Issuance of the amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”

July 25, 2016

In June 2015, the Accounting Standards Board of Japan (‘ASBJ’) issued “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”. JMIS was issued as a result of the endorsement process covering Standards and Interpretations (collectively referred to as ‘Standards’) issued by the International Accounting Standards Board (‘IASB’) as at 31 December 2012.

Since then, the ASBJ examined the Standards issued by the IASB during 2013, and today, the ASBJ issued the amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications” (hereinafter called the “the amendments to JMIS”), which was approved at its 341st Board meeting held on 25 July 2016.

The ASBJ issued and invited comments on the Exposure Draft on the amendments to JMIS on 17 March 2016. Having considered the comments received on the Exposure Draft, the ASBJ finalised the amendments to JMIS, with some modifications to the Exposure Draft.

How to access the amendments to JMIS

The amendments to JMIS and the related document are available below

• Issuance of the amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”
• Application of “Japan’s Modified International Standards” (full version)
• Application of “Japan’s Modified International Standards” (comparative version)
• ASBJ Modification Accounting Standard No. 2 “Accounting for Other Comprehensive Income” (full version)
• ASBJ Modification Accounting Standard No. 2 “Accounting for Other Comprehensive Income” (comparative version)

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