Japan is said to be on track for IFRS convergence by June

10/4/2010 | AccountancyMagazine.com (U.K.)

The International Accounting Standards Board and the Accounting Standards Board of Japan met last month to review Japan's progress toward converging the country's GAAP rules with International Financial Reporting Standards, a move that is reportedly on track for completion by June. Some Japanese companies will be allowed to prepare financial statements using IFRS from fiscal years that ended March 31, 2010.

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AccountancyMagazine.com (U.K.)