Accounting Books

Accounting Magazine

Institutional and Theoretical Issues of IFRSs adoption

Eiko Tsujiyama
Professor of Accounting, Faculty of Commerce, Waseda University


The purpose of this paper is to consider institutional and theoretical issues of IFRSs adoption which may be implemented in Japan. This paper pointed out that convergence of accounting standards or IFRSs adoption rests on the premise that IFRSs are high quality standards. Nevertheless, there is no consensus on an accounting view/philosophy which would be at the core of a high quality accounting standards system. Therefore, the most important thing at present in the IFRSs adoption is to reach worldwide consensus on an accounting philosophy.