This paper describes the transformation of Japan's accounting standards over the past 2 decades and the driving forces … behind this transformation. It also analyzes the current state of Japan's accounting standards, which are characterized by … the dichotomy of accounting systems inherited from the country’s political, economic and legal institutions. The …

The principles characterizing the traditional revenue-expense approach to accounting have never been "invented". They … of the traditional accounting principles can be found in behavioral economics, especially in Prospect Theory. If one …