Balance Sheet and Discussion Paper
The Series of Discussion Papers
“Conceptual Framework of Financial Accounting”
Working Group on Fundamental Concepts
September 2004
（Tentative translation: 28 Feb. 2005）
Contents
Issuance of the Series of Discussion Papers “Conceptual Framework of Financial Accounting”・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 1 Discussion Paper “Objectives of Financial Reporting” ・・・・・・・・・・・・・・・4 Discussion Paper “Qualitative Characteristics of Accounting Information” ・・・・・12 Discussion Paper “Elements of Financial Statements” ・・・・・・・・・・・・・・22 Discussion Paper “Recognition and Measurement in Financial Statements” ・・・・32
Issuance of the Series of Discussion Papers “Conceptual Framework of Financial Accounting”
Background Information on the Issuance of the Series of Discussion Papers “Conceptual Framework of Financial Accounting” Based on remarks received from various constituencies regarding the necessity for developing a written conceptual framework as a basis for developing accounting standards in Japan, the Accounting Standards Board of Japan (hereinafter called “the Board”) organized a Working Group under its supervision, which mainly consists of external academics, and delegated the study of this issue to the Working Group. Some full-time Board members and some staff also participated in the Working Group, and the Working Group held as many as 46 meetings under the guidance of the Chairman. This series of Discussion Papers “Conceptual Framework of Financial Accounting” (hereinafter called “these Discussion Papers”) summarizes the conclusions reached by the Working Group. Consequently, the views provided in these Discussion Papers are not necessarily those of the Board but are those of the Working Group that were reported to the Board. These Discussion Papers may eventually become accepted as de facto standards if their usefulness is confirmed in the process of developing standards in the future and if improvements are made to reflect the opinions of
“Conceptual Framework of Financial Accounting”
Working Group on Fundamental Concepts
September 2004
（Tentative translation: 28 Feb. 2005）
Contents
Issuance of the Series of Discussion Papers “Conceptual Framework of Financial Accounting”・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・・ 1 Discussion Paper “Objectives of Financial Reporting” ・・・・・・・・・・・・・・・4 Discussion Paper “Qualitative Characteristics of Accounting Information” ・・・・・12 Discussion Paper “Elements of Financial Statements” ・・・・・・・・・・・・・・22 Discussion Paper “Recognition and Measurement in Financial Statements” ・・・・32
Issuance of the Series of Discussion Papers “Conceptual Framework of Financial Accounting”
Background Information on the Issuance of the Series of Discussion Papers “Conceptual Framework of Financial Accounting” Based on remarks received from various constituencies regarding the necessity for developing a written conceptual framework as a basis for developing accounting standards in Japan, the Accounting Standards Board of Japan (hereinafter called “the Board”) organized a Working Group under its supervision, which mainly consists of external academics, and delegated the study of this issue to the Working Group. Some full-time Board members and some staff also participated in the Working Group, and the Working Group held as many as 46 meetings under the guidance of the Chairman. This series of Discussion Papers “Conceptual Framework of Financial Accounting” (hereinafter called “these Discussion Papers”) summarizes the conclusions reached by the Working Group. Consequently, the views provided in these Discussion Papers are not necessarily those of the Board but are those of the Working Group that were reported to the Board. These Discussion Papers may eventually become accepted as de facto standards if their usefulness is confirmed in the process of developing standards in the future and if improvements are made to reflect the opinions of