On June 24, 2013, the Japanese Institute of Certified Public Accountant (JICPA) issued Accounting Practice Committee Research Material No.3 “Research Material for Provisions in Japan” (hereinafter, the “Research Material”).
JICPA states that the Research Material aims to be an aid in the future development of an accounting standard for provisions. Therefore, the Research Material is neither to be positioned as a practical guideline nor to provide any constraints on the existing accounting practices. In addition, the accounting considerations referred to IFRSs included in the Research Material are not intended to represent JICPA’s own interpretations of IFRSs but it only provides today’s certain perspective.
The original document is available at JICPA website.