Japan updates list of 'designated' IFRSs

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17 Nov 2014

The Financial Services Agency (FSA) of Japan has announced that additional IFRSs were designated for use by companies voluntarily applying IFRSs in Japan. The announcement effectively includes all IASB pronouncements issued up to 30 June 2014.

Newly designated IFRSs include:

  • IFRS 14 Regulatory Deferral Accounts;
  • IFRS 15 Revenue from Contracts with Customers;
  • the amendments bringing bearer plants into the scope of IAS 16;
  • the amendments regarding the clarification of acceptable methods of depreciation and amortisation; and
  • the amendments regarding the accounting for acquisitions of an interest in a joint operation.

Click for the FSA press release (in Japanese only, link to FSA website).

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