ACCOUNTING

Accounting standards in Japan follow the Japanese Generally Accepted Accounting Principles (GAAP), which differ from the US GAAP and the International Financial Reporting Standards (IFRS). Because of the differences between these standards, it is necessary to make adjustments in how services are delivered. We have formed PKF JAPAN from an exceptional team of Certified Professional Accountants (CPA), Enrolled Agents (EA), and Tax Advisors, who are all former members of the “Big 4” consultancies. We provide a one-stop accounting support service for Japanese corporations and branches, delivering a quality service that is comparable to the other major accounting firms but brought to you at a reasonable price.

Accounting Advisory Services

We provide accounting-related advisory services that we tailor to meet the individual needs of our clients’ businesses based upon their size and their current stage of development. We offer our clients the best possible services, including monthly and annual account closing operations, accounting and auditing support, and compliance with international accounting standards, including IFRS and US GAAP.

  • Accounting Policies Planning
    • We assist our clients in formulating the most appropriate accounting policies for all their various business activities, as well as complying with any new applicable accounting standards. We also help to assess the back-office practices that our clients employ and assist them in the identification of the account methods that they should introduce that would be most beneficial to delivering improvements to both the efficiency and the effectiveness of the practices.

  • Monthly and Annual Closing
    • We help complete the monthly and annual closing of accounts as quickly, accurately, and efficiently as possible. It is vital to obtain the cooperation of all relevant departments, including sales, manufacturing, and development, as well as from any parent company or any subsidiaries. We provide our clients with advisory services to ensure that successful completion of account closing operations.

  • IFRS and US GAAP Conversion
    • Entities in Japan are required to follow the JGAAP when settling their accounts and filing their domestic tax returns. However, if an entity’s parent company is required to follow a different accounting standard such as the IFRS or US GAAP, then it may be necessary for their Japanese entity to transition their financial statement from the JGAAP standard to either the IFRS or US GAAP for consolidated accounting purposes. We offer services that help companies perform this transition smoothly and effectively.

  • Business Flow Building and Improvement
    • We will assess each department’s working practices to determine if they are operating effectively and identify if there are any inefficiencies or opportunities for improvements that we recommend they address. Our team of consultants includes Certified Professional Accountants, Enrolled Agents, and Tax Advisors, who have comprehensive experience across a wide range of different work environments. Our team provides the necessary support required during the preparation and improvement of the workflows that will enhance the efficiency of your company’s work practices.

Accounting Outsourcing Service

Hiring an English-speaking accountant in Japan can be difficult, and it is common for foreign companies to outsource their accounting functions. We offer bookkeeping and payment processing services to meet all your outsourcing requirements. We can also tailor our software and reporting processes to meet the specific needs of both your company and your overseas parent company as a fully integrated and transparent service, acting as if we were your company’s own in-house accounting and tax department.

  • Accounting Outsourcing
    • Here at PKF JAPAN, we have a team of professional staff who are experts at undertaking accounting tasks on your behalf, including preparing your books. We offer bookkeeping services that are compliant with accountancy standards, including IFRS and US GAAP. We will also compile, on request, a comprehensive management summary for you to use in your monthly meetings. We deliver operational efficiencies to your business using cloud accounting software in conjunction with our support services, allowing you to focus your management resources on your core business while we seamlessly manage your accountancy needs.

      Bookkeeping services as part of a larger BPO service

      Bookkeeping is an important task that provides the foundation for producing accurate accounting books and precise financial and tax filings. However, bookkeeping is not the only Business Process Outsourcing (BPO) service that we offer. We also deliver outsourcing for other tasks for your upstream processes, including the following:

      • Payment Processing (cash, bank transfer)
      • Invoice Preparation
      • Payroll Calculations
      • Social Insurance Processing.

      As these other outsourced offerings are closely tied to the bookkeeping processes, outsourcing these tasks to us, in addition to your bookkeeping, would deliver to you benefits of scale and help make your business processes more efficient and effective.

  • Invoice Issuance
    • Our team at PKF JAPAN can both prepare and submit your sales invoices to your clients on your behalf. We can follow your standard invoice format; alternatively, we can use our cloud software solution to prepare your invoices. Another available option, as part of our offered BPO services, is to use our accounting software linked to the cloud invoicing software solution. This integrated solution can significantly increase the efficiency and accuracy of recording and tracking of your invoices and associated payments.

      Invoice Preparation

      Our team at PKF can prepare sales invoices on your behalf. We tailor our services to meet your requirements, such as issuing invoices at fixed dates, or multiple times over each month, or using any specified software solutions.

      Invoice Sending

      Our team at PKF can send your sales invoices to your clients on your behalf using the method of your choice. We tailor the issuance process to meet your requirements, including issuing invoices by email as PDF attachments rather than through the post.

Preliminary interviews for ACCOUNTING Services

Before we offer our services, our team at PKF JAPAN will typically schedule an initial consultation with potential clients to ensure that we fully understand their business, identify the most appropriate options for their individual needs, and allow us to provide an accurate quotation. We may ask you for copies of the following documents to help this process:

  • A set of financial statements and tax return documents for the last fiscal year (always required).
  • An overview of your business activities (such as import/export, wholesale/resale, commission services), and your sale and distribution channels. If there are several business activities, we would kindly ask for details of each. We may also ask you to provide support documentation for your business activities, such as a link to your company website.
  • The structure of your company’s business organization: for example, if it a Japanese based subsidiary, a branch office located in Japan, or an individual investment.
  • Details of your paid-in capital along with a copy of the shareholder list and the corresponding number of shares held by each shareholder.
  • The date of your fiscal year-end and the establishment of your company or branch office.
  • Your communications and reporting language preferences, including if you require the various deliverables (such as financial statements) translated into English along with any requirements for general discussions to be carried out using English.
  • The number of employees that your company currently employs, including all directors, part-time, and non-regular staff.
  • The preferred date for when you would like us to start supplying you with our services.
  • Any requirements you may have for us to use any specific accounting software application.
  • Any requirements for us to use a particular chart of accounts or if you would be happy for us to use a standard chart of accounts.
  • Any requirements for us to use a specific form for deliverables such as reporting packages or if you would be happy for us to use the general format generated by our standard accounting software application.
  • An idea of the current average number of journal entries (lines) per month based on your current books. You may alternatively provide us with a copy of your journal ledger or general ledger if you prefer.
  • The approximate value for your current sales and an idea of how many sales invoices you typically issue each month.
  • If your company has an inventory of the fixed assets, then a copy of the inventory control form would be beneficial.
  • Please let us know if you have a specific due date for your monthly reporting and the dates when you would require us to deliver our materials.
  • Confirmation as to whether or not your company is a consumption tax filer.
  • Any requirements for us to comply with additional accounting standards such as IFRS or US GAAP, along with any other adjustment you would require with regards to your financial statements.
  • If you do have a current service agreement with a different accounting firm; then we would be interested in knowing the reasons why you are considering a change in accounting firms so we can ensure we fulfill your needs.
  • Finally please let us know if you have any other specific requests regarding our accounting and tax services, we are always happy to help as best as we are able.

Service Features

Our ACCOUNTING services boast the following four major features:

An ability to provide services to foreign-affiliated companies regardless of their size

PKF JAPAN is home to a core team of certified professionals, including Certified Professional Accountants (CPA), Enrolled Agents (EA) and Tax Advisors who are all certified in Japan, and who have experience of working for the other major accounting firms. We are committed to providing accounting support to companies from across the world when they seek to expand their business into Japan ― either as companies or branches. We provide services to a wide range of clients from multiple industry sectors, from international companies listed overseas to those operating in the global aviation industry. With our accountancy standards conversion services (including conversion into US GAAP and IFRS), we offer a suite of accountancy services that will help foreign entities of all types and sizes.

An ability to provide fast, agile and effective support

PKF JAPAN’s team of specialized consultants are light on their feet. We are a fast and agile service provider, reacting to our clients’ needs whenever required, and delivering effective solutions. We recognize that it is essential for our clients that we swiftly complete our work when it comes to selecting accounting principles, as well as delivering our accounting services to meet our clients’ needs. Even when providing accounting advice, we guarantee that we will provide all our clients with prompt and decisive action. We have put together an integrated team of Certified Professional Accountants (CPA), Enrolled Agents (EA), Tax Advisors, Lawyers, Certified Social Insurance and Labor Consultants, Legal Advisors, Business and IT Support Staff, Bookkeepers and Administrative Assistants who, between them, can provide the services that you require.

An ability to address your concerns about monthly, quarterly, or consolidated reporting

PKF JAPAN’s accountants are experienced in preparing accounting reports, whether they be monthly, quarterly, or consolidated. From large enterprises to SMEs, we respond to the needs of our clients. We have a team of accountants with varying specializations to choose from when it comes to finding the right help for your accountancy and financial reporting affairs and which is consummate with the diverse nature of modern business activities.

An ability to offer multilingual services and support

Here at PKF JAPAN, we employ bilingual staff who are proficient in the major languages for international business, including English and Chinese. Over recent years we have seen an increase in both foreign business expansions into Japan and the overseas business expansions of Japanese enterprises. In such an evolving business environment, we are proud to be able to offer our accounting services in both English and Chinese to enhance and expand the support that we can provide to our clients.

Meet the Partners

Kengo-Maekawa

Kengo Maekawa

PKF Shiodome Partners

Senior Partner

Akinari-Tsuchiya

Akinari Tsuchiya

PKF Shiodome Partners

Senior Partner

Jun-Kurozumi

Jun Kurozumi

PKF Shiodome Partners

Partner

Yuya-Hasegawa

Yuya Hasegawa

PKF Shiodome Partners

Senior Partner

Ryuta-Sato

Ryuta Sato

PKF Shiodome Partners

Senior Partner

Shuske-Hirano

Shusuke Hirano

PKF Shiodome Partners

Senior Partner

Ryota-Matsuhashi

Ryota Matsuhashi

PKF Shiodome Partners

Executive Officer

Yusuke-Maekawa

Yusuke Maekawa

PKF Shiodome Partners

Executive Officer

Mitsuaki-Kanamori

Mitsuaki Kanamori

PKF Shiodome Partners

Director

Koichi-Sato

Koichi Sato

PKF Shiodome Partners

Senior Advisor

Hirofumi-Miyake

Hirofumi Miyake

PKF Shiodome Partners

Senior Manager

Ryo-Mitsui

Ryo Mitsui

PKF Shiodome Partners

Manager

Naoki-Kametani

Naoki Kametani

PKF Shiodome Partners

Manager

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