• Journal of Digital Convergence
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• v.17 no.11
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• pp.163-170
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• 2019

A new revenue recognition standard was adopted in 2018. The purpose of this paper is to analyse how K-IFRS 1115 'Revenue from Contracts with Customers' affects the revenue recognition of the telecommunication firms and to suggest a regulatory policy for the telecommunications industry. It shows identifying performance obligations for bundles, determining the transaction price and allocating the transaction price to the performance obligation and how to account for it using case study. The most important change in the telecommunication companies's revenue is to allocate the transaction price to two performance obligations: telecom services and mobile handset sales. As a result, sales revenue are expected to drop en masse. This study provides important implications for the regulatory accounting policy of the telecommunications industry.

• Management & Information Systems Review
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• v.36 no.3
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• pp.151-165
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• 2017

This study investigates the effect of revenue recognition by percentage of completion method on financial analysts' earnings forecasting information in order industry. Specifically, we examines how the analysts' earnings forecast errors and biases differ according to whether or not to report the unbilled revenue account balance and the level of unbilled revenue account balance. The sample consists of 453 firm-years listed in Korea Stock Exchange during the period from 2010 to 2014 since the information on unbilled revenue accounts can be obtained after the adoption of K-IFRS. The results are as follows. First, we find that the firms with unbilled revenue account balances have lower analysts' earnings forecast accuracy than the firms who do not report unbilled revue account balances. In addition, we find that the accuracy of analysts' earnings forecasts decreases as the amount of unbilled revenue increases. Unbilled revenue account balances occur when the revenue recognition of the contractor is faster than the client. There is a possibility that managerial discretionary judgment and estimation may intervene when the contractor calculates the progress rate. The difference between the actual progress of the construction and the progress recognized by the company lowers the predictive value of financial statements. Our results suggest that the analysts' earnings forecasts may be more difficult for the firms that report unbilled revenue balances as applying the revenue recognition method based on the progress criteria. Second, we find that the firms reporting unbilled revenue account balances tend to have higher the optimistic biases in analysts' earnings forecast than the firms who do not report unbilled revenue account balances. And we find that the analysts' earnings forecast biases are increases as the amount of unbilled revenue increases. This study suggests an effort to reduce the arbitrary adjustment and estimation in the measurement of the progress as well as the introduction of the progress measurement method which can reflect the actual progress. Investors are encouraged to invest and analyze the characteristics of the order-based industry accounting standards. In addition, the results of this study empower the accounting transparency enhancement plan for order industry proposed by the policy authorities.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.4
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• pp.97-109
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• 2014

The purpose of this study is, as to verify the effect of IR announcements, the IR activity to look at the usefulness. In previous study, they found that the IR announcement leads to reductions in information asymmetry, effect to positive stock price. This study examine the abnormal returns between group by corporate characteristics. The data used in this study are daily stock market returns taken from the KOSDAQ listed company with IR announcements during the 2005-2012 year(8 year). We find that follows. First, the capital market is accepted IR activity as the positive information. Second, abnormal returns of small company is higher than big size that. We show the difference of abnormal returns between the venture company and general company, the venture company's high. The abnormal returns of corporate with high ownership is above the group of low ownership. Additionally, consider interaction by firm characteristics, we show the interaction between firm size and business type. The result of two-way ANOVA is that venture corporate with big size are more abnormal returns than others. Also, we demonstrate that firm location is the factor of difference on information effect in venture firm.

• Journal of the Korea Institute of Building Construction
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• v.16 no.5
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• pp.463-470
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• 2016

Construction companies calculate their revenues and costs from constructing activities using the 'Percentage of Completion Method', which is based on ratio of actual construction cost to total costs estimated. The reliability of the net profit of construction companies is being evaluated lower than other industries due to incorrect application of 'Percentage of Completion Method' to cover losses actually occurred. Therefore, the purpose of this study is to verify the quality of earnings calculated based on 'Percentage of Completion Method' in terms of information usefulness. Results from empirical analysis show that investors in stock market underestimate the value of the construction companies' earning information by applying 'Percentage of Completion Method' and not actively use in investment decision making. Accordingly, it has been confirmed that the association between income information and stock prices falling. These results suggest the need for strict supervision of the supervisory authorities and the practical application of 'Percentage of Completion Method' in reliability.

• Korean Journal of Construction Engineering and Management
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• v.8 no.2
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• pp.59-67
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• 2007

The cost of low-income groups's housing expenses have been weighting since 2000. To solve this problem, governments encourage supplying rental apartments for them. House rental supplement is most common things to solve housing problem in an advanced country but there is neither earning rate nor assessment standards in our country. Therefore, studies on house rental supplement are required to develop this systems. Hence in this study, we try to suggest both proper house rental charge to encourage nongovernmental construction and house rental supplement, considerng ability to pay.

• Journal of Korea Port Economic Association
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• v.23 no.3
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• pp.29-51
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• 2007

The purpose of this study aims to explore shipowner's lost profit and its claim resulted from delay in redelivery under time charter with the Achilleas case. In this case, the charterers submitted that there was an established prima facie measure of damages in cases of late delivery, namely the difference between the market rate and the charter-party rate for the period from the time when the vessel should have been delivered until the time of her actual redelivery. An award for lost profit in respect of a subsequent charter could only be made under the second limb because the charterers had not been told, at or before the making of the addendum, that the owners were going to enter into a subsequent fixture and that it was critical that redelivery take place on time. However, the owners said their losses that was a not unlikely consequence of the charterers' breach. There was no special rule that the first limb could only lead to damages calculated by taking the difference between the market and the charter-party rate for the overrun. To award damages in the Achilleas case on the basis of the difference between the market and the charter rate for the overrun would compensate the owners for only a fraction of the true loss caused by the breach.

• The Korean Journal of Financial Studies
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• v.11 no.1
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• pp.61-99
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• 2005

신용평가제도는 오늘날 그 영향력이 강력해져 사실상 세계자본시장의 문지기역할을 하고 있다. 본 논문에서는 이와 같이 신용평가기관의 중요성과 영향력의 증대와 더불어 이들 평가기관의 활동에 대한 비판과 감시가 커지고 있는 이때에 아직 선진수준에 미치지 못하는 국내신용평가기관들의 현황과 평가체계를 살펴보고 선진국의 신용평가기관들과 비교해 봄으로써 앞으로 나아갈 방향을 모색해보고자 하였다. 국내 신용평가기관들의 현황을 살펴본 결과 신용평가절차에 있어서 기준이 경영상태, 성장성, 그리고 재무구조의 건전성에 있어야 함에도 불구하고 이러한 기본적인 요인들의 영향력은 미미한 반면, 비공개적이고 불투명하며 비경제적인 요인들이 중요한 비중을 차지하고 있었다. 이에 반하여 선진신용평가기관들의 분석결과는 그 신뢰도에 믿음을 가질 수 있고, 대내외적인 공신력을 인정받고 있으며, 평가과정이 매우 주관적이어서 그 내용을 모두 공개하지 않지만, 국내의 신용평가과정보다는 투명성을 인정받고 있다는 것도 사실이다. 따라서 국내신용평가기관들의 나아갈 바를 살펴보면 다음과 같다. 첫째, 비재무적 요인의 평가기준에 대한 인식의 재정립이 요구되고 있다. 장기적인 시각으로 비재무적 요인에 대한 평가기준과 방법에 대한 체계의 정립이 요구되며, 전문적이고 객관적이면서도 뚜렷한 평가기관의 주관이 있는 평가가 이루어져야 할 것이다. 둘째, 신용평가방법과 기준의 강화로 대외적인 공신력을 얻도록 해야 한다. 이를 위한 방안의 하나로 성장성, 수익성, 그리고 안정성 비율 모두를 반영할 수 있는 신용평가모형을 개발하고, 자기자본비율의 대폭적인 상승이나 현금흐름의 양호여부, 경제적 부가가치(EVA), 고정장기적합률의 이행기준의 설정 등에 대한 평가기준의 재정립이 강구되어야 할 것이다.

• Journal of Korean Academy of Nursing
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• v.38 no.1
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• pp.161-171
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• 2008

Purpose: The aim of this study was to analysize net income of a surgical nursing ward in a general hospital. Method: Data collection and analysis was conducted using a performance-based costing and activity-based costing method. Result: Direct nursing activities in the surgical ward were 68, indirect nursing activities were 10. The total cost volume of the surgical ward was calculated at \119,913,334.5. The cost volume of the allocated medical department was \91,588,200.3, and the ward consumed cost was \28,325,134.2. The revenue of the surgical nursing ward was \33,269,925.0. The expense of a surgical nursing ward was \28,325,134.2. Therefore, the net income of a surgical nursing ward was \4,944,790.8. Conclusion: We suggest that to develop a more refined nursing cost calculation model, a standard nursing cost calculation system needs to be developed.

• Proceedings of the Korea Information Processing Society Conference
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• 2002.11c
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• pp.2195-2198
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• 2002

전 세계적으로 전자상거래의 수요가 폭발적으로 증가하고 있고, 많은 개인과 기업들이 전자상거래 사이트를 구축하여 운영하고 있지만 이를 사업적인 측면에서 수익과 연결시키지 못하고 있으며, 소비자에게 편리한 구매를 지원하지 못하는 등 많은 문제점이 야기되었다. 따라서 본 논문에서는 전자상거래 사이트의 합리적인 평가 모델을 제시함으로써 전자상거래 웹사이트의 구축과 운영상의 기초 자료를 제공하고, 효율적 관리 및 활용 촉진을 도모하고자 한다. 따라서 현재 전자상거래 웹사이트의 실태를 점검 평가함으로써 궁극적으로 서비스 향상 그리고 개인과 기업 또는 조직의 생산성 향상 및 이윤 극대화 방안을 모색할 수 있을 것이다. 본 논문에서는 웹사이트의 성격에 따라 평가하는 기준과 가중치 또한 다르다는 인식 하에 선행연구와 여러 기관들의 평가기준을 고찰한 후, 평가변수의 체계적인 분석을 통해 전자상거래 웹사이트의 새로운 측정의 틀을 설계하고 이에 따른 평가 모델을 구축 제시하였다. 본 평가 모델을 통한 전자상거래 웹사이트의 평가는 운영자의 입장에서는 웹사이트의 효율적인 운영과 예산에도 많은 영향을 미칠 것이고, 이는 사용자 측면에서도 더욱 유리한 방향의 효과가 나타날 것이다.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2009.10a
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• pp.663-666
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• 2009

The usage of fixed call services and public payphones decreased due to the mobile services became general communications tools and the new VoIP services are emerging. Public phone services are included in the scope of universal services and the prices of services is low and the services are easy to access anywhere. However the telecommunication markets are changed then the loss of public payphone services gets worse and the importance of public payphone have decreased. This paper reviewed the universal services regulations of public payphones in overseas countries and proposed the implications of improving the universal service regulations for public payphones.