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

ASBJ revises Accounting Standard for Consolidated Financial Statements and related Implementation Guidance and Practical Solution

The Accounting Standards Board of Japan (ASBJ) has today issued the following revised pronouncements.

  • Revised Accounting Standard for Consolidated Financial Statements (ASBJ Statement No. 22)
  • Revised Guidance on Disclosures about Certain Special Purpose Entities (ASBJ Guidance No.15)
  • Revised Guidance on Determining a Subsidiary and an Affiliate (ASBJ Guidance No.22)
  • Revised Practical Solution on Application of the Control Criteria and Influence Criteria to Investment Associations (ASBJ PITF No.20)

The primary purpose of those amendments is to provide a short-term improvement to the existing standards to address current treatment for certain special purpose entities.
Those amendments will be effective for the annual periods beginning on or after April 1, 2013. Early application is permitted.

The documents are available in Japanese only.