BAC report recommends greater use of IFRS in Japan
Posted by mostafa on 21 June, 2013
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Japan’s Business Accounting Council (BAC) met on 19 June 2013 to finalise its deliberations about the use of International Financial Reporting Standards (IFRSs) in Japan. Subsequent to the meeting, on 20 June, the BAC issued its final report, based on a series of BAC discussions. The report recommends a number of measures, and may result in four possible sets of accounting standards that could be used by Japanese public companies, including greater, but not mandatory, use of IFRSs or IFRS-based standards.