its Activity ofInternational Accounting Standards Board
from 2011 to 2013
Kensuke Ogata
University of Nagasaki

Since July 2011, the IASB diminished thefor financial regulations since the financial

published standards; and the contents werecrisis. Next, I confirmed what kind ofintended to reduce preparation costs oforganization the IASB constructed using

companies’ financial statements, for example,social network analysis. The results showed

guiding or simplifying existing accounting

the following two points. The first is the shifttechniques,ofandproviding

exemptions,coreactors

insidetheIASBfromprofessions

tointernational

instead of fulfilling quality and quantity ofaccounting

accounting information for investors. Toorganizations and preparers. The second is

make clear the factors which caused thethe change of geographical balance from

IASB

standard-setting

Europe and Asia/Oceania. In sum, the IASB

activities, I at first conducted text analysis

built up the organization in which muchfor descriptions of Annual Reports with anbroader range of actors, in the sense ofintention of confirming how the IASB

geographicallyrecognized its standard-setting environment.

embedded than ever. Therefore, it seems that

According to the results, the Board changed

the IASB recognized the necessity for

itstochangerecognition

development

for

its

and

occupationally,

werefromthetechnical

enhancing

gaining

thetrusts

international organizations and a wide rangeof

thepartnerships

withinvestors to the review of existing rules andof

the coordination for interests of a wide range

occupationally; to do so, it built up theof stakeholders who were influenced by theseorganization in which these actors wererules. The underlying reasons for thisembeddedchange could be the strong supports fromstandards-setting activities to satisfy with

European actors and the rapid approaches totheir needs at the sacrifice of investors’ ones.

some actors inside the international network98

stakeholders

andgeographically

performeditsand

cautious