• The Journal of the Korea Contents Association
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• v.10 no.10
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• pp.334-350
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• 2010

This study aims at investigating the possible effects on the tax accounting practices stemming from adopting the IFRS in financial reporting process. It also seeks for policy implications to help alleviate practical conflicts likely to arise from the inconsistencies between the existing tax law and the tax related IFRS provisions. The results of the survey analysis are summarized as follows: firstly, majority opinion is opposed to the fair value based revaluation of property assets as well as the application of immediate recognition of foreign currency translation gains/losses. It favors the existing provision on asset securitization which adopts sales transaction view. Secondly, most of the respondents oppose the proposed amendments which allows dual classification of lease contracts on the ground. Third, functional currency appears acceptable on a conceptual level, even though a deep concern is expressed regarding the practical feasibility of computing taxable income using financial statements translated on the basis of functional currency on a practical viewpoint. Fourth, many respondents support the existing convention of recognizing depreciation expenses for taxation purposes and are in favor of the separation of accounting and tax books on a long-term basis. Fifth, the majority opinion approves the maintenance of existing tax reconciliation system and the recognition of expenses related with the doubtful accounts on reporting basis. Finally, a concern is raised with regard to the added burden of practical job loads needed to comply with the proposed amendments.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.523-529
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• 2017

This study analyzed the financial information between 2011 and 2014 comparing management performance and utilization of capital and human resources between private non-profit general hospitals and regional public hospitals operated as general hospitals. The purpose of this study was to enhance the productivity for financial independence of regional public hospitals. Comparison analysis variables were value added to the total assets, value added to the productive activity tangible fixed assets, value added to personnel expenses, ratio of value added, and operating margin to revenues. According to the analysis results, regional public hospitals showed lower investment efficiency indicator and higher ratio of value added, as well as significantly lower operating margin-to-revenues compared with private non-profit general hospitals. Moreover, the effect of investment efficiency indicators on operating margin-to-revenues was value added to the productive activity of tangible fixed assets and value added to personnel expenses in regional public hospitals; the value added to personnel expenses in private non-profit general hospitals had a significant effect on the operating margin-to-revenues, the effect of value added to personnel expenses was the greatest. Therefore, it is necessary to asset utilization to the revenue and propriety of human resources to personnel expenses in regional public hospitals.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.231-237
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• 2017

This study examines the relationship between voluntary information disclosure and the effective tax rate using Investor Relation (IR) as the proxy for the level of the firm's voluntary information disclosure, and effective corporate tax rate as the proxy for the level of tax avoidance. This study considers sample data from 1,396 firms listed on the Korea Composite Stock Price Index (KOSPI) from 2011-2014. The results of this study are as follows: Investor Relation (IR) had a positive correlation with effective corporate tax rate. This result got on with the result of additional analysis using extra measurement of effective corporate tax rate. According to these results, we expect that firms featuring greater voluntary information disclosure report enhanced business performance. This study contributes understanding how Investor Relation (IR) affects tax avoidance. We hope that this study can promote the development of capital markets and provide good news to investors for firms that have greater information disclosure.

• Journal of Navigation and Port Research
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• v.36 no.6
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• pp.481-488
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• 2012

As an exploratory research to understand the nature of relationships between ports and their neighboring communities, this study analyzes how ports influence their residents' quality of life(QOL). The QOL was measured by 17 indicators reconstructed by reviewing relevant literatures. As a result, both Busan port and Dalian port were found to have statistically significant influence on many of QOL indicators including general expenditure per capita, number of manufacturing factories per capita, number of factories's laborer per capita, the rate of pavement, number of traffic accident per capita, rate of housing supply, number of financial agencies per capita, park area per capita, number of cultural assets per capita, the size of welfare expenditure per capita, number of fire occurrence per capita. And Busan port have statistically significant influence on QOL indicators including the rate of increase in population, number of public health industries per capita, number of public health industries per capita, number of schools per capita, number of sick-beds per capita, but Dalian port not have influence. Also Dalian port have statistically significant influence on number of crime occurrence per capita, but Busan port not have influence.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.5
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• pp.543-548
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• 2017

This paper examines the effects of strong corporate governance for listed companies in accessing capital markets from the point of view of the weighted average cost of capital. Results found that corporate governance had a significant negative(-) relation to the weighted average cost of capital. This finding is consistent with previous research and implies that the higher shareholder ownership and foreign ownership have confidence in the financial information of the company, and therefore, risk is reduced for investors. This results in lower expected rates of return and companies will pay a lower cost of capital. Second, tax evasion had a positive effect(+) on the weighted average cost of capital. The low quality of corporate accounting information is expected to increase tax avoidance. Accordingly, this results in increased risk. If the required rate of return is high in its impact,it leads to increased capital costs. In addition, corporate governance and tax avoidance factors showed a negative affect (-) on the weighted average cost of capital. Corporate governance plays an important role in tax avoidance and the weighted average cost of capital, and strong corporate governance reducesthe impact on tax avoidance. In addition, the weighted average cost of capital in capital markets showed the reducing effect.

• Korean Business Review
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• v.22 no.2
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• pp.61-86
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• 2009

The purpose of this article is to investigate the effects of cash flow and accrual, which are the elements of earnings, and those of the elements of cash flow and accrual on the consistency of cash flow and firm's value. We analyzed 4 kinds of regression models, of which the independent variables are this period's cash flow, the elements of cash flow, accrual, and the elements of accrual, and the dependent variables are the next period's cash flow, and the stock price at the end of financial statements disclosure months, respectively. The sample firms were the manufacturing companies listed on the Stock Exchange 1980 through 2006, of which the fiscal year ended in December. And, the results of the analyses are as follows: Cash flow and accrual are shown to have significant relationships with cash flow consistency and the evaluations of firms' value. And, the elements of cash flow or accrual proved to have more influence than the total amount of them, on cash flow consistency and the evaluation of firms' value. Also, the results present that some of the elements of cash flow and accrual differently affect cash flow consistency and the evaluation of firms' value. Accordingly, this study indicates that each of the elements of cash flow and accrual needs to be considered respectively rather than the total amount of them, in the case that cash flow and accrual are used in the decision-making concerned with the forecast of cash flow and the evaluation of firms' value. This study also shows that each element of cash flow and accrual needs to be used differently for cash flow forecast and the evaluation of firms' value.

• The Journal of Small Business Innovation
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• v.19 no.3
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• pp.17-42
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• 2016

Financial Accounting Standards Board (FASB) Interpretation No. 48 (FIN 48), Accounting for Uncertainty in Income Taxes: An interpretation of FASB Statement No. 109, requires firms to evaluate uncertain tax positions and disclose information on their liabilities for these positions, unrecognized tax benefits (UTBs). We analyze the FIN 48 disclosures for calendar-year-end Korean companies listed on NYSE and NASDAQ and examine the Korean firms' tax aggressiveness utilizing the UTBs. The results suggest that stock exchange and firm size do not play a role in the Korean firms' tax aggressiveness, contrary to the matched U.S. firms and that the Korean firm in the miscellaneous retail industry is more tax aggressive than the firms in the communications, depository institutions and business services. In addition, we find evidence that the Korean firms are less tax aggressive than the matched U.S. firms. We also examine the Korean firms' tax avoidance tendencies using other measures of avoidance, leading to mixed results. Finally, we examine the association between the UTBs and other measures of tax avoidance and find a significant and negative association between the UTBs and the long-run cash effective tax rate.

• Korean Educational Research Journal
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• v.38 no.3
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• pp.211-230
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• 2018

The purpose of this study is to analyze the effectiveness of secondary school SMART education. In order to achieve this, the paper separated the high school which implements the smart education for the high school and the high school which did not apply the smart education concept, then figuring out the answer about what school is more effective, the influence of the smart education concept on the students' emotions and academic achievement. This paper analyzed the effectiveness of SMART Education between Hansol high school in SeJong city and Jungang high school in Gwachen city by using 'schoolinfo (www.schoolinfor.go.kr) SMART education.' This study first presented the SMART Education's concept and characteristics through reviewing some literature, and then categorized the characteristics by using the items included academic achievement and emotional effect. These items consist of the 'students academic scores' for the academic achievement, 'the number of students dropped out' and 'the damage rate of school violence' for the emotional items. The conclusion of this study is that Hansol high school indicates lower school violence rate than Gwachen high schools with the two school's violence rate decreasing. Moreover, students' score of Hansol high school is higher than high schools in Gwachen city. The SMART education school budget structure is 'Common type', which requires a lot of investment to 'Basic education activities', 'educational activities support', 'School general operating expenses' among education budget items.

• Korean Journal of Social Welfare
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• v.50
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• pp.209-233
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• 2002

This study is to identify the relationship in non-profit social welfare organizations(SWOs) between financial sources and service delivery. Especially the impact of the former to the latter is its main concern. For this purpose, gathered are the 1992, 1999 financial reports of those study organizations, and some qualitative data on a number of the organizations collected by the author is also used for verifying and interpreting the data. Gronbjerg's study(1992) provided an analytical tool for decomposing financial structure of human service organizations, and resource-dependency perspective was a theoretical framework for interpreting the impact of financial composition to service delivery. The findings are as follows: (1) Between 1992 and 1999, there was a noticeable change in financial composition among SWOs. Government subsidies has increased in terms of both amounts and percentages, for residential facilities 75% to 82% and for nonresidential facilities 37% to 47%. Funding from donations shows no abrupt changes, although absolute amounts were slight increasing. Fees were sharply decreasing, especially for the non-residential facilities which previously enjoyed them as valuable resources for preventing unnecessary influence from government. (2) The funding sources of SWOs and their strategies to acquire them has impact on service delivery. Although non-government fundings(donations and fees) were found to give elasticity to SWOs, various problems associated with acquiring them (i.e., changing the clientele) would prohibit SWOs from fully concentrating to those fundings. Meanwhile, government fundings are characterized as stable, and, as such, most of the SWOs prefers. Limited elasticity, red-tape, 'sacrifice of quality of service' over efficiency, etc. are referred to the problems.

• Journal of the Korea Society of Computer and Information
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• v.10 no.3 s.35
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• pp.297-306
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• 2005

Compendium of arithmetic, geometry, and proportions and proportionality' that was published in Venice in 1494 has been recognized as the first bookkeeping data in the world. Major characteristics of Pacioli's bookkeeping rules were reviewed in this study as follows: All the necessary particulars for double entry bookkeeping were provided in Pacioli's bookkeeping rules;. List of property was described at the time of start of business; Three major books were used; Details of daily transactions were considered to be important; Strike through was lined at each description in journal books, details of daily transactions, and list of property after entry of ledger; Amount columns were provided and Arabic numerals were used; Annual settlement custom was being initiated; Profit and loss account was prepared at year-end; Trial balance sheet was inevitably described; Books were verified prior to closing accounts; Control account was not established; Financial statements were not prepared and business analysis was made, too; Finished goods inventory was not adjusted; Mark was assigned to books; Inter-office account was prepared; Branch accounts and branch ledgers were prepared; There was entries of trust; Current arrangement was described; The principle 'Cost or market price, whichever is lower basis' was promoted: Petty cash system is explained Checks and bills of exchange are used in bank account. As mentioned, characteristics of Pacioli's bookkeeping rules were reviewed; the signs of necessity for preparation of profit and loss statement and balance sheet is found as well as preparation of trial balance sheet and the rules may be considered as a very excellent one in terms of the bookkeeping on initiating stage of double entry bookkeeping.