So sánh chuẩn mực kế toán nhật bản và IFRS (word)

JGAAP-IFRS comparison English version [equivalent of Japanese version 4.0] Contents Contents Introduction Presentation of Financial St ate ments, Accounting Policies, Changes in Accounting E st i ma t e s and Errors, Assets Held for Sale and Discontinued Operations Consolidation Equity Method 14 Joint Ventu res/Arrangements 17 B u s in e s s Combinations 18 Inventory 21 Intangible Assets a nd Research and Development C o s t s 23 Fixed Assets 26 Investment Property 29 Impairment of a s s e t s 31 Lea se s 33 Financial Inst rument s 36 Foreign Currency 56 Income Tax 60 Provision s and Contingencies 64 Construction Con tracts 67 Revenue Recognition 68 Sha re-Ba sed Payments 71 Employee Benefi ts, excluding Sh ar e-Ba sed Pa yments 74 Appendix - The Adoption of IFRS in Japan 78 Appendix - IFRS Related Resou rces 79 Introduction To d a y , in a move toward s i mproving the comparability of fi nancial s tatements and to reducing the costs of raising capital in international market s and so on, count ries around the world are co nverg i ng their national accounting standards wit h Internatio nal Financial Reporting Standards (“IFRS”) o r are adopting IFRS itself In J a p a n too, The Accounti ng Standards Board of J a p a n ( “A S B J” ) and t he International Account ing Standards Board (“IASB”) concluded the “Tokyo A g re e m e n t ” in A u g u s t 20 07 and agree d to the acceleration of co nverg e n ce Specifi cally, it outli ned that t he signifi cant diff erences b et wee n Ja p a n e s e generally accepted accounting princ iples (“JGAAP”) and IFRS would be eliminated b y t he end of 20 08 and that the remai nin g diff erences would be eliminated b y 30 June 2011 T h ro u g h the co nverg e n ce projec t consistent with that ag ree me nt , the diff erences be tw e e n IFRS and JGAAP a re eliminated considerably Fu r t h e rm ore , in Fe b r u a r y 00 t he Financial Services A g e n c y of J a p a n issued a proposed roa d ma p f or adopting IFRS, and serious consideration of adoption of IFRS in J a p a n comme nce d There are still a n u m b e r of diff erences b et w ee n JGAAP and IFRS b ecause c onve rge nce based on the “Tokyo A g re e me nt ” is ongoing and as revisions continue to b e ma de and n e w standards issued in IFRS In this booklet, we outline t he diff erences be tw e e n t he t w o sets of standards b y accounting topic It is n ot possible to describe comp re he nsive ly every diff er ence which could arise in accounting f or all transactions, and we h a v e focused as m u c h as pos sible o n those diff erences whi ch are considered to be mo st c o m m o n in c urre nt practice We h a v e taken care in preparing this booklet However as the infor mation is summarised, this booklet is intended to be used as general guidance only and is n ot intended to be used as detailed advice o r in place of professional judgment Please ref e r to the original texts f or the detailed guidance Also, we re c o mm e nd that you consult with sp ecialists about particular JGAAP IFRS Account ing Differenc (Regulation f o r Te rmi no l o g y , Fo(IAS1 r 38, 39) ► Significant periods require m s Comparative information, at a es d and Preparation of Consolidatedminimum f o r one previous perio to be presentedFinancial Statements: Presentatid, shall be disclosed f o r all amo unt s on) The prior period and the c u rre ntre ported in the fi nancial stateme nts period consolidated fi nancial statements m u st be presented Compone nt s of (Regulation f o r Te rmi no l o g y , Fo(IAS1.10) r fi nancial The following stateme nts m u st ms statements and Preparation of Consolidatedbe Financial Stateme nts: Presentatiprepared ※1: ,2 on) The following statements ( ※1 ) m► Stateme nt of Financial Positio ust n be prepared: ► Consolidated Balance Sheet ► Stateme nt of Compre he nsive Income (a single stateme nt ► Stateme nt of Consolidated Compre he nsive Income (a sin approach) ※4 o r an Income gle Stateme nt and a Stateme nt state me nt approach) o r an f Income State me nt and a O t h e r Compre he nsive Incom Stateme nt of O t h e r e (a Compre he nsive Income (a t w t w o stateme nt approach) ※3 o ► Stateme nt of Changes in Equi state me nt approach) ( ※2) ty ► Consolidated Stateme nt of► Stateme nt of Cash Flows Changes in Shareholders’ ► Account ing Policies and O t h e r Eq uit y E xpl a nat or y Inf ormation ► Consolidated Cash Fl ow ※1 Titles ot h e r than those listed Stateme nts ► Consolidated Sup ple me ntarya b ove may be used f or these Inf ormation statements ※1 E v e n if an entit y applies an ※2 If an e ntity applies an account accounting policy retrospectiveling y, policy retrospectively, makes a makes a retrospective restate mretrospe cti ve restate me nt of ite e nt of ms in items in its fi nancial statements its fi nancial statements o r reclas or sifi es reclassifi es items in its fi nancial items in its fi nancial statements, statements, it does not need to it prepare an opening balance shem u st prepa re an opening balanc Presentation of Financial Statements, Accounting Policies, Changes in Accounting Estima tes and Errors, Assets Held for Sale and Discon tinued Operations JGAAP IFRS Presentation of(Regulation f o r Te rmi no l o g y , Fo(IAS1.87) r extra ord i na ry m s N o profi t o r loss items are allowe gains and lossesand Preparation of Financial d to be presented as extr a ordi nar y Stateme nts 62,63) Items related to extr a ordi nar y ems in the state me nt of comprehe nsi ains ve and losses are presented b y ca t e Other In principle, it is n ot expected th ( IAS 1.95,96) comp re he nsiveat Certain items a re recognised in income not t he re will be items of comp re he nt he r reclassifi ed to sive comp re he nsive income and are profi t o r loss income that, as in IFRS, will not n ot reclassifi ed to profi t o r loss in e subsequent periods reclassifi ed to profi t and loss subsequently (Revised standard IAS 2A ) Within ot h e r comp re he nsive inc ome items which will n ot be reclassifi ed subsequently to profi t o r loss; an d Presentation of(Regulation f o r Te rmi no l o g y , Fo(IAS1.83) r t he total of (revised standard IAS 1.81B) ms profi t/loss and and Preparation of ConsolidatedProfi t ( o r loss) and total comp re he nsiveFinancial Statements 65 7.2comp re he nsive income f or t he income eriod ) attributable to Profi t (o r loss) attributable to attributable to non-controlling minorit y minorit y interests is presented interests shall be presented interests f or the n t he re porti ng perio consolidated profi t and loss d statement ( comprehe nsi vThe amo unt of comprehe nsi ve e income attributable to o w n e r s of De part ure f ro mN o such rule exists (IAS1.19) a re quire me nt In the ex t re m e l y rare circumsta f nces a standard to in w hi ch compliance with a gi ve a fairer re quire me nt in an IFRS would be presentation so misleading that it would confl ict wit h o r be c o n t r a r y to t he Fr a m e w or k f or t he Preparation and Presentatio No n- c urre nt There a re no specifi c rules (IFRS5.6,15) assets classifi edH o w e v e r , u nd e r t he Standard f oIf the ca rr yi ng value of assets wil as held f o r sale r t he l be (and disposal Impairment of Fixed Assets, not re c ov e re d principally t hro ug h a group s) e 2, sale as examples of indicators of transaction t her t han t h ro u g h impairment, disposal of a businecontinuing use, t he asset ( o r dis ss posal operation and restructurings, g roup ) shall be classifi ed as held disposal earlier t han initially plan f or JGAAP IFRS Eq uit y settled (Accounti ng Standard f or (IFRS2.10-13) share based Share-based Pa y m e n t 6,14,15) ► Tra nsactions wit h employees p a yme nt s – ► Tra nsactions wit h employees : m e a s u re me nt : me a sure at t he fair value of me t hod he Stock options at gr a nt date: equity instrume nts grante d me a sure using a widely acce pted m e a s u re me nt technique tha► Tra nsactions wit h parties ot h t er gives a reasonable estimated value t han employees: me a sure at the ► Tra nsactions wit h parties ot h fair value of the goods or er services received O n l y w h t han employees: calculate us e re ing t he fair value of t he goods o r w h i c h e v e r of the t w o met ho services received cannot be ds estimated reliably, mea s ure below gives the mo st reliable at valuation: t he fair value of t he eq uity instruments granted ► fair value of the stock option (o r stock) used as consideration; (IFR S2.24) If the fair value (Accounti ng Standard f or Share-based Pa y m e n t 13) In re cases, if the fair value of of the equity There a re no specifi c rules he instruments H o w e v e r , f or unlisted companieequity instrume nts cannot be gra nted cannot s, it is estimated reliably at the be estimated possible to account f or stock optm e a s u re me nt date, the equity reliably ions instruments are measured at th based o n the estimated intrinsiceir val ue per option, as a substituteintrinsic value T his is measured f or initially at the date the e ntity obt fair value In this case, the intrinains sic t he goods o r t he co unt er p art y val ue per option at the gr a nt datre nder s service, and subsequen e is tly at estimated, and is not revised lateach rep orting date and at t he er ate of fi nal settlement, with a n y cha nge in intrinsic value recognised in rofi t Eq uit y There a re no specifi c rules (IFR S2.22) instruments wit Fo r options with a reload feature h , the reload f eat ure reload f eat ure shall n ot be taken into account w h e n estimating t he fai r val ue of options grante d at t he m e a s u re me nt date Instead, a re 72 load option shall be accounted f or as JGAAP IFRS Tre a t m e n t after(Accounti ng Standard f or (IFR S2.23) vesting date Share-based Pa y m e n t 8) The entit y shall ma ke no subseq If an option is exercised and n e wuent stock is issued, the portion of t h adjustment to total eq uity after e vesting date H o w e v e r , this a m o u nt recorded as share w a rr a re quire me nt does not preclude nts he that relates to the exercise of the ntity f ro m recognising a transf e er Cancellation o r There a re no specifi c rules (IFR S2.28) settlement of ► Ac c o u nt f or the cancellation g nt or settlement as an acceleration of vesting; ► Any p a yme nt made o n the cancellation o r settlement of t he g nt shall be accounted f o r s t he rep urchase of an equity interest H o w e v e r , to the ex t e nt that the p a yme nt exceeds t h e fair Lap se due to no(Accounti ng Standard f or (IFR S2.23) Share-based Pa y m e n t 9) N o adj ustment is made to the exi n W h e n options lapse because t h esting exercise of y are equity balance H o w e v e r , an e options n ot exercised, the portion of t hentity a m o u nt recorded as share w a rr a is n ot precluded f ro m recognisin nts ga (o r options) that relates to thosetr a nsf er within equity options is transf erred as a gain 73 Employee Benefits, excluding JGAAP IFRS ► Significant differenc Defi ned Benefi t(Accounti ng Standard f or Retire(IAS19.64,67) es Pension Plans –ment (Revised standard IAS 19.67, 70) Benefi t Obligations In principle, t he Projected Unit Cr Benefi ts 2, Practical Guidance o n Account inedit Method (accr ued benefi t valuati g f or on Retire me nt Benefi ts 2) In principle, t he value of accruedme t hod ) shall be used H o w e v e r , benefi t obligations is calculated t he straight-line me t hod is required using t he straight line method O t h e r if method s such as a payroll basis,e mp l oyee service in later y e a r s eads a Defi ned Benefi t(Accounti ng Standard f or Retire(IAS19 58) Pension Plans –ment W h e re t he re is a surplus of pensi Plan Asset s on Benefi ts Note 1) W h e n pension plan assets exceeplan assets o v e r obligations, an sset d ret ire me nt benefi t obligations, is recognised up to the limit of t h e he diff erence is recognised as a pretotal of: a) a n y unrecognised net actuar paid ial pension expense losses and past service costs; and b) t he present value of a n y economic benefi ts available s ref und s f ro m the plan o r reductions in f ut ure contribut ions to the plan (the asset ceiling) (Revised standard IAS19.64) W h e n an entit y has a surplus in defi ned benefi t plan, it shall me a s ure t he net defi ned benefi t asset at he l ow er of the surplus in the defi ne d benefi t plan and the asset ceiling 74 Share-Based Payments JGAAP IFRS Defi ned Benefi t(Accounti ng Standard f or Retire(IAS19 78) Pension Plans - ment (Revised standard IAS 19.83) Discount rate Benefi ts partial revision (3) 2, NoThe following proced ure is follo wed tes to the same standard 6) There is n o hi e rch y with w hi c The rate used to discount post-employment benefi t h to obligations consider t he discount rate The discount rate is determined(both f unded and unf unded) shal l be based o n the interest rates of hig determined b y ref erence to ma r hly stable long t e r m bonds T hi s is thket yields at the end of the rep orting e interest rate at period end availaperiod o n high quality corp orate bonds in a c u rre n c y and with a ble ma t ur i t y consistent to the benef o n long t e rm g o ve rnm e nt , g ove rnme nta l institution and higit obligations In countries w h e re h Defi ned Benefi t(Accounti ng Standard f or Retire(Revised standard IAS 19.123) Pension Plans –ment The net interest on the net defi n Expected Re t urBenefi ts 2(3)) ed n The expected re t ur n o n plan assbenefi t liability (asset) shall be Rate determined b y multiplying the n ets is calculated pe r individual pensionet defi ned benefi t liability (asset) b plan y the asset at the beginning of t he peri Defi ned Benefi t(Accounti ng Standard f or Retire(IAS19 96) Pension Plans –ment In cases w h e re benefi ts h a v e alr Past Service eady Benefi ts 3,2) Cost In principle, past service costs arvested, an entit y shall recognise the e recognised as expenses, and arerelated past service cost immedi ately amortised o v e r a fi xed period (wi In cases w h e re vesting is not thin t he period of the remaining a ve rimmediate, an entit y shall recog nise age t he related past service cost as service lives) n The amortisation periods f o r pas expe nse o n a straight-line basis t over service costs and f or actuarial ga t he a ve r a g e period until the ben ins and losses may be determined efi ts be come vested separately Fo r actuarial gains and losses, amortisation may c om me n c e f r(Revised standard IAS 19 10 3) An entit y shall recognise past se om t he period following the period rvice which t h e y arose, h o w e v e r this cost as an expense at the earlier of s not allowed f o r past service costs t he following dates: a) w h e n the plan ame nd me nt (Accounti ng Standard f or Retirer curtailment occurs; and 75 ment b) w h e n t he entit y recognises JGAAP IFRS Defi ned Benefi t(Accounti ng Standard f or Retire(IAS19 92,93A,93B, 93D) Pension Plans –ment It is possible to chose a n y of the Actuarial GainsBenefi ts 3, 2) follow accounting policies: and Losses (Accounti ng Standard f or Retire► The corrid or met hod: actuari ment al Benefi ts Note 9) diff erences within a certain In principle, actuarial gains and “corridor ” a re not recognised osses a re recognised as expenses and ► However an e ntity may reco amortised o v e r a fi xed period (wi gnise thin these diff erences in profi t an t he period of the remaining a ve r d age loss faster than over the service lives) expected a ve r a g e remaining As pe r t he above, t he amortisati w or ki ng lives of the employe on es, periods f or past service costs an provided that it consistently d f or uses actuarial gains and losses may a systematic method e ► An entit y w hi ch selects an determined separately accounting policy to recognis e Fo r actuarial gains and losses, t he actuarial diff erences in t h amortisation may c om me n c e f r e om period in w hi ch t h e y occur, t he period following the period may which t h e y arose recognise the diff erences out side t he profi t and loss account, in ot h e r comp re he nsive income (Revised standard IAS 19.8, 57, Defi ned Benefi t(Accounti ng Standard f or Retire(Revised standard IAS 19.120) Pension Plans –ment An entit y shall recognise t he E xpe nse comp one nts of defi ned benefi t Benefi t 3,1) ost, C u rre n t service cost and interest except to the ext e nt that a not he cost a re expensed as t he compone ntr IFRS requires o r permits their s of defi ned benefi t cost and if the inclusion in t he cost of an asset, pension plan is funded, the c urreas follows: nt a) service cost in profi t o r loss; expected re t u rn on the plan asse b) net interest o n the net defi ne ts d shall be deducted benefi t liability (asset) in prof it o r loss; and c) re me a sure me nt s of the net defi ned benefi t liability (asset ) in ot h e r comp re he nsive income 76 Minimum funding re quire me nt JGAAP There a re no specifi c rules IFRS (IFRIC14.18-26) In some cases, to protect employ ees, a minimum level of funding is required b y t he plan o r the law Such funding re quire me nt s are alled minimum funding requirements If the minimum funding req ui reme nt larger tha n the actual plan asset There is n o short-cut met hod Defi ned benefi t(Implementation Guidance on pensionFinancial Instrume nts 34) conve nie nt Small sized entities are permitte me t hod d to account f o r re ti re me nt benefi t obligations using t he conve ni ent me t hod o r t he short-cut method Retire me nt There a re no specifi c rules (IAS19.1, 3,6) benefi ts ot her (Revised standard IAS19,2, 4,7) t han pensions With t he exception of those bene fi ts c o ve re d b y IFRS2 (Share Based Pa y me nt ) , all e mp l oye e ret ire m e nt benefi ts ot her t han pensions are also within t he scope of IAS19 Paid vacation There a re no specifi c rules (IAS19.11-16) accrual Provisions f o r accumulating compensated absences m u st be recognised 77 Appendix - The Adoption of I FRS in Japan Since 2001, t he re has bee n a tre me nd ou s increase in t he adoption of IFRS around the world The precise way in which this has happened has varied a m o n g ju risdictions T hi s appendix summarises how J a p a n is approaching the adoption of IFRS In 2007, an a g re e me nt b e t w e e n the Account ing Standards Board of J a p a n ( A S B J ) , and the IASB, k n o w n as ‘T he Tokyo Ag re e me nt ’ , w a s announced The Tokyo A g r e e m e n t advanced the gradual c o nv e rg e n c e of J a p a ne se GAAP and IFRS, w hich had been taking p lace f o r a n u m b e r of years Following the initial c o nv e rg e n c e projects under this a gre e me n t, in 00 t he E urop ea n Commission accepted J a p a ne se GAAP in its markets as part of its process to accept certain GAAP as equivalent to IFRS f o r listing non-EU companies in a E uro pe a n ‘regulated market’ (as defi ned b y the E urop ea n Commission) Fu r t h e r c o nv e rg e n c e of J a p a ne s e GAAP has continued as n e w standards a re issued o r expected to be issued Since adoption of IFRS is being considered f o r consolidated fi nancial statements only, this c o nv e rg e n c e proces s is expected to continue as Ja p a n e s e GAAP is used b y J a p a ne se companies in their standalone fi nancial statements In June 2009, the Business Ad v i s o r y Council (B AC ) a ke y a d vi sor y b od y to t he Financial Services Agency approved a road map f or t he adoption of IFRS in J a p a n and t he rele vant related ma tt er s h a v e subsequently been incorporated into the regulation f or consol idated fi nancial statements The ke y points of this road map are: ► Option of vo l u nt a r y adoption of IFRS f ro m fi scal ye a r s ended after 31 March 01 f or companies with global fi nancial o r operating activities; and ► Decision o n the ma n d a t or y adoption of IFRS to be ma de in 2012 In June 2011, the B AC announced that if ma nd at or y application of I FRS w e re to be decided, a period of fi ve to seven yea r s would be given f or preparing f or adoptio n T his is a longer period than proposed in the June 2009 roadmap A nu mb er of Japa ne se compani es ve already taken, or are planning to take, the option to apply IFRS voluntarily 78 Appendix - IFRS Related Res ources Please use our knowledge fully Ernst & Young Online Ernst & Young Shinnihon LLC website We off e r a var i e ty of online res ources tha rese arch the potential impact of IFRS on your c ompan y http://www.shinnihon.or.jp/services/ifrs/index t provide m o re html detail about IFRS as well as things to co nsider as y o u E rns t & You ng ’ s information site f or clients web-based learning, model fi nancial s tate me nts a v ar ie ty of othe r knowledge , that gathers the latest ne w s f ro m around the worl d, provides http://www.ey.com/IFRS between the A var i e t y of J ap an e s e language tools an diff erences fundamental concepts of d publications： Japanese accounting standards and IFRS ► IFRS Outlook and Supplements , the resulting diff erences in accounting treatments, and to IFRS related practical Outlook- T h e s e include a points This book also includes diff erences var i e t y of publications focused on specifi c st in presentation and disclosure rules andards and industries (English versions in G AAIT) ► Jouhou sensor – ou r magazine combining accounting and tax information In this magazi ne the IFRS section ‘IFRS jit sumu kouza’ includes articles by E Y S N ’s IFRS professionals on the interpretation of IFRS f or s pecifi c topics and in a practical w a y International GAAP® T hi s comprehe ns ive book f ro m E rn s t & Yo ung is updated annually and provides practical guidance f or understanding and interpreting IFRS o n a globally consistent basis International GAAP® - Japanese langu age J apane se language versi on of the above A Complete Comparison: Ja pa n e se G AAP and IFRS 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the materials referred to therein ... profi t ► es Consolidation Significant differenc JGAAP IFRS Scope of (Account ing Standard f or (IAS27.4,12,13,14) consolidation Consolidated Financial Stateme nThe scope of consolidation is bas... accounting Consolidated Financial Stateme n( N e w standard IFRS1 0.19, B87) policies of ts Consolidated fi nancial stateme nt consolidated 17) s subsidiaries (Practical Interim Solution o n shall... scope of consolidation:JGAAP exceptions ► subsidiaries w h e re control is ( N e w standard IFRS1 0 Appendix t e m p or a r y ; ► subsidiaries which, if A, consolidated, would give rise IFRS9 .3.2.1)