• Journal of Navigation and Port Research
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• v.45 no.3
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• pp.173-180
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• 2021

Although accounting is one of the core fields of corporate management, few studies have reported accounting phenomena involving shipping companies. In addition, although financial reporting is very important to shipping companies that use several financial tools such as ship finance and financial lease, it is difficult to identify studies investigating shipping companies' financial reporting, especially their earnings management. The purpose of this study is to analyze accrual earnings management behavior of shipping companies. Companies with high debt ratios and net losses are known to have incentives for earnings management. Due to the nature of the industry, shipping companies have a high debt ratio and often report net losses. Accordingly, shipping companies are expected to engage in substantial earnings management. Based on the analysis of KOSP I companies listed on the Korea Exchange from 2001 to 2020, it was found that shipping companies are engaged in higher levels of earnings management than non-shipping companies. Discretionary accrual was used as a proxy variable for earnings management. Discretionary accrual was measured using the modified Jones model of Dechow et al. (1995) and the performance matched model of Kothari et al.(2005). In this study, significant results were derived by comparatively analyzing the earnings management practices, which is one of the major accounting behaviors of shipping and non-shipping companies. Stakeholders such as external auditors, investors, financial institutions, analysts, and government authorities need to be aware of the earnings management behavior of listed shipping companies during their external audit, financial analysis, and supervision. Finally, listed shipping companies must conduct stricter accounting based on accounting principles.

• 한국IT서비스학회:학술대회논문집
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• 2009.05a
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• pp.188-193
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• 2009

XBRL(eXtensible Business Reporting Language)은 컴퓨터가 데이터의 의미와 데이터간의 관계를 자동으로 인식해서 처리할 수 있도록 설계된 XML(eXtensible Markup Language)기반의 기업업무보고용 언어이다. 이는 각 데이터에 정황적 요소를 포함하는 태그(Tag)를 추가함으로써 정보수요자로 하여금 정확한 정보를 이용 생성할 수 있게 하고, 정보공급자와 수요자간의 효율적 정보이동을 가능하게 하는 국제표준이다. 하지만 한국의 경우 XBRL의 도입이 규제기관을 중심으로 이루어지고 있어서 XBRL관련 시장이 한정적으로만 확장되고 있는 실정이다. 또한 규제기관 마다 특화된 도입방법으로 인하여 재무데이터 등의 원활한 흐름에 방해가 되어서 XBRL정보 가공 서비스업체의 등장을 어렵게 하고 정보수요자들에게도 실질적인 도움을 주지 못하고 있다. 이 논문은 Innovation Adoption모형을 이용하여, 개별 기업이 XBRL을 도입하는데 유효한 영향을 주는 요인을 찾고 함의하는 바를 알아 보는데 목적이 있다. IFRS(International Financial Reporting Standards)의 도입으로 인해 그 필요성이 커질, XBRL의 본연의 목적을 달성하기 위해 도움이 되는 연구가 될 것이다.

• Journal of Distribution Science
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• v.13 no.9
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• pp.95-101
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• 2015

Purpose - This study provides evidence of the impact of the mandatory adoption of Korean equivalents to International Financial Reporting Standards (K-IFRS) on accounting quality. K-IFRS uses fair value as a basis of measurement and is characterized by principle-based standards. These characteristics can lead to a decrease in conservatism. Therefore, this study aims to examine whether or not there is a change in the level of conservatism before and after the enforcement of K-IFRS (2007~2014). By comparing 2007 through 2008 and 2013 through 2014 (excluding 2009 to 2012), we test "the temporary adjustment phenomenon" and document an overall decline in the degree of conservatism after the adoption of K-IFRS. Research design, data, and methodology - Our sample is comprised of data of all listed Korea Composite Stock Price Index (KOSPI) manufacturing distribution companies in Korea from 2007 to 2014, which yields the pooled sample of 4,412 (panel A) and 1,915 (panel B) firm-year observations for hypotheses 1 and 2. In line with recent literature, we adopt the Givoly and Hayn (2000) model, which recomputes the non-operating accruals, excluding two components that are most likely to capture the effect of restructuring activities: special items and gains or losses from discontinued operations. In addition, we also use these variables: SIZE, LEV, INV_CYCLE, ROA, OWN, and FOR. Results - Our sample period spans 2007 to 2014. This offers evidence on the effect of the mandatory adoption of IFRS on conservatism. Our findings can be summarized as follows. First, in panel A, for mandatory K-IFRS adoption (2011), we do not find any significant evidence of conservatism. We can guess that the "temporary adjustment phenomenon" is the reason that we do not find significant evidence of conservatism. Second, we investigate panel B from 2009 to 2012. We document an overall decline in the degree of conservatism after the adoption of K-IFRS. We can assume that these results are due to "the temporary adjustment phenomenon." Conclusions - This study finds that conservatism significantly decreased after IFRS adoption. In particular, this study makes the initial effort to elucidate "the temporary adjustment phenomenon" to analyze the effect of K-IFRS on conservative accounting. We argue that K-IFRS are conceptually conservative but that inappropriate application of the conservatism principles is likely to prevent financial reporting from reaching the level of conservatism targeted by the IASB. Overall, this paper contributes to the literature on IFRS and can be useful to capital market supervisors who are monitoring the trends of the firms implementing K-IFRS. Additionally, our results inform stakeholders of the potentially negative effect of the greater flexibility permitted by IFRS and/or lack of appropriate enforcement on key dimensions of accounting quality. This has important implications for Korean regulators and standard setters as they review the cost and benefits of IFRS. Our study also sheds light on the importance of the institutional environment in achieving the targeted objectives for improving financial reporting quality.

• The Journal of the Korea Contents Association
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• v.13 no.5
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• pp.387-395
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• 2013

Insurance accounting is the process of identifying, measuring, and communicating economic information to permit informed judgements and decisions by users of the insurance information. With the Korean-International Financial Reporting Standard(K-IFRS) on accounting for insurance contracts to be finalized by 2011 in Korea, the fair value accounting is expected to greatly affect the insurance industry in terms of insurance company' financial statements. This research analyzes the effect of financial statement as K-IFRS on the insurance accounting by comparing the financial statements of the listed company using past insurance accounting standard and the current K-IFRS standard. We analyzed the matched pair sample at loan amount, insurance contract debt, total assets amount, total debts amount, total capital amount in the financial statements of the listed 12 insurance company. We found that insurance contract debt, total assets amount, total debts amount, total capital amount are difference before and after K-IFRS applied insurance company.

• Korean Journal of Construction Engineering and Management
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• v.4 no.2 s.14
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• pp.66-73
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• 2003

Building construction projects are performed by a number of sub-contractors specialized in diverse trades. Therefore information management among these constituents is quite challenging especially due to exponentially increasing manpower and material resources. In recognition of the importance of information management in project sites a number of systems have been suggested, but the application is limited one of the main reason is that general contractors use these systems and sub-contractor's participation understanding and financial ability are limited. Besides other problems such as loss along communication channel, distortion of information due to inefficient input device and tremendous amount of time and labor are required for collection analysis, and management of information to prepare a daily-report. Therefore the Purpose of this study is to improve reporting process through analyzing current daily reporting system. This paper also suggests the direction of the improved daily reporting system to enhance the performance of construction projects through incorporating sub-contractor's participation in daily reporting system.

• Proceedings of the Technology Innovation Conference
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• 1997.07a
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• pp.247-265
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• 1997

The objectives of not-for-profit organizations including government supported research institutes are, by definition, to achieve socially desired nonfinancial goals. Current reporting focuses on providing information to meet the needs of users. This information may be provided in the annual research report, financial report, and other reports. An objective of current reporting is to provide users with information that will assist them in evaluating the performance(efficiency and effectiveness) of reporting entity. The evaluation of R&D project's performance requires information not only about the acquition and use of resources, but also about the outputs and outcomes of R&D activities, This study aims to recommend that R&D Service Efforts and Accomplish- mints(SEA) reporting is useful for performance evaluation in national R&D programmes. To achieve this aims, I attempt to develop the R&D SEA measures with reference to the Concepts Statement No. 2 of the Governmental Accounting Standards Board. R&D SEA measures consist of five categories : (1) input measures, (2) outcome measures, (3) output measures, (4) re1a1e efforts to accomplishments, (5) explanatory information.

• Land and Housing Review
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• v.11 no.4
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• pp.51-65
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• 2020

The purpose of this study was to identify the problems related to the amendment and preservation of the lien system and to suggest a feasible and efficient improvement plan. The Analytic Hierarchy Process (AHP) and descriptive statistical analyses were used in this study. The survey subjects were divided into three groups based on their expertise: "Administrative Experts, Practical Experts, and Financial Institution Experts" and compared to find the results. The results show that 1) the procedural aspect was the most important for the large classification, 2) the supplementary disclosure system was the most important for the legislative aspect, and 3) the supplementation of the abuse of the lien report was the most important for the intermediate classification. Furthermore, the study showed that the most important finding was the reinforcement of punishment for the right of false reporting and illegal acts, followed by the registration order system (the creditor alone application), and the registration system (bond, debtor, joint application). The implications and suggestions of this study are as followed. With regard to the current lien system, illegal acts such as false liens and the misuse of multiple reporting were considered as the biggest problems. In terms of the effective improvement plan of the lien system, the misuse of reporting liens and improvement in the procedural aspects of reporting rights should be given top priority. Therefore, the most important course of action is to strengthen the punishment for false liens, improve the disclosure system and make it mandatory to report rights.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.3 no.3
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• pp.75-78
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• 1980

1) The great expansion of industrial activity based on largely upon the products of scientific research, with widespread ownership and with greater demands on accounting for financial control and reporting. 2) The search for productivity, through the development of the mass production systems in industry, with their great emphasis on cost accounting and efficiency 3) The trend toward greater government influence In the affairs of business through taxation and regulation.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.14 no.6
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• pp.1359-1364
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• 2010

In International Financial Reporting Standards(IFRS), companies have difficulties in managing efficiently own accounting rules and demonstrating the adequacy of accounting processes with the conventional accounting system. BRMS(Business Rule Management System) provides methods for managing, processing, and monitoring these accounting rules according to accounting principles and situation. This paper proposed the BRMS-based financial programming framework for managing and processing the accounting principles and the own accounting rules.

• Journal of the Korean Data Analysis Society
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• v.20 no.6
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• pp.2793-2804
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• 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.