Progress in Global Standard and Changes of Triangular System of Accounting in Japan

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1. From the historic perspective, we got the knowledge that the prominent change of accounting system was caused by globalization of business activity and borderlessness of financing activity. The international comparison of information of different conpanies in different countries came to be very important.2. We got the knowledge that traditional accounting system in our country are formed by three components, that is, Commericial Law, Tax Law and Securities and Exchange Law. This accounting system are called Triangular System. We pointed out that traditional accounting system in our country cannot meet international demand for timely disclosure.3. We revised the standard of consolidated financial statements in 1997. We got the knowledge that new standard of consolidation put more emphasis on disclosure of financial position and operating result than calculation of distributable income.4. We got the knowledge that the accounting system in our country is going to shift from (1)Revenue-Expense View to (2)Asset-Liability View.