IFRS 도입 기업집단의 사업결합 분석사례연구: A그룹의 사례

This study analyzes several business combination plans of A business group, which has adopted the International Financial Reporting Standards (IFRS) since 2009 and is to dispose of its subordinate D company, centering around their financial performances and tax burdens, and therefore examines its management process for optimal decision making. Specifically, this study shows the perspective of “minimization of all costs”, one of the conditions for Scholes et al.(2002)’s effective tax planning, to emphasize the importance of tax issues which might be overlooked in case optimal business combination plan would be probed only with financial performances. Accounting and tax issues of business combination which should be examined under IFRS are K-IFRS No. 1103, consolidated financial statements, tax deferral for eligible merger and consolidated tax return. Specifically, in case of business combination among companies under same control like A business group, acquired assets and liabilities should be succeeded as book value, not fair market value, and, as a result, gain from bargain purchase should not be recognized in the acquisition. Moreover, as the merger hardly meets the conditions for recognizing deferred income, management decision on when to dispose of succeeded assets has a substantial effect on acquirer’s tax burdens.