042 Discussion about accounting standards for unlisted companies
“Discussion about accounting standards for unlisted
companies” has been held several times since March 2010,
and they submitted the result as “a report on discussion
about accounting standards for unlisted companies.”
Globalization of accounting standards has been seen
everywhere towards its realization. The same situation can
be also seen in Japan, where Japanese accounting standards
has been hurriedly made to step closer to International
Financial Reporting Standards (IFRS) as a convergence.
However, needs of unlisted companies differ from listed
companies. Therefore, they are considering whether or not
the converged accounting standards should be applied to
unlisted companies. In the discussion mentioned above
they discussed how it should be, widely considering the
reality, situation and their characteristics of unlisted companies.
This report also has a “guideline of accounting standards
for Small and Medium Enterprises (SMEs),” which has been
designed to improve the quality of SMEs’ accounting and
shows one of the directions as accounting standards that
they can apply.
