 JapanTerumi Takita and Kenji Yumoto Chapter Chapter 20 in Transnational Accounting, 1995, pp 1805-1963 from Palgrave Macmillan Abstract: Abstract The establishment of a modern banking industry, supported by the power of active government leadership, played a pivotal role in the modernization of the Japanese economy during the Meiji Era. This establishment, privately managed, but overseen by the government, was achieved following the then most advanced methods. The bookkeeping system of the First National Bank (the first Japanese company, founded in 1873) was modelled on the National Bank Act of the United States and bank accounting practices of England. The establishment of the bank accounting system, done mainly to support economic development, resulted in the development of modern Japanese accounting. To prepare the framework for future development and preceding the founding of the first company, the National Bank Act had been promulgated in November 1872, and included three requirements that formed the basis of the accounting system of the First National Bank: Preparation of books of account and periodical reports. Periodic settlements. Examination of the bank by the Ministry of Finance. Keywords: Balance Sheet; Commercial Code; Income Statement; Generally Accept Accounting Principle; Consolidate Financial Statement (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-13233-1_20 Ordering information: This item can be ordered from DOI: 10.1007/978-1-349-13233-1_20 Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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