Thoughts on Accounting Matters

Trending in the world business map is outsourcing and streamlining. In line with this bilingual accounting Tokyo firms offering this service are fast becoming the norm because having someone familiar with more than 2 languages and the international standards in accountancy. The response from the international and local business communities for bilingual accounting Tokyo and other Japanese cities have to offer are now busy servicing their needs. Instead of having to file two separate accounting reports: one for the Japanese government and the other for the home country’s required annual reports, firms operating from Japan as host country and their head office will only need to produce one report that can serve both purposes.

The organization the oversees accounting standards in Japan are upheld is known as  JICPA. It is not a government agency but independent and self-disciplinary. An accountant who is a member of JICPA has privileges and benefits like guidance and support.

The JICPA works under its own code of ethics which they developed in 2004 even if the organization has been around for decades. This isn’t to say that previous to 2004, they operated without any moral guidelines. Not at all because the 2004 Code of Ethics was a formality of JICPA’s  standards.

The main points of the Code of Ethics of JICPA are:

• Global convergence and international levels of accounting standards
• Appropriate disclosure and a stricter auditing system
• A guideline/manual on how to avoid indirect pressure in the course of work
• Need for transparency and clarity

The objective of JICPA is clear: they need to make sure that all its members practice sound accounting practices and are never vulnerable to forces or pressure. What is important to note is that the Japanese penchant for discipline and honor will uphold this Code of Ethics on a personal basis. This is also one of the reasons the Japanese economy remains steadfast in the face of recent tragedies and disasters. JICPA may be an organization that monitors its members but it’s striking how each member has the firm conviction to follow the rules and standards of accounting without faltering. This is the most exceptional characteristic of the Japanese people and this dignity is what is most admired by the international business community.