Article: Japan's ruling bloc seeks delay in new accounting rule for fixed assets

Japan's ruling bloc seeks delay in new accounting rule for fixed assets

TOKYO, March 24 (Xinhua) -- A project team of Japan's ruling coalition on financial affairs agreed Monday to call for a two- year delay in the government's plan to introduce a new mark-to- market accounting rule for fixed assets.

The demand is part of an emergency package to bring deflation under control and protect the Japanese economy from adverse effects of the war in Iraq, Kyodo News reported.

The Japanese government plans to introduce an accounting rule in fiscal 2005 that will require companies to book appraisal losses on real estate holdings, such as office buildings and ...

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