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Friday, July 27, 2007

J-GAAP: Quarterly Reporting

Did you know that Japanese listed companies will be required to publish quartery reports from April 2008?
Partly because the Tokyo Stock Exchange recommends companies to issue quarterly reporting (require for venture companies), even currently, many liste companies prepare quarterly reporting.
The Financial Instruments Act (formerly, Securities Exchange Act) states that quarterly reporting is mandatory for all registrants with Financial Services Agency (FSA).
The ASBJ has issued accounting standards for quarterly reporting. The FSA exposed for public comments in June 2007 a series of proposed regulations related to quartery reporting and auditing.Accountants are now very busy to be ready for 2008 quartery reporting.

1 comment:

Richard said...

Do you happen to have a summary of the special/simplified accounting methods for quarterly reporting in Japan? I can only find the statement in Japanese. Specifically relating to the deferral of manufacturing cost variances, the adjustment method of COS for the LIFO method and accounting for income taxes. Many thanks!