1. Accounting (Source: “Shukan Keiei Zaimu”)
～The revision of computation rule based on “Comprehensive Income” standard～
The Japan Federation of Economic Organizations (Nippon Keidanren) and the Committee on Economic Law published the revised edition of “Various document forms of corporations under Ordinance of Companies Act Enforcement and Ordinance of Company Accounting”. The main purpose of this revision is to accommodate the “Ordinance revising a part of Company Accounting Regulations” which was promulgated and enforced in response to the publication of “Accounting standard for Displaying Comprehensive Income”.
Specifically “Valuation and translation adjustment” on present consolidated balance sheet and consolidated statement of changes in equity is divided into “Valuation and translation adjustment” or “Accumulated Other Comprehensive Income”. Considering voluntary application of IFRS and adoption of IFRS, it will be necessary to pay attention to the practical effects on financial report preparation based on corporate law in the future.
２. Taxation (Source: “Zeimu Tsushin Magazine”)
1) For the fiscal year starting on or after April 1, 2011, the maximum deduction of loss carried forward for corporations with paid-in-capital exceeding 100 million yen or wholly owned subsidiary of a Large Corporation with paid-in-capital of 500 million yen or more will be limited to 80% of taxable income of its fiscal year. With these limitations, the loss carry forward period will be extended from seven years to nine years.
2) Current rule of allowance for Bad Debt will be phased out over next four years for the fiscal year starting in 2011 and it will be abolished for the fiscal year starting in 2014 except for bank, insurance company and small and medium-sized companies.
３. This Week’s Words of Wisdom (Source: “English words of wisdom to enrich life”)
“It is foolish to say sharp, hasty things, but it is a deal more foolish to write’em. When a man sends you an impudent letter, sit right down and give it back to him with interest ten times compounded and then throw both letters in the wastebasket.”
(Elbert Hubbard, American writer and educationist)
SNS (social network service) seems to have become popular in these days.
Though I have not tried it yet, Mixi is famous in Japan and Facebook is famous in the world.
The biggest difference is that while the former allows anonymity, the latter requires one to reveal their true identity (It is called “Face”book in the first place…)
When I receive the so-and-so’s birthday notification from Facebook (I did sign up sometime ago), I feel that is excessive service, but the good thing is that because of registration with one’s real name, we do not receive slanderous mail like the ones in the quote above.
But I will not begin SNS anyway.