Abstract
This paper examines the impact of IFRS on Japanese accounting standards in light of accounting standard convergence and clarifies the significance of IFRS research. While Japanese standards have superficially become equivalent to IFRS―as seen in the revenue recognition standard― they also include provisions such as exceptions designed to minimize practical impacts. Furthermore, at the level of fundamental concepts, the two standards remain in a state of“ same bed, different dreams,” with persistent differences in the positioning of fiduciary responsibility, the accounting philosophy emphasized, and the conception of profit. It can be argued that contributing to future standard-setting requires not viewing decision-usefulness as an absolute, but rather critically examining its theoretical background.
https://ror.org/00x194q47 
