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What's New (May, 2010)

JICPA elects new Chairman and President

May 31,2010

JICPA held its 19th executive election following the deliberations by the nominating committee. On April 6, 2010 Mr. Shozo Yamazaki (presently Deputy President) was elected to be the Chairman and President for the three years commencing July 7, 2010, the date of the next general assembly.

Accounting guidelines for small and medium-sized entities (2010 edition)

May 31,2010

The Committee of Accounting Guidelines for Small and Medium-sized Entities amended, and released on April 26, 2010, "The Accounting Guidelines for Small and Medium-sized Entities". This committee was established by JICPA, the Japan Federation of Certified Public Tax Accountants' Associations, the Japan Chamber of Commerce and Industry, and the Accounting Standards Board of Japan (ASBJ). This year’s amendments were less extensive than in the past.

Accounting Standards Board of Japan (ASBJ) released its updated Project Plan

May 31,2010

ASBJ released, on April 12, 2010, the update of the project plan through to 2011, toward the convergence of IFRSs and Japanese Generally Accepted Accounting Principles (GAAP). The project plan was developed, after taking into account the IASB’s work plan from March 2010 to 2011. The ASBJ will up-date the project plan timely to keep pace with the progress of the IASB’s project.

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