Seeking Advice: Best Practice for GL Secondary Ledger for Future IFRS Reporting (J-GAAP Primary)

Hello everyone,

I am currently planning our General Ledger setup and would greatly appreciate your advice and insights.

Background

We are setting up our Primary Ledger based on Japanese GAAP (J-GAAP). However, we anticipate a future requirement to support IFRS reporting, for which we plan to use a Secondary Ledger. I would like to ask for your opinion on the best strategy to meet this requirement.

Questions

I am considering two main approaches and would be grateful for any advice on the potential concerns and constraints of each. If you have experience with a best practice for this scenario, I would appreciate you sharing it.