• Asia-Pacific Journal of Business
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• v.10 no.4
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• pp.31-47
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• 2019

The recently revised Act on External Audit has taken effect as of November 2018, where standard audit hour rule is included to enhance the audit quality requiring appropriate audit hour input. It has two issues, one is how much the standard audit hours should be and the other is how to control the auditor proficiency between positions when deciding standard audit hours. This paper focuses on the latter issue and studies if auditor proficiency measured with the KICPA position proficiency weight is economically meaningful and has audit quality implication. The KICPA proficiency weights of partner and junior CPA are 1.2, and 0.4 with senior CPA being 1. The results are as follows. First, we find that the audit proficiency decreases discretionary accruals, the proxy of audit quality. Second, the degree to which the audit proficiency decreases discretionary accruals is pronounced with non-big4 firm. The results imply that the KICPA position proficiency weight reflects auditor experiences which help to improve audit quality.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2010.05a
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• pp.184-186
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• 2010

최근 모든 상장기업에 도입이 의무화된 국제회계기준(IFRS : International Financial Reporting Standards)의 주요한 특징 중에 하나는 원칙 중심이기 때문에 꼭 필요한 원칙만을 규정하고 나머지는 기업들이 자율적으로 작성하도록 허용하고 있다는 것이다. 이러한 특징은 기업 스스로의 작성규칙을 합리적으로 관리하고, 처리의 적절성을 증명해야하기 때문에 기존의 획일적인 회계처리시스템으로는 이러한 회계처리규칙을 효율적 관리를 하기 어려운 문제를 안고 있다. 비즈니스 룰(Business Rule)을 관리하고 처리하는 BRMS(Business Rule Management System)는 이러한 회계처리 규칙들을 원칙과 자율적인 회계규칙들로 나누고, 상황에 따라 자율적인 회계규칙들의 적용과 적용결과를 모니터링하고, 관리할 수 있는 방법을 제공할 수 있다. 본 논문에서는 BRMS의 비즈니스 룰에 의하여 처리되는 회계프로그래밍의 틀을 제시함으로써 정해진 회계원칙과 자율적인 회계규칙을 반영하여 회계를 처리하고 관리할 수 있는 방안을 제시한다.

• Journal of Information Processing Systems
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• v.1 no.1 s.1
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• pp.41-48
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• 2005

This paper presents the development of a morphological processor for the Mongolian language, based on the two-level morphological model which was introduced by Koskenniemi. The aim of the study is to provide Mongolian syntactic parsers with more effective information on word structure of Mongolian words. First hand written rules that are the core of this model are compiled into finite-state transducers by a rule tool. Output of the compiler was edited to clarity by hand whenever necessary. The rules file and lexicon presented in the paper describe the morphology of Mongolian nouns, adjectives and verbs. Although the rules illustrated are not sufficient for accounting all the processes of Mongolian lexical phonology, other necessary rules can be easily added when new words are supplemented to the lexicon file. The theoretical consideration of the paper is concluded in representation of the morphological phenomena of Mongolian by the general, language-independent framework of the two-level morphological model.

• Journal of Intelligence and Information Systems
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• v.20 no.4
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• pp.141-154
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• 2014

The adoption of International Financial Reporting Standards (IFRS) is the one of important issues in the recent accounting research because the change from local GAAP (Generally Accepted Accounting Principles) to IFRS has a substantial effect on accounting information. Over 100 countries including Australia, China, Canada and the European Union member countries adopt IFRS (International Financial Reporting Standards) for financial reporting purposes, and several more including the United States and Japan are considering the adoption of IFRS (International Financial Reporting Standards). In Korea, 61 firms voluntarily adopted Korean International Financial Reporting Standard (K-IFRS) in 2009 and 2010 and all listed firms mandatorily adopted K-IFRS (Korea-International Financial Reporting Standards) in 2011. The adoption of IFRS is expected to increase financial statement comparability, improve corporate transparency, increase the quality of financial reporting, and hence, provide benefits to investors This study investigates whether recognized accounts receivable discounting (AR discounting) under Korean International Financial Reporting Standard (K-IFRS) is more value relevant than disclosed AR discounting under Korean Generally Accepted Accounting Principles (K-GAAP). Because more rigorous standards are applied to the derecognition of AR discounting under K-IFRS(Korea-International Financial Reporting Standards), most AR discounting is recognized as a short term debt instead of being disclosed as a contingent liability unless all risks and rewards are transferred. In this research, I try to figure out industrial responses to the changes in accounting rules for the treatment of accounts receivable toward more strict standards in the recognition of sales which occurs with the adoption of Korea International Financial Reporting Standard. This study examines whether accounting information is more value-relevant, especially information on accounts receivable discounting (hereinafter, AR discounting) is value-relevant under K-IFRS (Korea-International Financial Reporting Standards). First, note that AR discounting involves the transfer of financial assets. Under Korean Generally Accepted Accounting Principles (K-GAAP), when firms discount AR to banks before the AR maturity, firms conventionally remove AR from the balance-sheet and report losses from AR discounting and disclose and explain the transactions in the footnotes. Under K-IFRS (Korea-International Financial Reporting Standards), however, most firms keep AR and add a short-term debt as same as discounted AR. This process increases the firms' leverage ratio and raises the concern to the firms about investors' reactions to worsening capital structures. Investors may experience the change in perceived risk of the firm. In the study sample, the average of AR discounting is 75.3 billion won (maximum 3.6 trillion won and minimum 18 million won), which is, on average 7.0% of assets (maximum 38.6% and minimum 0.002%), 26.2% of firms' accounts receivable (maximum 92.5% and minimum 0.003%) and 13.5% of total liabilities (maximum 69.5% and minimum 0.004%). After the adoption of K-IFRS (Korea-International Financial Reporting Standards), total liabilities increase by 13%p on average (maximum 103%p and minimum 0.004%p) attributable to AR discounting. The leverage ratio (total liabilities/total assets) increases by an average 2.4%p (maximum 16%p and minimum 0.001%p) and debt-to-equity ratio increases by average 14.6%p (maximum 134%p and minimum 0.006%) attributable to the recognition of AR discounting as a short-term debt. The structure of debts and equities of the companies engaging in factoring transactions are likely to be affected in the changes of accounting rule. I suggest that the changes in accounting provisions subsequent to Korea International Financial Reporting Standard adoption caused significant influence on the structure of firm's asset and liabilities. Due to this changes, the treatment of account receivable discounting have become critical. This paper proposes an intelligent diagnostic system for estimating negative impact on stock value with self-organizing maps and case based reasoning. To validate the usefulness of this proposed model, real data was analyzed. In order to get the significance of this proposed model, several models were compared to the research model. I found out that this proposed model provides satisfactory results with compared models.

• Management & Information Systems Review
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• v.35 no.1
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• pp.189-206
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• 2016

It was required to attach the documents on the details of external audit including the number of the participants in external audit, audited parts and audit times under the Article 7-2 on the audit report to the accounting audit report from 2014 in accordance with the amendment to the Act on External Audit of Stock Companies. This study aim to calculate the audit fee based on the estimated cost of service calculation of the government contribution agencies by reflecting the implementation of the revised external audit. This study calculated the audit fee for the target company (a listed company assumed to have no internal control risks and relevant audit risks for unqualified opinion in the previous year, 100 billion won of total amount of asset, manufacturing company in the previous year and preliminary client request) by putting together four items of expenditure including employment costs, expenditure, general management expenses and profit in accordance with the calculation system of cost of service under the State Contract Act. Then, it used the data collected from the documents on the details of the revised external audit after requesting estimation on the target company with the estimated cost to Big-4 accounting firms to identify the participants and times of the accounting audit. The employment costs applied 150% of participation rate of the base price of employment costs for the academic research service cost in 2014, the expenditure used the average value of accounting firms of corporate business management analysis of the Bank of Korea (2013), the general management expenses applied 5% of the general management rate of service business under Article 7-1 of the Enforcement Rule of the Act on Contracts to which the State is a Party and the profit applied 10% of profit rate of service business under Article 7-2 of the Enforcement Rule of the Act on Contracts to which the State is a Party. Based on the calculation of the estimated costs by applying the above, the audit fee was estimated at 50,617,769won. Although the result is not the optimal audit fee, it may be used as a basic scale to compare the audit fees of companies without criteria. Also, such amendment to the Act on External Audit of Stock Companies may improve independence of auditors and transparency of the accounting system rather than previous announcing only the total audit times.

• Land and Housing Review
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• v.3 no.4
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• pp.333-341
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• 2012

The financial resources for public land banking enacted by Public Land Banking Act (2009) are LH (Korea Land and Housing Corporation) contributions, LH Bond, Land Bank revenues, etc. But, in real, the efficient funding resource is mainly LH bond. In these days, LH has experienced deep financial distress, and difficulties in issuing it's bond. Therefore, Land Banking project also has been inactivated because of poor financial resources. As Land Banking project depending its financial resources mainly on LH Bond does not have financial sustainability, it is necessary to reform the fundamental funding structure. This is the starting point for the topic of this paper. This paper suggests to reform the funding structure, and to introduce Land Bank Bond guaranteed by Government, and also to modify the accounting method of Land Bank to separate the Land Bank accounts with LH accounts. The funding structure reform can be summarized as follows; In early stage of the Land Banking project, sufficient government support by guaranteeing the Land Bank Bond is necessary. Gradually, the portion of LH's contribution can be increased in company with LH's financial distress being solved and administration being normalized. When the project reached on the stage of maturity, cash inflows by selling the reserved land can exceed the cash outflows for reserve new land. To introduce the Land Bank Bond guaranteed by government, the Public Land Banking Act (2009) should be revised. Along with this, to modify the accounting method of Land Bank, the rule for public enterprise accounting system must be partially revised.

• East Asian Economic Review
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• v.23 no.4
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• pp.409-427
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• 2019

This paper sets up a new Keynesian model with external habit to explore the role of each shock over business cycles in Korea. The estimated model via maximum likelihood shows that the productivity shock plays a pivotal role in explaining the output variations before and after the financial crisis since mid-1970s. It also shows that the model with external habit is more successful in explaining the business cycles in Korea after the Asian financial crisis than the model without habit. The monetary policy shock which dominates by accounting for more than 70 percent of the unconditional variance of the inflation rate before the financial crisis is less important in the inflation rate fluctuations after the financial crisis. This partly reflects the regime change of the monetary policy to the inflation targeting rule after the financial crisis.

• KDI Journal of Economic Policy
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• v.29 no.1
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• pp.137-175
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• 2007

This paper studies the fiscal issues with regard to BTL (Build Transfer Lease) scheme projects, a newly introduced type of PPPs (Public Private Partnerships) in 2005 and tries to provide some policy options. More specifically, we make suggestions to work out the issues such as how to account for BTL transactions and whether to introduce annual budget ceiling system for BTL payment, while we introduce and analyze the experiences of some other advanced countries and international institutes.

• Language and Information
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• v.16 no.2
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• pp.1-15
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• 2012

In accounting for the so-called copy raising (CR) in English, the movement perspective has assumed that the embedded subject of the CR verb's sentential complement is raised to the matrix subject, leaving behind its pronominal copy. This kind of movement-based analysis raises both empirical and analytical issues, when considering variations in the pronominal copy constraint. This paper investigates the actual uses of the construction, using online-available corpora. Based on this corpus search, we classify two different types of copy raising predicates (genuine and perception), and discuss their grammatical properties in detail. We suggest that the simple copying rule couched upon movement operations is not enough to capture great variations in the uses of the construction, and show that interpretive constraints, e.g., perceptual characterization condition, play an important role in licensing the construction.

• Advances in concrete construction
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• v.13 no.5
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• pp.377-384
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• 2022

The present paper deals with nonlinear deflection analysis of hyperelastic plates rested on elastic foundation and subject to a transverse point force. For modeling of hyperelastic material, three-parameter Ishihara model has been employed. The plate formulation is based on classic plate theory accounting for von-Karman geometric nonlinearity. Therefore, both material and geometric nonlinearities have been considered based on Ishihara hyperelastic plate model. The governing equations for the plate have been derived based on Hamilton's rule and then solved via Galerkin's method. Obtained results show that material parameters of hyperelastic material play an important role in defection analysis. Also, the effects of foundation parameter and load location on plate deflections will be discussed.