마일리지제도에 대한 국제회계기준 도입효과

We analyze how the International Financial Reporting Standards (hereafter IFRS) affect a local entity's financial position and its performance reporting in relation to its customer loyalty programmes (so called “mileage programmes”). Because the profit and loss resulting from a mileage program is a classic example of accruals without incurring a change in cash flow, the mileage programmes may become an attractive tool for managers for an earnings management. As mileage programmes are offered to increase customer loyalty as well as to promote the entity sales, volume and scope of this type of incentive system is growing very fast among and across the industries in Korea. The purpose of this study is to analyse the financial effects and the related accounting issues of mileage programmes upon adoption of IFRS in the Korean industry. Our study result shows that, as the local K-GAAP changes to IFRS, the mileage liability will be generally increasing while the reported gross sales decrease. Though the present size of mileage accounts may be relatively small as to the ratio of total asset, of liability and of gross sales, yet information users must pay careful attention not to overlook its potential impact on the operating profit as well as on the net income of an entity.