• Title, Summary, Keyword: Accounting Transparency

Search Result 50, Processing Time 0.047 seconds

The system about accounting transparency and the introduction of the accounting standards for unlisted small and medium sized companies (회계투명성관련 제도와 중소기업회계기준의 도입)

  • Park, Sang-Seob
    • Management & Information Systems Review
    • /
    • v.31 no.4
    • /
    • pp.1-32
    • /
    • 2012
  • The purpose of this study is to research systems about accounting transparency and to present how to introduce the standards in accounting unlisted small and medium sized companies. In Korea, the measures of enhancing accounting transparency of enterprises was mainly focused on the listed enterprises. On the contrary, the measures on enhancing accounting transparency of the SMEs was relatively insufficient This study researches systems regarding accounting transparency in Korea and reviewes the previous studies about the accounting transparency in small and medium-sized companies. This study also research other countries' accounting standards specialized only in the unlisted small and medium sized companies in order to establish accounting standards in the unlisted small and medium sized companiesin Korean For the new accounting standards for SMEs, this study suggests both strenghtening part and alleviating one, comparing to the current enterprise accounting standards. Each has three points to discuss. For the alleviating part, those standards should be simple, understandable and fit to the incumbent tax law. For the enforcement part, those standards should stand with the accounting reality of the small and midium sized companies, and it should also contains detailed expressions of the accounting transparency and managerial accounting.

  • PDF

A Study on the Accounting Transparency Financial Characteristics between ERP Systems Implementation and Non Implementation Companies (ERP시스템 도입기업과 미도입기업의 회계투명성 관련 재무적 특성)

  • Choi, Hyun-Dol;Lee, Jang-Hyung
    • The Journal of Information Systems
    • /
    • v.14 no.1
    • /
    • pp.107-124
    • /
    • 2005
  • ERP systems are comprehensive sorfware packages that seek to integrate the complete range of lbusiness processes and functions in order to present a heuristic perspectives of a firm from a single information and information technlogy architecture. The ERP systems have delicate internal controls with built-in devices. It is known that the delicate internal controls help to enhance the accounting transparency. We empirically investigate the relationship between the ERP systems inplementations and an accounting transparency. In order to measure the accounting transparency differences, we compare the ERP systems implementation firms with firms which did not implement the ERP systems by 6 financial ratios (accruals, net profit margin, operation cash folo to sales, total debt to equity, accounts receivable changes, assets quality). Data are collecte from 135 firms implemented the ERP systems and 135 firms non-implemented the systems (the firms listed in the Korea Stock Exchange). We analyze financial statements from 270 firms for the period 2001-2003 to ezamine the 6 financial ratios differences. The results of 810 firms analyses over the 3-year period indicate that the ERP systems implementation firms show the statistically significant differences in the accrual ratio, the net profit margin ratio, operating cash flow to sales ratio, and total debt to equity ratio from the ERP systems non-implementation firms. But there is statistically no differences between the two groups for accounts receivable changes to sales ratio and assets quality.

  • PDF

A Study on Improving Transparency in Accounting for Sustainable Growth of Korean Companies (한국기업의 지속성장을 위한 회계투명성 개선 방안에 관한 연구)

  • Lee, Gyeong-Rak
    • Journal of Digital Convergence
    • /
    • v.11 no.12
    • /
    • pp.257-264
    • /
    • 2013
  • The purpose of this study is to propose plans of accounting transparency enhancement for Korean firms' sustainable growth and moral management. Moral management is not optional but essential strategy under global competitive circumstances. It has been proved that sustainable growth was possible through moral management. The plans of accounting transparency enhancement obtained from this study are as below. The implementation of early childhood education on the role and function of accounting, including contents related accounting ethics in university business curriculum or accounting curriculum, including contents related accounting(management) ethics in various accounting qualification examination, building and utilization of systematic knowledge base on accounting fraud, strengthen supervision for implementation of stable and reliable K-IFRS, improving public ethics through strengthening ethical awareness, devotion of community leaders for the nation and society etc.

A Suggestion of Accounting Practical Education System for Enhancement of National Credibility -Focusing on the Establishment of Accounting Practice Education Institute- (국가 신인도 제고를 위한 회계실무교육제도에 관한 제언 - 회계실무 전문교육기관 설립을 중심으로 -)

  • Lee, Kye-Won;Han, Kyoung-Hee
    • Journal of Digital Convergence
    • /
    • v.17 no.9
    • /
    • pp.507-516
    • /
    • 2019
  • The purpose of this study is to propose a policy for accounting practice education system to improve the national credibility. The biggest reason why the national credibility is the lowest is that the auditor's free appointment system is the next, and the education on accounting is not done properly. This study is a bibliographical study that examines the previous studies on the improvement of accounting audit and accounting education in Korea, various public hearings, press releases, and government policy data, and summarizes. The way to increase accounting transparency is to improve the audit system and to guarantee accounting practice education. Since the subjects of practical education belong to all areas such as private and government, it is intended to propose the establishment of accounting professional education institution, called (tentatively) 'Accounting Training Institute'. Through this, it is expected that the practical and professional training will improve accounting transparency and contribute to the improvement of national credibility.

The Effect of Audit Fee Dumping on the Audit Quality (저가수임으로 인한 감사품질 감소에 미치는 영향)

  • Shin, Chan-Hyu;Kim, Jeong-Kyo
    • Journal of Digital Convergence
    • /
    • v.15 no.11
    • /
    • pp.167-174
    • /
    • 2017
  • These days, people distrust the accounting transparency of firms in Korea. It can .increase the capital costs and reduce profitability of firms. Auditors say that one of causes on the low grades of the accounting transparency is free contracts between auditors and firms. Firms want auditors take low audit fees. In principle, if auditors take low audit fees, they cannot input auditor resources to proper audit. However, there are not any empirical evidence about the relation between the audit fees dumping and the audit quality. This study defines dumping auditors if their audit fees are lower than the average of industries, and examines whether these auditors showed low audit qualities or not. As a result, firms which are audited by dumping auditors presented low abnormal accruals. We can interpret this result as that dumping auditors have low audit qualities. This result helps to make policies to improve the accounting transparency of firms.

Nonprofit Accounting Information System and Charitable Donations: Evidence from Korea

  • Woo, Mi-Hyang;Roh, Hee-Chun;Park, Jin-Ha
    • Journal of the Korean Data Analysis Society
    • /
    • v.20 no.6
    • /
    • pp.2793-2804
    • /
    • 2018
  • The purpose of this study is to examine the perception of donors on the necessity of making improvements in accounting information system. Along with the increasing size and number of activities of nonprofit organizations, many people are more and more interested in their organizational efficiency and transparency. Accordingly, researchers and policy makers have focused on how to improve accounting information system and how to monitor nonprofits to efficiently obtain and use resources. We thus aim to provide some useful insights by analyzing the opinions of donors regarding the display of nonprofit statements, accounting system, and the intention of donation. Using survey data obtained from 263 respondents, we find that displaying functional expenses is considered to enhance the usefulness of financial reports. We also find that the filing and disclosure of financial reports is considered to be necessary. Respondents also require external audits, but not to the same extent as disclosure. Finally, respondents have a positive attitude toward making future donations.

A Schemes of Improving about Accrual Basis Accounts and Bookkeeping by Double Entry for Financial Transparency of Local Governments (지방자치단체 재정관리 투명성 확보를 위한 발생주의·복식부기회계 개선방안 탐구)

  • Choi, Rackin
    • Journal of the Korea Society of Computer and Information
    • /
    • v.18 no.1
    • /
    • pp.157-166
    • /
    • 2013
  • This study searches a transparency of financial management of Local government and then, tries to find a solutions to a management scheme to strengthen financial reform effectively. To summarize main contents: First, requirement of continued Public Accounting System. Second, contact of items of an account and items of a program budget, Third, requirement of construction cost accounting to estimate total cost inputting to public program objectively. Forth, improvement of rotation assign system and guaranteeing to professionalism and public official ethics. Fifth, requirement of strengthening inter-control and monitoring system. Sixth, auditing and role of accounting specialist group. Finally, construction of effective and practical computer system and continuing practice of R&D program.

The Relationship between Donor Behavior and Financial Statements in Japan

  • Mizutani, Fuminobu
    • The Journal of Asian Finance, Economics, and Business
    • /
    • v.3 no.4
    • /
    • pp.39-42
    • /
    • 2016
  • NFPs support a sustainable society and they rely on contributions from donors. Donor behavior is a kind of consumer behavior that influences fundraising by NFPs. In order to make fundraising functional under a principal-agent relationship, NFPs must construct trust through proper provision of accounting information. For donors, financial statements are main source of accounting information. Edelman revealed that the level of trust in Japan's NFPs is the lowest in East Asia, because of a lack of transparency and accountability. Some researchers had investigated donor behavior as a kind of consumer behavior and had provided supportive results that accounting information influences donor behaviors, before this research was conducted. This research investigates this background by conducting questionnaire-based survey. Main questions of this questionnaire were created according to criteria that BBB are using for NFPs in the U.S. The results of this survey revealed the lack of reliability of basic accounting information in Japan and that education in higher educational institutions can improve this situation. This survey also revealed that a rating agency like BBB, which evaluates accounting information of NFPs, could improve trust on NFPs. The implications of this study can apply to the other countries and regions where trust in NFPs is insufficient.

A Study on the Operating Status of National University Financial and Accounting System (국립대학 재정.회계시스템 운영 실태에 관한 연구)

  • Lee, Gwang-Su;Ahn, Seong-Jin
    • Journal of Internet Computing and Services
    • /
    • v.12 no.1
    • /
    • pp.71-83
    • /
    • 2011
  • According to action of 'National University Finance And Accounting Act' enactment, national universities plan to introduce a new university accounting system reflecting the accrual basis and bookkeeping by double entry. For stable execution of the system, it is necessary to construct a national university financial and accounting system to be treated in a lump according to a new university accounting system. Therefore, the purpose of the study was to survey operating status of the existing national university financial and accounting system to prepare for that 'National University Financial And Accounting Act' would pass National Assembly, to draw its problems and to suggest a plan to construct national university financial and accounting system on the basis of the above. It is expected that the proposals suggested by the results of the study will give the Ministry of Education, Science and Technology and national universities a help in raising transparency of university finance and be utilized as basic data to construct national university financial and accounting system offering quick management information. to action 'National University Finance And Accounting Act' enactment, national universities plan to introduce a new university accounting system reflecting the accrual basis and accrual basis and bookkeeping by double entry.

A Study on the Separate Account related with the Valuation of Investment Securities and Profits Sharing in Korea Life Insurance Company (생명보험회사 투자유가증권평가 및 이익배분과 관련한 구분계리에 관한 연구)

  • O Dong-Il
    • Journal of the Korea Academia-Industrial cooperation Society
    • /
    • v.7 no.3
    • /
    • pp.483-493
    • /
    • 2006
  • The purpose of the study is to make a proposal of how to improve the separate account in Korean life insurance accounting and regulations. A separate account is required to improve the transparency of accounting and fairness of dividing the profit between company and lift insurance contractors. A separate account may be the first step to solve this conflict by clearing the profit sharing of shareholder's and contractor's of the insurance with dividend. The separate account should be designed to reflect the real economic consequences of insurance company and consider the real outcome of the performance-based insurance commodities. The separate account should contain the rules of IASs and KASs. If a separate account is successfully settled down, the portions of contractor's dividend and the dispute about initial public offering of insurance companies can be solved gradually.

  • PDF