Subsidiaries of Foreign capital company may be required to prepare financial statements in accordance with US GAAP and IFRS when reporting financial results to the parent company. In some cases, Japanese companies acquired by foreign capital companies have to submit financial statements under new accounting standards.
The preparation of financial statements in accordance with different accounting principles (Conversion) requires a specialist’s involvement because it is necessary to grasp GAAP difference exactly. Service to prepare financial results with US-GAAP or IFRS other is also provided by audit firms; however, it is often required to pay quite a large amount of fee. It, therefore, seems that SMEs often have difficulty in dealing with.
We aim to provide reasonably priced services for companies that have to prepare financial statements based on US-GAAP and IFRS. You may need to convert financial figures to US-GAAP or IFRS when acquiring a company located in Japan or establishing the business in Japan. We deal with any case according to your situation and request.
Examples of company who should consider our services
- The company required to prepare financial statements based on US-GAAP and IFRS, however, not familiar with what kind of accounting conversions should be done.
- The company which wants to grasp the GAAP difference between J-GAAP and IFRS (US-GAAP), however, proposed by audit firm high service fee to perform a preliminary investigation.
- The company which has the necessity to report financial results to parent companies based on US-GAAP and IFRS, however, also complies with J-GAAP for the purpose of tax return.