■ 国際会計研究学会 年報 2014 年度 第 1 号
Ⅳ

Summary of Articles

Diverse Opinions and Arguments on Mandatory
Adoption of International Financial ReportingStandards (IFRS) in Japan
Noriyuki Tsunogaya
Nagoya University

The purpose of this study is to explore
which

issuesareimportantboard

industries than from the Japanese Institutemembers of the Business Accounting Councilof Certified Public Accountants (JICPA).

(BAC) in expressing their opinions regarding

Also,

mandatory

International

mandatory adoption of IFRS was mostly

Financial Reporting Standards (IFRS). This

found in 2009 than in 2012 and 2013. The

study also determines whether there areresults

differences in either the level of support forarguments were cited by various groups inmandatory adoption of IFRS or arguments

different terms. The findings are especiallyused by various groups and different time

useful for the BAC, Accounting Standards

periods. Using a content analysis of relevant

Board

BAC meetings and Gernon and Wallace’s

Accounting Standards Board (IASB) and(1995) accounting ecology framework, thisrepresentatives of countries that plan to

study provides rigorous and holistic insights

adopt IFRS in the future because the study

into the debates concerning adoption of IFRS

shows that every country has different

in Japan. The results indicate significantly

motivations, policies, and backgrounds forhigher levels of disapproval of mandatory

the global convergence of financial reporting.

adoptionoftoaccounting academics and manufacturing

alowerlevel

furtherofJapanofshow

disapproval

that(ASBJ),ofdifferent

International

adoption of IFRS by representatives from179

The Statas Quo and the Problems of Many Setsof Accounting Standards in the GlobalizedEconomy
Isamu Iwasaki
Kyushu University

This paper shows the status quo and theproblems

ofaccounting

comparability without having the same

standards in the globalized economy. The

accounting standards and the same practice.

paper examines the problems from the point

So the paper suggests we should have manyof accounting-standards-setters, preparers

sets of accounting standards and compete

and uses of financial statements, and fromeach other to keep the standards highthequality.

point

manyofsetsofpaper shows it is impossible to get perfectcomparability

accounting-standards-selection.

180AndandtheDiversity in the Interpretation of Basic Conceptsunderlying the System of Accounting Standards
Masaki Yoneyama
The University of Tokyo

The purpose of this article is to clarify thedifferent hypotheses on the decision ofway the technical term “relevance” has beenstandard setters. One of them is as follows:interpreted in the accounting standards(1) Although remained unwritten in the

published by the IASB so far. This article

public documents, there exists a consensus

alsooramong members of standard setters on theIASB

decision model that the average investors

examines

measurement

thescheme

recognition
that(thebelieves) contributes to the improvement offollow,

the “relevance” of accounting information. It

information is consistently evaluated basedis hard in the academic sense to identify theon the consensus. The other one is as follows:

recognition or measurement scheme that

(2) Decisions on the “relevance” of accounting

contributes most to the improvement of theinformation can be arbitrary, because there“relevance” of accounting information if

is no “written” consensus on the decision

standard setters like IASB have only limited

model that the average investors follow. This

information about the decision model that

articlethe average investors follow, or limitedabove.

and“relevance”

comparestheseoftwo

accounting

hypotheses

information about the circumstances in

Empirical investigation finds that (a)which average investors make decisions.

there is no “apparent” contradiction among

Nevertheless, standard setters have madethe interpretations that the IASB put to theclear decisions on the best recognition or

abstract term “relevance,” but that (b) there

measurement scheme. This article is focused

is no evidence either that suggests theon the grounds upon which standard settersexistence of “coherent principles” underlying

make decisions about the recognition or

the interpretations for the term “relevance.”measurement scheme for improving theThe findings above is basically consistent

relevance of accounting information.

with the second hypothesis.

The research in this article depends on two181

A Study about the Definitions of Assets andLiabilities in the Discussion Paper ‘A Review of theConceptual Framework for Financial Reporting’Shigeho Nakayama
Aichi Gakuin University

This paper examines the definitions ofFramework.

assets and liabilities suggested in theThe suggested definitions are aiming for‘Atheincreasing potential items recognized as

Financialassets or liabilities by deleting probability

Reporting’ published by IASB in July, 2013.

criterion from existing definitions. ThisDiscussion

Paper

ConceptualFramework

Reviewforof

This paper clarifies what the Discussion

revisionsuggests

thatIASB

aims

for

Paper is aiming for and what kinds ofbroadening of financial information. But it

comments and views are shown in thewillcomment letters

Conceptual Framework as the conceptual

writtenby

accounting

standards setters. This paper also points out
the direction of the revised Conceptual

182

weakentheroleofthefoundation for standards setting.

revisedTrends and Backgrounds in the Development ofAccounting Standard for SMEs: Comparison
between Japan, Korea, and the United States
Sachiko Kushibe
The International University of Kagoshima

In August 2005, “The Guidelines ofAccounting Foundation) to FAF. This is

Accounting for SMEs” a sort of standard forassumed to be the first time the development

the accounting of SMEs, was published.

of the accounting standard for SMEs wasAfterofproposed. However, at present, another new

Accounting for SMEs” was published inaccounting standard for SMEs called FRF forFebruary 2012. “The Basic Guidance ofSMEs (Financial Reporting Framework for

Accounting for SMEs” was developed to

Small- and Medium-Sized Entities) waseliminate the effect of the IFRS and to reflect

developed. This is regarded as one of thethe enterprise attributes of SMEs.

OCBOA (Other Comprehensive Basis ofthat,“TheBasicGuidance

At present, two types of accounting
standards for SMEs are being developed in
Korea and the United States, the same as inJapan.

Accounting) previously applied to unlistedcompanies in the US.
As an international trend, IFRS for SMEs
(International Financial Reporting StandardIn Korea, “The Guidelines of Accounting

for Small and Medium-sized Entities) wasfor SMEs” for the unlisted companies waspublishedapplied in the fiscal year starting fromAccounting Standard Board) in July 2009.

2011.

However,theIASB(InternationalnewIFRS for SMEs is assumed to be developed

accounting standard for SMEs named “Theas one strategy to have full IFRS applied toBasic Guidance of Accounting for SMEs” wascountries all over the world. In this paper,

developed.

the trends in the development of theJanuary

1st,byIn the US, Blue Ribbon Panel report wasaccounting standard for SMEs in the threesubmitted by AICPA (American Institute ofcountries are clarified. Further, it is revealed

Certifiedin this paper how these trends correspond toPublicAccountants),

NASBA(National Association of State Boards oftheAccountancy),

attributes of SMEs.

andFAF(Financial

strategyofIASB andreflect the183

Measurement and Representation of Net Income inIASB-on the Discussion Paper A Review of theConceptual Framework for Financial ReportingEriko MaruokaChuo University

The problem of this paper is to study thedivisionofnetothernet income? Because IASB does not haverecyclingframework of other comprehensive and net

according to the Discussion Paper. Throughincome. DP proposes the division of net

this problem, to point out the position of net

income and other comprehensive income andincome in IASB.

recycling, though not satisfactory. Further

comprehensive

incomeincomeandrepresent net income; What does mean IASB’andAt first, IASB tries to reconcile profit ofbottom

comprehensive

forExposure

Draft.

Tentative agreement is to account for all

However in the process of the Reporting

profit and cost, to recycle all OCI, but

Financial Performance Project, IASB is toincluding

represents net income. IFRS calculates net

means that net income calculated in processincome into framework of comprehensiveof calculation of comprehensive income will

income.

be given semantic content.

Thetoholds

income.

184

line

discussion

problemarisesfromtorebuttablepresumption.

ThisDefinitions of “Related Parties” in Accounting
and Transfer Pricing Taxation-Focusing on Chinese CircumstanceLiu Gong Ping
Kwansei Gakuin University

This paper examines the difference of thedefinitionof“relatedbetween

The difference occurred inevitably because

accounting standards and transfer pricing

the objectives of the two agencies aretaxationdifferent. Furthermore, The Explanation ofregulations,parties”

published the anti-tax avoidance regulations.

especially

in

the

Chinese circumstance. To help the investor

Accounting

acknowledge

that

anentity’s

financialEnterprises 2010, edited by the accounting

statements

maybeaffectedbydepartment of CMF which is responsible for

theStandardsfor

Businesstransactions among related parties, China’ssetting

ChineseAccounting

Ministry of Finance (CMF) established themakes

themorerelated party disclosure standard “Chineserewriting the definition of related parties

Accounting Standard No. 36 (CAS 36)”, inwithout giving any notice. This paper aims towhich the meaning and the scope of thedemonstrate the difference clearly and torelated parties are defined. Meanwhile, topoint out the peculiarity of the Chinese

prevent

circumstance as opposed to the Japanese andtax

avoidance

throughthetransactions among related parties, China’s

issueStandards,

complicatedthe American circumstances.

State Administration of Taxation (SAT)

185

byComprehensive Examination on Accounting for
Assets in IFRS
Delegate: Masato Kikuya (Hosei University)
Members: Akira Ishii (Yokohama College of Commerce)
Hiroshi Ishiyama (Yamanashi Prefectural University)
Nobuhito Ochi (Bank of Japan)
Naoki Kobayashi (Tamagawa University)
Yoshinori Shimada (Iwate University)
Kazuyuki Shimanaga (Kobe Gakuin University)
Akiko Sugiyama (Toyo University)
Takayuki Nakano (Hosei University)
Kenji Hayashi (Nihon University)
Akiko Fujita (Meiji Gakuin University)
Yasunori Matsui (Rikkyo University)
Tooru Matsumoto (Senshu University)
Tomoya Yoshida (Saitama University)
Toshinobu Yoda (Hosei University)
Inthisresearch

project,accounting

non-current assets held for sale) (IAS41,policies for assets in IFRSs (including IASs)

IAS37,

are analyzed theoretically and empirically incomprehensively examined. For example, thecomparison

initialwithJapanese

accounting

IAS21, ｈrecognition

IFRS6,andIFRS5)

aremeasurement,standards. Some issues on accounting for

subsequenttangible fixed assets (IAS16, IAS20, IAS23,(amotization) and impairment, presentation

IAS29, IAS36, IFRS5), investment property

and disclosure are investigated.

remeasurement,depreciation(IAS40), leased assets (IAS17), inventory

At the time of remeasurement of tangible

assets (IAS2), intangible assets (IAS38),

fixed assets or investment property, the costfinancial assets (IAS32,

IAS39, IFRS7,

model or the revaluation (or fair value)

IFRS9) and special assets (biological assets,

model shall be chosen as the accounting

contingent assets, foreign currency assets,

policies under the provision of IAS16 andexploration

IAS40,

186

andevaluation

assets,whereastheapplicationofrevaluation(orfairvalue)modelisinventory assets and financial assets alreadyprohibited in Japan. Although IFRS requires

achieved international convergence in many

the reversal of impairment loss and economic

points.

criterion for recognition of impairment,

As the characteristics of accounting forJapanese accounting standard forbids theassets in IFRSs, mixed measurement model,

reversal and adopts the probability criterion

substance over form and principle basis areIAS

preferred for international investors.

requires

Japanesetheaccounting

reversal.
onMoreover,leasedassets,187