• 디지털융복합연구
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• 제8권3호
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• pp.143-154
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• 2010

본 논문은 국제회계기준의 도입이 기존 회계정보시스템에 어떠한 영향을 미치는 지 알아보고, 변화에 따른 부작용을 최소화하기 위함이다. 이를 위해서 우선 국제회계기준과 국내회계기준이 어떠한 차이를 보이는지 금융상품의 기준, 연결회계처리, 기타회계처리의 관점에서 알아 보았다. 그리고 각 부분의 차이가 기존 회계정보시스템에 어떠한 영향을 주는지 고찰하였다. 새로운 국제회계기준에 도입되면 우선 새로운 기능을 추가하거나 기존 시스템을 수정하는 작업이 이루어져야 한다. 이러한 과정에서 각자 기업의 처한 환경에 따라 자체개발 할지 혹은 패키지를 도입할 지를 신중히 검토하여 변화에 따른 부작용을 최소화 할 수 있도록 노력해야 할 것이다.

• The Journal of Asian Finance, Economics and Business
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• 제7권3호
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• pp.265-276
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• 2020

The study aims to explore the problems of the existing Shariah Governance Framework (SGF) and its concerned authorities in the context of Bangladesh. Thus, according to responses from 17 respondents, this study outlines that Bangladesh has an absence of a shortage of experts, experienced, knowledgeable, and qualified Shariah people at all levels (i.e., the central bank, Islamic banks, Shariah Supervisory Boards (SSBs), and regulators). Therefore, Bangladesh does not have a separate Islamic banking act, Shariah audit firm, Shariah index institutions, and comprehensive SGF. The existing guideline has a limitation concerning its comprehensiveness, accountability, responsibility, and structure of SSBs. Islamic banks do not follow the instruction of the central bank in the formation of SSBs. As a result, there is an absence of competent and qualified SSB, which also results in the functions of Shariah departments as well as Shariah applications. Usually, the Board of Directors (BOD), management, executives, customers, and the public also have the conceptual gap about Islamic banks, SGF, and banking system compared to the regular prayers, faith, and belief. Concisely, Bangladesh requisites a comprehensive SGF, Islamic banking act, a standard accounting system, and a robust Shariah audit system for the overall development of Islamic banks and SGF.

• 제어로봇시스템학회:학술대회논문집
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• 제어로봇시스템학회 2003년도 ICCAS
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• pp.1470-1473
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• 2003

In this paper the networked control systems (NCS) problem is discussed where plants and controllers are distributed and interconnected by a common network. NCS is designed with LQ regulator and applied to an inverted pendulum accounting for the multiple time delays. We are to deals with a networked control system with a single controller, multiple sensors and multiple actuators. Since these parts are distributed, they are interconnected by communication networks. An NCS with LQ regulator is designed and applied to an inverted pendulum as a benchmark plant to check its performance under time delays induced by the network. Network induced delays are composed of two parts. One is the delay from controller to plant, and another is from plant to controller. They are assumed to be constant in this paper, and the plant and controller are discretized. To apply the LQ regulator the NCS model is transformed to a standard model with delayed states as state variable. And real network induced delay is measuring in TCP/IP network assuming that two delays are constant.

• 한국정보통신학회논문지
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• 제14권4호
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• pp.795-802
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• 2010

오늘날 기업 경영 환경은 글로벌 환경과 정보기술의 발전 등으로 갈수록 빠른 속도로 복잡하게 변하고 있으며, 수많은 기업들은 급변하는 경영환경에 대응한 경쟁력 확보를 위하여 끊임없는 노력과 변화, 혁신을 추구하고 있다. 이러한 부문별 자동화와 함께 기업 경영의 전체적 최적화를 이루려는 취지에서 등장한 것이 전사적 자원관리(ERP: Enterprise Resource Planning)이다. 특히, ERP 시스템에서 관리회계는 보다 효율적인 내부관리를 위한 부가적인 기능들로 구성되어 있어 많은 시스템을 적극적으로 활용하고 있다. 본 연구에서는 Oracle ERP관리회계 분야의 표준원가를 살펴보고 표준원가에서 발생하는 실제원가와의 변량차이 분석을 시도하였다. 이를 통하여 실제 발생된 재료비와 간접재료비에 가까운 원가요소를 얻는 방법을 구현하여 Oracle ERP 시스템의 원가운영에 적용하였다.

• The Journal of Asian Finance, Economics and Business
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• 제6권2호
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• pp.247-255
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• 2019

This study examines the different roles of cash flow in assessing investment returns in the Association of Southeast Asian Nations (ASEAN). The analysis covers over 900 listed firms across Malaysia, Indonesia, Philippines, Singapore and Thailand for the period post the Asian financial crisis of 2001-2017. Firm-level panel data analysis shows that cash flow factors are important in all contexts of cash return on assets, earnings quality and market value multiple across the region even after controlling for typical measures of profitability. The results suggest that firms should manage cash flow prudently in considerations of firm value from the shareholder's perspective, measured directly using stock return. Cash profitability on assets should become an important firm performance indicator, whilst higher cash component over reported earnings is preferred. The market also tends to respond favourably to cash flow yield as a price multiple in valuation, outpacing the role of earnings yield. Such findings are robust across the pre and post subprime crisis periods, across estimation methods pertaining to finance panel standard errors, as well as across static and dynamic considerations of returns. It is hence sensible to consider cash flow factors in the research pertaining to asset pricing and factor investing in the ASEAN region.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.363-373
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• 2021

The present study seeks to investigate the degree of awareness that constitutes the audit gap expectations (AEG) to determine which audit responsibilities can be narrowed or even eliminated. The author had surveyed a sample comprising four groups including auditors, auditees, the financial community, and other interest groups. In this survey, 1400 questionnaires were sent to the respondents, and the total number of responses was 454. The collected data was processed using statistical software SPSS, version 22. The Chi-Square test was used to analyze the effect of professional differences on AEG. The results of this study indicate that AEG cannot be eliminated due to the occupational impact of each survey group (about 46%), but it can be narrowed down to 54%, including a reduction of 11% in the knowledge gap (lack of public knowledge), 13% in the reasonable expectations gap (unqualified audit quality), 30% in the deficient standards gap (limited auditing standards). These results could be attained by improving training, communicating, and adding more responsibilities. This is the first study that provides another method of measuring the contribution of the knowledge gap through professional differences and professional gaps that make up each of the AEG's components.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.57-64
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• 2021

This research attempts to formulate a new mean-risk model to replace the Markowitz mean-variance model by altering the risk measurement using ARCH variance instead of the original variance. In building the portfolio, samples used are closing prices of Indonesia Composite Stock Index and Indonesia Composite Bonds Index from 2013 to 2018. This study is a qualitative study using secondary data from the Indonesia Stock Exchange and Indonesia Bonds Pricing Agency. This research found that Markowitz's model is still superior when utilized in daily data, while the mean-ARCH model is appropriate with wider gap data like monthly observation. The Historical return has also proven to be more appropriate as a benchmark in selecting an optimal portfolio rather than a risk-free rate in an inefficient market. Therefore Mean-ARCH is more appropriate when utilized under data that have a wider gap between the period. The research findings show that the portfolio combination produced is inefficient due to the market inefficiency indicated by the meager return of the stock, while bears notable standard deviation. Therefore, the researcher of this study proposed to replace the risk-free rate as a benchmark with the historical return. The Historical return proved to be more realistic than the risk-free rate in inefficient market conditions.

• The Journal of Asian Finance, Economics and Business
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• 제9권8호
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• pp.71-80
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• 2022

This study aims to investigate the effects of fair value valuation of biological assets and bearer plants measured at historical cost on the cost of third-party capital. The study contributes to the agricultural sector and the International Accounting Standard - IAS 41, which has been modified to remove the requirement to apply fair value for bearer plants, one of the primary biological assets with no active market. For this, 182 companies from 39 countries were studied in the years 2020 and 2021, with information taken from the Thomson Reuters Eikon platform. The methodology involves regression by the ordinary least squares method based on the model of Daly and Skaife (2016). The results show that the biological asset at fair value does not influence the cost of debt and that the measurement of bearer plants at historical cost has no effect on the cost of debt. Fair value did not change the perceived cost of debt of the analyzed companies in the studied period, contrary to Daly and Skaife (2016). Finally, the cost of third-party capital can be influenced by other aspects related to profit quality, which were not examined in this paper, such as profit management.

• The Journal of Asian Finance, Economics and Business
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• 제9권4호
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• pp.39-52
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• 2022

This study examines whether accounting conservatism can support real earnings management by reducing accrual earnings management techniques. The net impact of conservative reporting on earnings management is also analyzed. It is assumed that moderating the role of conservative financial reporting during uncertainty can mitigate earnings management practices. For our analysis, 5354 firm-year observations for the period 2007-2020 of nonfinancial companies listed on the Pakistan Stock Exchange are applied. To measure conservatism in the non-financial sector of Pakistan, Khan and Watts' (2009) model is used to provide evidence that conservatism is a way to restrict earnings management during uncertainty. "Prospector" and "Defender" Business strategy is applied for measuring firm-level uncertainty. To measure accrual earnings management Modified Jones (1995) model and Dechow and Dichev (2002) approach and Kasznik (1999) model are applied, and for real earnings management Roychowdhury model is applied which follows three approaches to measure real earnings management i.e. cash flow manipulation, Overproduction, and discretionary expenses. The estimations support our hypothesis by providing statistically significant proof that conservative financial reporting in a developing economy like Pakistan may be used to overcome the net impact of earnings management during uncertainty. Our results provide critical and practical implications for investors, researchers, and standard setters.

• Wind and Structures
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• 제26권4호
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• pp.231-251
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• 2018

The objective of the investigation is the analysis of wind-tunnel experimental errors, associated with the measurement of aeroelastic coefficients of bridge decks (Scanlan flutter derivatives). A two-degree-of-freedom experimental apparatus is used for the measurement of flutter derivatives. A section model of a closed-box bridge deck is considered in this investigation. Identification is based on free-vibration aeroelastic tests and the Iterative Least Squares method. Experimental error investigation is carried out by repeating the measurements and acquisitions thirty times for each wind tunnel speed and configuration of the model. This operational procedure is proposed for analyzing the experimental variability of flutter derivatives. Several statistical quantities are examined; these quantities include the standard deviation and the empirical probability density function of the flutter derivatives at each wind speed. Moreover, the critical flutter speed of the setup is evaluated according to standard flutter theory by accounting for experimental variability. Since the probability distribution of flutter derivatives and critical flutter speed does not seem to obey a standard theoretical model, polynomial chaos expansion is proposed and used to represent the experimental variability.