A history of Japanese accounting reforms as a microfoundation of the democratic socio-economy: Accountics Part II

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Abstract

Immediately after WWII, unlike statisticians' reforms, accountants failed to establish the Cabinet-controlled Accounting Committee and Accounting Law which were originally envisaged as the key to successful "Accountics": the management of the socio-economy through standardized accounting (Part I). Nevertheless, July 1948 is regarded as the beginning of Japan's accounting revolution, as academic accountants accomplished a series of fundamental reforms. Part II examines the process through which micro financial systems were swiftly developed as a microfoundation of the new "democratic" socio-economy. First, academics implemented new accounting for large companies in order to dilute the Zaibatsu- and Imperial-centred regime; followed by censored and standardized accounting education for SMEs and the public in order to change the public perception of the roles of businesses in society. The foci of examination are the political manoeuvres of reformers, the consequences of new accounting, and pragmatic philosophy of the academics in action. Towards the end of the paper, some implications of this history are considered in relation to the impacts of the IAS/IFRS on today's international socio-economy.

Original languageEnglish
Pages (from-to)543-575
Number of pages33
JournalAccounting, Organizations and Society
Volume32
Issue number6
DOIs
Publication statusPublished - 2007 Aug
Externally publishedYes

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reform
economy
history
accounting law
statistician
financial system
pragmatics
Japan
Microfoundations
regime
examination
management
Accountants
education
Accounting education
Financial system
Public perception
Large companies
Small and medium-sized enterprises
Second World War

ASJC Scopus subject areas

  • Accounting
  • Sociology and Political Science
  • Organizational Behavior and Human Resource Management
  • Information Systems and Management

Cite this

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