K-IFRS 도입에 따른 재무제표 항목, 재무비율 및 발생액의 변화

초록

This paper analyzes the effects of mandatory K-IFRS adoption on the financial statements items, financial ratios and accruals for firms listed on Korea Stock Exchange in 2011. For 582 listed firms which disclose 2009 and 2010 statements of financial position and 2010 comprehensive income statements prepared by K-IFRS, this paper evaluates the effects of the differences in accounting reporting standards of K-GAAP and K-IFRS while controlling for the effects of externalities in the periods before and after K-IFRS adoption on financial statement information. The analysis of the financial statements items reports that assets, liabilities, and equity items prepared by K-IFRS significantly increase in average. Particularly, of the other items of the statement of financial position, accounts receivables, intangible assets, and investment properties show significant increase. The analysis of income statement items finds significant differences in the volatility of operating income across companies. In addition, although income before income taxes, net income, and total comprehensive income show little differences in average, they appear substantial differences among industries and among companies. The analysis of financial ratios reports that capital structure, profitability, and activity related financial ratios deteriorate, but changes in these ratios vary among companies and among industries. And the adoption of K-IFRS resulted in a significant reduction of total accruals. Positive discretionary accruals, negative discretionary accruals and absolute discretionary accruals all show significant decreases compared to those accruals measured from the financial statements information prepared by K-GAAP. The results of this study provides meaningful references to related governmental organizations and any interested parties who evaluate the effects of K-IFRS adoption on the financial statements information. Further, because K-IFRS adoption has significant effects on various financial statements items as well as the financial statements ratios and accruals, studies which utilize the financial statement information covering the periods of K-GAAP and K-IFRS application should separate and consider the effects of K-IFRS adoption on financial statements information.

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