Japan 'designates' additional IFRSs
04 Mar 2010
In our News Story of 31 Jan 2010, we reported that the Financial Services Agency (FSA) of Japan proposed to update the list of IFRSs designated for use by companies voluntarily applying IFRSs in Japan to include the following IFRSs: IFRS 1 First-time Adoption of International Financial Reporting Standards (amendment) IAS 32 Financial Instruments: Presentation (amendment) IAS 24 Related Party Disclosures (amendment) IFRS 9 Financial Instruments IFRIC 14 IAS 19–The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction (amendment) IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments The FSA has now finalised that proposal.
Click to downloaded the (PDF 27k). Ordinances that FSA adopted on 11 December 2009 (see IAS Plus News Story allow Japanese listed companies that meet certain requirements to apply voluntarily, starting in financial years ending on or after 31 March 2010, IFRSs designated by the Commissioner of the FSA through public notice.
