Notice of Retraction Convergence of Japanese accounting standards with International Financial Reporting Standards

摘要: In this paper we give an overview of the efforts exerted by Financial Services Agency Japan (FSAJ), to converge (harmonize) Japanese accounting standards with International Reporting Standards (IFRS). We also reviewed forces, which motivated financial services agency Japan, its IFRS. This convergence will not only lend a hand in integration capital market international market, but provide support economy, terms motivating domestic and foreign investors invest their resources market. Moreover, it help companies procure from reduce cost, preparing less number statements. The complicated process may take long time, if implemented properly, increase equity financing, as well participation shareholders, ultimately strengthen corporate governance practices country.