Cost and Benefit Analysis and Preliminary Views on IFRS implementation by the Japanese Listed Firms : An International Comparison

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In this study, we conducted a questionnaire survey on costs and benefits of IFRS implementation in Japan. The objective was to find out the preliminary view by the Chief Financial Officers(CFOs) of Japanese listed companies. We received 391 responses and these data set was used to identify the positive and negative factors influencing decisions to implement disclosure and reported earnings under the International Financial Reporting Standards(IFRS). We found from the CFOs' perceptions that size and custom(or culture) effects exist and these could have negatively impact consequences on the adoption of the IFRS in Japan. While large companies with an overseas presence found benefits from the IFRS reporting, a large number of our sample in the second division admit uncertainties regarding specific accounting areas and the costs involved, especially with in fair value measurement and financial presentation, and the costs involved.