ASBJ releases Exposure Drafts of Proposed Amendments to Accounting Standard for Consolidated Financial Statements and related Implementation Guidance and Practical Solution

The Accounting Standards Board of Japan (ASBJ) has today released for public comment the following Exposure Drafts:

Amendments to ASBJ Statement No.22 Accounting Standard for Consolidated Financial Statements (Exposure Draft of Statement, No.44)

Amendments to ASBJ Guidance No.15 Guidance on Disclosures about Certain Special Purpose Entities (Exposure Draft of Guidance, No.39)

Amendments to ASBJ Guidance No.22 Guidance on determining a subsidiary and an affiliate (Exposure Draft of Guidance, No.40)

Amendments to ASBJ PITF No.20 Practical Solution on Application of the Control Criteria and Influence Criteria to Investment Associations (Exposure Draft of PITF, No.35)

These Exposure Drafts propose limited amendments to the existing standards to address current treatment for certain special purpose entities.

The comment deadline is November 4, 2010.

The document is available in Japanese only.