The Corporate Tax Act Enforcement Regulations list, among the books that a corporation filing a blue return must keep, a journal that records all transactions as debits and credits, and the general ledger1. For derivative transactions at financial institutions, entries in the general ledger and subsidiary ledgers are backed by copies of the trade agreement2.

The general ledger is an accounting book and is separate from the position sheets that traders keep. Financial institutions reconcile the traders' position sheets to the general ledger3.

Notes

  1. "法人税法施行規則" (Corporate Tax Act Enforcement Regulations, in Japanese), Article 54 (books on transactions and the items to be recorded). ↩

  2. Board of Governors of the Federal Reserve System, "Trading and Capital-Markets Activities Manual," Section 2060.1 (February 1998), page 3, "TICKET FLOW" (continued). ↩

  3. Board of Governors of the Federal Reserve System, "Trading and Capital-Markets Activities Manual," Section 2060.1 (February 1998), page 5, "Reconciliations." ↩