The line between not-for-profit organizations and business enterprises is not always sharp since the purpose financial reporting and the financial statements in any organization are difference. This means that a spectrum of not-for-profit organizations exist ranging from not-for-profit organizations characteristics to business characteristics. This study aims to examine types of financial statements and their function of not-for-profit organizations. This study states that the objectives of purpose financial reporting and financial statements for a not-for-profit organization should be similar to those of other organizations or business enterprises engaged in similar activities. It is also important to mention that a set of financial statements for not-for-profit organizations consist of statements of financial position, comprehensive income (or changes in financial position), cash flows, changes in equity and management stewardship information to financial statements.

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For a company that is willing to be listed, it is crucial to meet the IPO criteria. But there are few studies that examine earnings management done by the management to meet the criteria. Thus, I will hypothesize that the IPO companies, that do not meet the criteria by their non-discretionary earnings, make earnings management to meet them. To examine this hypothesis, I will categorize the sample IPO companies into two portfolios. One will be composed of the companies that meet the criteria by their non-discretionary earnings, and the other will be composed of the companies that do not meet the criteria by their non-discretionary earnings. I will carry out student's t-test and so on. As a result, I will also report a piece of evidence that is consistent with the hypothesis.

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This study examines whether earnings management of sample firms that disclosed material weaknesses in internal control reports reflects managerial opportunism or informativeness. Informative earnings management is defined as earnings management which indicates an appropriate prediction and improves accruals quality, and opportunistic earnings management is defined as earnings management which indicates an inappropriate predication and lowers accruals quality in this study. I find the following: (1) based on the results that predictive accuracy is significantly associated with accruals quality, it is likely that earnings management of sample firms reflects managerial opportunism; (2) since discretionary accrual is significantly related to accruals quality, it is likely that earnings management of sample firms reflects accruals management with managerial opportunism by using discretionary accrual; and (3) based on the results that accruals quality of sample firms is significantly associated with accruals, it is likely that the sample firms have earnings management by using accruals and decline accruals quality.

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This study revealed how the structure of corporate ownership affected the financial position. We focused on Japanese family firms. We classified 1,323 Japanese listed manufacturing firms whether 1) the founder or his/her family was included in the top ten shareholders or 2) the founder or his/her family was one of the board members. As the conclusion, we found that firms in which the founder or his/her family was included in both the top ten shareholders and the board members had grown substantially and showed the tendency to accumulate the profit internally more than other types of firms. Also, comparing firms of which the founder or his/her family was included only in board members with firms of which the founder or his/her family was included only in the top ten shareholders, the former showed better financial position than the latter. In this study, when one of the board members was a founder or his/her family, having suitable influence on the financial position was verified.

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In this study, I discuss how the Japanese stock market has estimated consolidated earnings, by comparing the periods of (A) the disclosure system for mainly parent-only financial information and (B) the disclosure system for mainly consolidated financial information. Firstly, it was found, like previous studies, that subsidiary earnings were underestimated during the period of (A), and that this underestimation has been solved after the shift to (B). This indicates that it became possible to estimate subsidiary earnings accurately after the disclosure of consolidated information became mandatory, and supports the effect of the disclosure system for mainly consolidated financial information. However, it was found in this study that earnings under the equity method, which are included in consolidated earnings, are still underestimated after the shift to (B). It can be concluded that the information on affiliates accounted for under the equity method are insufficient and there are some problems with the current disclosure system for consolidated financial information.

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Recently, the number of cases where buy-out funds support the overseas deployment of Japanese firm increases. Especially, it is notable the number of cases that buy-out funds support foreign operations of Japanese enterprise. The Kito Corporation, a hoist crane manufacturing company, executed the buy-out with the support of The Carryle Group in 2003. The Carlyle Group has supported the selling of no-core business in Japan of Kito, strengthening the management system of the foreign subsidiary in North America, and the construction of a new factory in China, etc. Many of those supports have rapidly improved the performance. As a result of support that the emphasis is in foreign business, the proportion of foreign sales in consolidated sales of Kito Corporation rapidly became uptrend. The case of Kito Corporation can be considered to be a pioneer case that buy-out fund supported foreign operations.

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Quantitative research on corporate environmental management activities is developed especially in the field of internal management activities. On the other hand, quantitative research on external analysis and valuation of environmental management is unexplored. To analyze the corporate environmental conservation activities, this study suggests the new effective use of environmental accounting information. This study focuses on the relationship between environmental cost in environmental accounting and its effect in business area. Using historical data of environmental conservation costs and environmental emissions, this study proposes and verifies the new analysis model considering corporate environmental stage; progress situation of environmental conservation activities. The result of this study will make more realistic analysis of corporate environmental management based on environmental accounting information.

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This study adresses 4 points. Firstly, the basic concept of "the Staff Draft of the Financial Statement Presentation" issued by the IASB and the FASB. Secondly, the improved points from "the Discussion Paper of the Financial Statement Presentation" issued by the IASB and the FASB. Thirdly, the analysis of the opinions stated during the outreach activity. Lastly, other comments on the staff draft. Defining operating profit under the Staff Draft would result in presenting sustainable income. Therefore, I think it an excellent proposal that would improve the current lASlPresentation of Financial Statements. From the viewpoint of analysts, it would be ideal to present the direct method of the statement of cash flow. However, taking into the consideration of the costs shouldered by preparers, would be it appropriate to present the indirect method of the statement of cash flows with additional direct method cash flow information that analysts would require, such as cash received from customers. In addition, it is suggested that the subtotal within the operating category showing operating cash flows before deducting capital expenditures should be presented in the statement of cash flows.

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