2005 Fiscal Year Final Research Report Summary
A Study on the Economic Consequences of the International Convergence of Accounting Standards
| Project/Area Number |
16530309
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | Kwansei Gakuin University (2005)
Ryukoku University (2004) |
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Principal Investigator |
SUGIMOTO Tokuei Kwansei Gakuin University, Institute of Business and Accounting, Professor, 経営戦略研究科, 教授 (50206695)
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| Project Period (FY) |
2004 – 2005
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| Keywords | International Convergence of Accounting Standards / Internationalization of Accounting Standards / International Accounting / Securities and Exchange Commission (SEC) / International Accounting Standards Board (IASB) / IAS / IFRS / Committee of European Securities Regulators (CESR) / Reconciliation |
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| Research Abstract |
The Purpose of this research is to explore the international convergence of accounting standards and its economic consequences.
Many companies around the world are using International Financial Reporting Standards (IFRS) promulgated by the International Accounting Standards Board (IASB). In accordance with the mandate of the European Commission (EC), from January 2005, regional or domestic companies in the European Union (EU) are required to prepare their consolidated accounts using International Accounting Standards (IAS) or IFRS.
The Committee of European Securities Regulators (CESR) completed its assessment of the equivalence of accounting standards in the Canada, Japan and the United States of America (US) with IFRS and published the technical advice on equivalence of Canadian, Japanese and US GAAP. It found that Canadian, Japanese and US GAAP, taken as a whole, are equivalent to IFRS subject to some additional disclosures.
To achieve the research purpose, the legal status of IFRS in the EU is examined and the convergence of accounting standards, from the political and historical point of view, is evaluated. In addition, case of the strategies of the international convergence of accounting standards in other nations, that is US, Japan, the Republic of Korea and the People's Republic of China, particularly were compared.
According to this research, the Securities and Exchange Commission (SEC) and CESR and/or EC play an important role in the international convergence of accounting standards.
As apart of this research, head investigator made a translation of Korea Accounting Institute (KAI) Research Report and the Standard of the Internal Accounting Control System in Korea into Japanese.
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[Book] 国際会計2006
Author(s)
杉本徳栄
Total Pages
217
Publisher
同文舘出版
Description
「研究成果報告書概要(和文)」より
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