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
Application of “Japan’s Modified International Standards” (full version)
Application of “Japan’s Modified International Standards” (comparative version)
Please review the NOTICE here when using the materials on this webpage.
