1. Accounting (Source: “Keiei Zaimu Magazine”)
ASBJ released, on June 30th, the Standard for Presentation of Comprehensive Income, Earnings per Share and
amendment to a related Accounting Standard as part of an effort toward the convergence with IFRS. (More details in the next issue.)
2. Taxation (Source: “Zeimu Tsushin Magazine”)
The 2010 revision to the current consolidated tax return system proposes that a subsidiary will be able to carry forward its pre-consolidation tax losses
upon consolidation under certain conditions. In addition, when a subsidiary joins an existing consolidated group in the form of tax-qualified merger on and after October 1, 2010,
its losses carried forward will be treated as consolidated losses and the amount of these losses available for use is limited to the income generated by its parent company.
3. This Week’s Words of Wisdom (Source: “English words of wisdom to enrich life”)
It is not the old that are wise, nor the aged that understand what is right.
(The book of Job 32, the Old Testament)
I believe that no one could move on to the next stage of life without achieving spiritual enlightenment.
We have a well-known aphorism in the East such as “Put on years in idleness”, that is used to describe someone who has been wasting their time by giving in to laziness.
It’s also worth noting that I sometimes encounter old people who thrust themselves into small seating space on the train.
I guess their advanced age is not the primary source of these improper manners, they simply have failed to develop their social skills since their childhood.
In other words, they probably missed a chance to break their bad habit until now.