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"Diastrophic Change in Corporate/ Economic/ Social Infrastructure"
December 11 , 2001:  Keidanren Kaikan, Tokyo
 08:30-09:00
REGISTRATION
 09:00-09:20

  Chairman's Address:
Katsue Okuda*, Licensed Real Estate Appraiser, Ogata Appraisal Corporation

 09:20-10:05

 KEYNOTE ADDRESS :
IAS as a Global Accounting Standards
Koji Tajika, IASC Trustee (Advisor, Tohmatsu & Company)

  • Necessity for high-quality, transparent information
  • Benefits of using a single international accounting standard
  • New issues tackled by the IASB
  • Japan's tackling of the current issues
  • Japan's countermeasure
Focus:
The necessity for high-quality, uniformed accounting standards brought by changes in the global capital markets and developments in the information technology industry will be explained. Current challenges in achieving IASB trends as well as the benefits in adopting them will also be looked into. Furthermore, the question of how Japan is going to respond to such situations will be discussed.
 10:05-10:25
Morning Coffee/Tea Break
 10:25-11:10

 Impact of IAS on Japanese Companies and Capital Markets

Mitsuru Yoshikawa,General Manager, Legal & Tax Research Department,
Daiwa Institute of Research

Member, Accounting Standards Board

  • Trend for unification of accounting standards
  • Discussion regarding the standpoint of the U.S., an advocate
  • Putting importance on transparency
  • Is corporate accounting the cause for Japan's bad debts problem?
Focus:
To improve Japan's financial and economic situation, it is necessary to renovate corporate accounting and heighten corporate transparency. The role that international accounting standards (IAS) carry out on the course of those processes will be stated.

 11:10-12:00


 International Calculated Prices for Portfolio Evaluation
Greg Carlin, Director - Business & Product Development, Standard & Poors' Global Evaluation Services (New York)
  • How and when to determine the market price
  • How to determine "inherent value" of a security

Cost Effective Global Real-Time Prices
Andre Zimmermann, Managing Director, Telekurs (Japan)

  • Importance of independent back-up for market prices
  • Alternative solutions to reduce cost, increase reliability
 12:00-13:00
LUNCHEON
 13:00-13:45

 Business Combinations Accounting
Mitsumasa Abe, Senior Manager, CPA, Deloitte Touche Tohmatsu

  • Pooling Method vs. Purchase Method Accounting for business combinations in Japan
  • Accounting for business combinations in IAS
  • Comparison of accounting for business combinations between in Japan and in IAS
  • Recent actions made by the Business Accounting Deliberation Council of Japan
  • Recent actions for revision of IAS conducted by International Accounting Standards Board
Focus:
There are no comprehensive accounting standards for business combinations in Japan. On a practical level, amendments to the Commercial Code and the Corporate Tax Law promote the use of certain type of transactions for business combinations, such as exchange of specific shares, transfer of specific shares, and division of company. The Business Accounting Deliberation Council of Japan (BADC) is making an effort to develop such accounting standards by consulting IAS and US GAAP. The BADC released the "Clarification of points at issue" in July 2001 and is analyzing comment letters. Using these elements as a framework, explanations of the character of current accounting methods for business combinations in Japan and the Clarification of points at issue, recently released by the BADC will be discussed.
 13:45-14:30

 Evaluation of Real Estate in Accounting Standards
Katsue Okuda*, Licensed Real Estate Appraiser, Ogata Appraisal Corporation

  • Necessity for evaluation of real estate in accounting standards (impairment accounting, compulsory devaluation of assets etc.)
  • How to grasp the market price of real estate?
  • How to grasp the value in use?
Focus:
Compulsory devaluation of real estate for sale, trends toward impairment accounting for fixed assets, consideration towards evaluation of real estates and the difference between market price and the value in use will be examined based on Japan's accounting practices.
 14:30-14:50
Afternoon Coffee/Tea Break
 14:50-15:35

 Current Accounting Standard for Financial Instruments and the Status of the Planned Fair Value Accounting Model
Tokuya Takizawa, Partner, CPA, Shin Nihon & Co.

  • History of accounting standard for financial instruments
  • Valuation of financial assets and liabilities, and impairment
  • De-recognition of financial assets
  • Hedging activities and accounting treatments
  • Fair value accounting model to be introduced
Focus:
IAS 39 "Financial Instruments - Recognition and Measurement" significantly affected the introduction of the Japanese accounting standard for financial instruments. Backgrounds of the history to complete this benchmark standard and overall review of the standard will be explained. In addition, the status of the project of the "fair value accounting model," which is regarded as the next step will be reviewed.
 15:35-16:20

  Impairment Accounting
Yoshinori Kawamura*, Lecturer of Accounting, School of Commerce, Waseda University

  • Significance/ realization/ measurement of impairment
  • Overseas trends on impairment accounting standards
  • Issues unique to Japan
Focus:
At present, the issue of accounting process for the impairment of fixed assets are worrying Japanese companies because of its effects on their financial situation. With respect to the issues regarding impairment accounting, how do we consider its basic framework, trends in overseas standards, and our country's unique issues?
 16:20-16:30
Closing Comments
　　*Members of the Business Accounting Deliberation Council (BADC).
Speakers/Agenda are subject to change