What's New

"Accounting guidelines for small and medium-sized entities (2007 edition)" issued

The Committee of Accounting Guidelines for Small and Medium-sized Entities amended "The Accounting Guidelines for Small and Medium-sized Entities" and released them on May 2. This committee was established by JICPA, the Japan Federation of Certified Public Tax Accountants' Associations, the Japan Chamber of Commerce and Industry, and the Accounting Standards Board of Japan (ASBJ).
Since the previous amendment of these guidelines in April 2006, the ASBJ has issued or amended a number of accounting standards. Of these, ASBJ Statement No. 10 "Accounting Standard for Financial Instruments" and PITF No. 19 "Tentative Solution on Accounting for Deferred Assets" were addressed in the 2007 edition. References to these standards were also revised accordingly.
The guidelines are available in Japanese only.