The asset-and-liability view and the income concepts in Japan / Hiromasa Okada

This paper clarifies the fundamental income computational structure under the Asset-and-Liability view. According to this income view, income is the increase/decrease in the net asset of an enterprise and key concepts are asset and liability. Thus, in the fundamental income computational structure,...

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Main Author:	Okada, Hiromasa
Format:	Article
Language:	English
Published:	Accounting Research Institute (ARI) & Faculty of Accountancy 2008
Online Access:	http://ir.uitm.edu.my/id/eprint/196/ http://ir.uitm.edu.my/id/eprint/196/1/AJ_HIROMASA%20OKADA%20MAR%2008.pdf

id	uitm-196
recordtype	eprints
spelling	uitm-1962017-07-11T08:36:59Z http://ir.uitm.edu.my/id/eprint/196/ The asset-and-liability view and the income concepts in Japan / Hiromasa Okada Okada, Hiromasa This paper clarifies the fundamental income computational structure under the Asset-and-Liability view. According to this income view, income is the increase/decrease in the net asset of an enterprise and key concepts are asset and liability. Thus, in the fundamental income computational structure, income is calculated in the balance sheet with the causes of income being explained in the income statement. However, the income statement does not necessarily have to explain all causes of income. In the clarification of the fundamental structure, this paper examines income concepts defined in the memorandum of the ASBJ (Accounting Standards Board of Japan) where comprehensive income and net income are defined. Comprehensive income is to be based on the Asset-and-Liability view, net income on the Revenue-and-Expense view. These two income concepts may lead to duality of periodical income allocation in Japan. This paper considers the reason for co-existence of two different types of income in terms of the fundamental income computational structure of the Asset-and-Liability view. Accounting Research Institute (ARI) & Faculty of Accountancy 2008-07 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/196/1/AJ_HIROMASA%20OKADA%20MAR%2008.pdf Okada, Hiromasa (2008) The asset-and-liability view and the income concepts in Japan / Hiromasa Okada. Malaysian Accounting Review, 7 (1). pp. 77-88. ISSN 1675-4077
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
description	This paper clarifies the fundamental income computational structure under the Asset-and-Liability view. According to this income view, income is the increase/decrease in the net asset of an enterprise and key concepts are asset and liability. Thus, in the fundamental income computational structure, income is calculated in the balance sheet with the causes of income being explained in the income statement. However, the income statement does not necessarily have to explain all causes of income. In the clarification of the fundamental structure, this paper examines income concepts defined in the memorandum of the ASBJ (Accounting Standards Board of Japan) where comprehensive income and net income are defined. Comprehensive income is to be based on the Asset-and-Liability view, net income on the Revenue-and-Expense view. These two income concepts may lead to duality of periodical income allocation in Japan. This paper considers the reason for co-existence of two different types of income in terms of the fundamental income computational structure of the Asset-and-Liability view.
format	Article
author	Okada, Hiromasa
spellingShingle	Okada, Hiromasa The asset-and-liability view and the income concepts in Japan / Hiromasa Okada
author_facet	Okada, Hiromasa
author_sort	Okada, Hiromasa
title	The asset-and-liability view and the income concepts in Japan / Hiromasa Okada
title_short	The asset-and-liability view and the income concepts in Japan / Hiromasa Okada
title_full	The asset-and-liability view and the income concepts in Japan / Hiromasa Okada
title_fullStr	The asset-and-liability view and the income concepts in Japan / Hiromasa Okada
title_full_unstemmed	The asset-and-liability view and the income concepts in Japan / Hiromasa Okada
title_sort	asset-and-liability view and the income concepts in japan / hiromasa okada
publisher	Accounting Research Institute (ARI) & Faculty of Accountancy
publishDate	2008
url	http://ir.uitm.edu.my/id/eprint/196/ http://ir.uitm.edu.my/id/eprint/196/1/AJ_HIROMASA%20OKADA%20MAR%2008.pdf
first_indexed	2023-09-18T22:44:13Z
last_indexed	2023-09-18T22:44:13Z
_version_	1777417116938403840

The asset-and-liability view and the income concepts in Japan / Hiromasa Okada

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