Accounting Standards Board of Japan
Financial Accounting Standards Foundation
Sustainability Standards Board of Japan

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

31 October 2017

The Accounting Standards Board of Japan (‘ASBJ’) undertakes the endorsement process on the Standards and Interpretations (collectively referred to as ‘Standards’) issued by the International Accounting Standards Board (‘IASB’) and issues “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”.  To date, JMIS has been issued as a result of the endorsement process covering Standards issued by the IASB as at 30 September 2016 which become effective by 31 December 2017.

For this round the ASBJ undertook the endorsement process mainly on IFRS 15 Revenue from Contracts with Customers.  Today, the ASBJ issued the amendments to “Japan’s Modified International Standards (JMIS): Accounting Standards Comprising IFRSs and the ASBJ Modifications”, which was approved at its 371st Board meeting held on 26 October 2017.

The ASBJ issued the Exposure Draft on the amendments to JMIS for public comment on 20 June 2017. 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 documents 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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