Meeting Japanese Accounting Standards

Japanese accounting standards have always been considered as above board and impeccable. When the Japanese Financial Service Agency or FSA upgraded it recently, it became even more internationally accepted. The FSA makes sure that everyone follows the rigid and structured Japanese accounting standards to avoid any possibility that the country’s accounting practices is questioned.

The Business Accounting Deliberation Council which falls under the jurisdiction of the FSA is the group in charge of upgrading or playing watchdog over accounting practices. This group is mainly made of academes, experts, and accounting practitioners who have been active as accountants with exemplary records for many years.
Japan has what is known as the Big Four which are the top corporations that offer services in accountancy. However, there are many smaller firms which are just as good, some of which even offer bilingual accounting services for offshore clients.
An accounting firm in Japan would never survive if any hint of discrepancy or misconduct is hurled at the company. The standard of personal and corporate honor will always hold fast and any smear is likely to lead to major changes in the accounting firm. For this alone, finding a credible and honorable accounting firm in Tokyo is not a major challenge. You will just have to focus on the other details such as language barrier and scheduling.
Many international firms have selected Japanese accounting firms as their first option when considering a possible payroll outsourcing. This is because these records are confidential and cannot be tampered with in any manner.
To find the right firm to help you, base your search on 3 factors: transparency, handling of data, and meeting deadlines. The firm should also be familiar with financial reports, tax deadlines, government requirements, and risk management.

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