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Students: Tomescu Viorica, Mamaliga Lina
Coordonator: Lector Sup. L. Erhan
GDP
In 2012, Japan
was ranked 3rd
in the world in
the amount of
gross domestic
product by 4.3
trillion $
Amortization of goodwill:
JGAAP: Goodwill is recognized as an asset and is amortized
on a systematic basis over a period of 20 years or less
IFRS: Goodwill is not depreciated
In August 2007, the Accounting Standards Board Japan
and the IASB announced their agreement to accelerate the
convergence by eliminating major differences between
GAAP Japan and IFRS by 2008 and the remaining by the
end of 2011.
Japanese authorities have imposed no obligation to
reconciliation
Community issuers that prepare their financial statements in
accordance with IFRS. Therefore, it was considered
appropriate,
from 1 January 2009 to consider that Japanese GAAP
equivalent to IFRS adopted.
Since the end of World War II, the Japanese economy has undergone tremendous
development, but it is the authors opinion that the accounting structure in Japan
has not kept pace with its own economic growth. For example, the practice of
publishing interim financial statements as part of the financial reporting of a
business was adopted only ten years ago, and consolidated financial statements
have only recently been required. As of yet, cash flow statements and value-added
statements are not included among published financial statements. Although
Japan ranks economically among the leading nations of the world, its financial
reporting is inadequate.
Since the end of the 1960s, an inter-national revolution in financial reporting
with economic income measurement giving ground to an informational approach,
has been in progress. In Japan, there also has been much interest in this
informational approach, but as yet there is little evidence that this approach soon
will replace economic income meas-urement. A more likely scenario is one in
which ever-increasing foreign investment in Japan and Japanese investment
abroad will force a gradual but definite evolutionary change or adaptation upon
the accounting structure in Japan. Future development of Japanese accounting
will be of special interest to accounting historians as international investment
patterns involving Japan become more complex.
Bibliographic sources:
Contabilitate internaional, Neculai Tabara, Emil Horomnea, MirelaCristina Mircea
http://www.hp.jicpa.or.jp/english/
http://eurlex.europa.eu/Notice.do?
mode=dbl&lang=en&ihmlang=en&lng1=en,ro&lng2=bg,cs,da,de,el,en,es,et
,fi,fr,hu,it,lt,lv,mt,nl,pl,pt,ro,sk,sl,sv,&val=485600:cs
http://businessday.ro/03/2011/economia-japoniei-in-cifre-1970-2010/