IFRS (International Financial Reporting Standards)
The International Financial Reporting Standards, or IFRS, is a framework for a global accounting standard developed and published by the International Accounting Standards Board (IASB).
Why IFRS? Why consider adoption?
A global standard
A single global accounting standard was envisioned to allow investors to use the same yardstick to compare companies across the world. Today, accounting standards worldwide are converging toward IFRS.
Expected Benefits of IFRS Reporting
Attract more global risk money
Different accounting standards across jurisdictions make it harder for investors to conduct peer comparison and analysis. By offering a common global standard, IFRS makes it easier for investors to compare and analyze Japanese companies with their global peers and invest in the Japanese market.
Faster investment decisions
Financial reporting based on a common accounting standard allows investors to better compare key information and make decisions more efficiently.
More efficient financial reporting
Multinational companies with subsidiaries worldwide are able to streamline the process of preparing consolidated financial statements and ensure consistent reporting quality by applying a single standard across the entire corporate group.
Voluntary Application of IFRS (current and scheduled)
For lists of voluntary application of IFRS (current and scheduled), please see the page below.