• Asia-Pacific Journal of Business
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• v.11 no.3
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• pp.123-136
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• 2020

Purpose - This study is to verify the impact of the documentation of key audit matters on the value relevance of accounting information in accordance with the revised accounting audit standards in 2017. Investors will be able to identify the company's significant financial risks through key audit matters and use them to make investment decisions. Design/methodology/approach - From 2011 to 2019, the final sample is 290, based on the December settlement of accounts listed on the securities market. Ohlson (1995) was used to verify the incremental link between net income and the book value as a determinant of corporate value. Findings - First, the key audit matters in the financial industry was found to have a negative (-) effect that was significant to the value relevance of accounting Information. In addition, the value of the interaction between the key audit matters and the net income is a significant (+) relationship with the share price and the value of the interaction between the key audit matters and the book value is a significant (-) relationship with the share price. This means that the key audit matters is the determining factor of corporate value, positively reflects the accounting information in net income and negatively reflects the accounting information in book value. Second, among the key audit matters, the fair value assessment of financial instruments and the adequacy of premiums reserve have a significant impact on the value relevance of accounting information. Research implications or Originality - The results of this study suggest that investors recognize key audit matters as information about the company's major financial risks and reflect them differently in the value relevance of accounting information.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.233-243
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• 2020

This study aims to assess the impacts of COVID-19 on International Financial Reporting Standards (IFRS), because of the problems associated with changing and amending the financial reports according to the policies established based on the circumstances of the epidemic. The study sample targeted several international financial reports that were amended based on epidemic conditions. The revised financial reporting period provides standardized reporting procedures for financial transactions worldwide despite the pandemic. Therefore, IFRS has been used to reduce challenges in financial reporting by monitoring the duration of social distancing while reporting matters to eliminate confirmed uncertainty and judgment. After analyzing the data obtained through global search engines, the results conducted provided evidence that COVID-19 affects financial reporting in companies around the world. Therefore, companies face difficulty reporting finances based on the challenging environment that the pandemic represents. Besides, IFRS fair value measurements consider the prices that were predicted according to current market values. The contexts of the changing the standards by IFRS to curb the effects of the COVID19 financial reporting was attained through evaluation of the online files that were randomly selected and filtered to obtain valid data.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.33-45
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• 2019

This study analyzed the association between IFRS adjustments, measured with the IFRS reconciliations, and the subsequent meeting of target earnings. IFRS adjustments include the amounts to be adjusted intentionally, as well as the differences in accounting standards. This study estimated intentional IFRS adjustments and analyzed their association with meeting target earnings. As the results of our analysis, meeting target earnings was associated positively with intentional IFRS adjustments for the total assets, was negatively associated with them for current assets, and was positively associated with them for non-current assets. Since understatement of current assets can be realized into earnings in a short period of time, it seems that current assets were underestimated intentionally in order to meet target earnings subsequently. In contrast, it is considered that non-current assets were overestimated to make them more likely to meet target earnings either by increasing the firm size or by improving financial solvency. The results of this study imply that IFRS adjustments are useful to manage earnings for meeting target earnings. Since accounting standards may be established and revised constantly, which adjustments for them may occur, the results on IFRS adjustments are expected to have implications for investors, policy-makers, and standards establishment entities.

• Journal of Digital Convergence
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• v.8 no.3
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• pp.143-154
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• 2010

This paper is to understand what effects the introduction of IFRS(International Financial Reporting Standard) will have on legacy AIS(Accounting Information System) and how to minimize the problems of that. In order to meet that purpose, we have to recognize the difference between K-GAAP(Korea-Generally Accepted Accounting Principles) and K-IFRS(Korea-International Financial Reporting Standards) first. And then we try to find out what effects the difference between K-GAAP and K-IFRS will have on the legacy AIS. In order to avoid the disorder When K-IFRS will be introduced to the company, new functions have to be added to existing system in proper manner and some existing functions should be changed correctly according to K-IFRS. And CIO(Chief Information Officer) should have to make a careful decision what is the better solution between in-house development and outsourcing for developing new system.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.209-217
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• 2020

Taxes are levied in almost every country, primarily to raise revenue for government expenditures. This study explores factors influencing tax compliance of small- and medium-sized enterprises (SMEs) in Vietnam. Data from 376 SMEs, who are business taxpayers, were collected through a researcher-administered questionnaire survey method. The results indicate that six groups of factors have significant impacts on tax compliance among Vietnamese SMEs. These groups include: Business characteristics (BC), Characteristics of accounting practices within organization (AP), Awareness of tax obligations (TO), Tax policy (TP), View on tax compliance (TC), and Probability of tax examination on taxpayer compliance (TE). Multivariate analysis was adopted; Cronbach's alpha coefficients were calculated, then, Exploratory Factor Analysis (EFA) was used. The findings show that, among these six factors, the most influential is Characteristics of accounting practices (AP). Thus, it is recommended that tax agencies should help SMEs improve their accounting skills and increase their knowledge by organizing training workshops and short courses on taxation. SMEs also need to have an adequate accounting system in accordance with principles and standards prescribed by the Tax Law. It is expected that this study can provide important insights and understandings to policy-makers, practitioners, academicians and other regulatory authorities in tax policy formulations.

• Journal of Korea Society of Industrial Information Systems
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• v.20 no.6
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• pp.11-20
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• 2015

This paper describes design and implementation experience of SAS-G2S slotmachine accounting protocol middleware system that converts the legacy binary format SAS (Slot Accounting System) protocol with servers with recent standards G2S protocol. The paper examines the difference of two protocols such as link control, message format, and parameters. The converter architecture uses bridge and connector patterns and implemented in C++ and Python mixed language on Linux environment. The prototype system uses a 1GMHz-512MB linux machine and has passed Korean official protocol compatibility and performance test in 2015.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.277-286
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• 2021

This paper examines the readiness of Jordanian insurance companies to apply the International Financial Reporting Standards (IFRS 17), and the challenges of its application. The study developed a questionnaire based on prior related studies, and in the light of IFRS 17, the study used different statistical methods and techniques such as means, standard deviation, and t-test to achieve its goals. The results indicate that Jordanian insurance companies are not ready to apply IFRS 17, for several reasons. Most importantly, insurance companies have a low level of ability to define the scope of IFRS 17, study the impact of IFRS 17 application to financial reports, and develop new internal monitoring methods to apply IFRS 17. As for the challenges for applying IFRS 17, the biggest is the data challenge, followed by the challenges of first-time implementation, systems, and results and presentation. Finally, this paper advocates that it has become important for Jordanian insurance companies and supervisory bodies to enhance their readiness to apply IFRS 17 within a scheduled time framework and by taking several preparatory steps: performing simulations consisting of procedures to deal with IFRS 17 requirements and the impact on financial reports, and helping human resources with familiarization and application of IFRS 17.

• International Journal of High-Rise Buildings
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• v.8 no.4
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• pp.265-273
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• 2019

The purpose of this review paper is to briefly describe main the features of novel procedures developed by the National of Standards and Technology (NIST) for the design of tall buildings. Topics considered in the paper include: the division of tasks between wind and structural engineers; the determination of wind effects with specified mean recurrence intervals by accounting for wind directionality; the risk-consistent design of structures subjected to multiple wind hazards; iterative dynamic analyses and member sizing, including the use of modern optimization approaches; and commonalities of and differences between Database-assisted Design (DAD) and Equivalent Static Wind Loads procedures. An example of the application of the DAD procedure is presented for a reinforced concrete structure. Also included in the paper is an introduction to ongoing research on the estimation of wind load factors or of augmented design mean recurrence intervals commensurate with the uncertainties in the factors that determine the wind effects.

• Journal of the Institute of Electronics Engineers of Korea TC
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• v.41 no.1
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• pp.73-82
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• 2004

As a new service category to better support TCP traffic in ATM networks, the Guaranteed Frame Rate (GFR) service category aims to support minimum cell rate guarantee, fairly distribute available bandwidth while keeping the simplicity of Unspecified Bit Rate (UBR). In this paper, we proposed a buffer management scheme which uses the per-VC accounting of single FWO queue and capable of supporting both GFR.1 and GFR.2 conformance definition. The proposed buffer management deal with GFR.1 and GFR.2 conformance definitions differentially by controlling the number of CLP=0 cell and CLP=1 cell which are occupying buffer space. The simulation results show that our proposed scheme satisfies the requirements of GFR services as well as improves total fairness index and each conformance definition fairness index.

• Journal of Wellbeing Management and Applied Psychology
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• v.6 no.2
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• pp.39-46
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• 2023

Purpose: The small-scale environmental impact assessment system in Korea was introduced and implemented in August 2000, but it has a problem that it cannot guarantee implementation due to the large proportion of qualitative reduction measures for each evaluation item. Therefore, when preparing a small-scale environmental impact assessment, research was conducted on how to improve the existing simple listing-type reduction measures and qualitative evaluation standards to quantitative reduction measures and evaluation standards reflecting regional characteristics. Research design, data and methodology: The small-scale environmental impact assessment system in Korea was introduced and implemented in August 2000, but it has a problem that it cannot guarantee implementation due to the large proportion of qualitative reduction measures for each evaluation item. Therefore, when preparing a small-scale environmental impact assessment, research was conducted on how to improve the existing simple listing-type reduction measures and qualitative evaluation standards to quantitative reduction measures and evaluation standards reflecting regional characteristics. Results: As a result of the analysis of qualitative and quantitative factors, the arithmetic sum of the qualitative factors of the total six projects is 160, accounting for 80% of the total number of reduction measures, and the quantitative factors are 40, accounting for 20%. Among them, the number of qualitative reduction measures reached 97.4% for animal and plant items, and more than 90% for air quality, noise and vibration, and eco-friendly resource circulation items. Conclusions: Therefore, it is necessary to avoid establishing qualitative reduction measures and set quantitative measures as the basis, but to specify the specifications, size, and installation location related to the reduction measures, and to calculate the numerical reduction efficiency.