K-IFRS 도입이 영업권 손상차손 인식에 미치는 영향

This study investigates managers’ reporting discretion in determining goodwill impairment losses before and after the adoption of K-IFRS. K-IFRS are viewed as high quality financial reporting standards that better reflect the firm’s underlying economics, while the inherent flexibility in principles-based standards may result in the greater opportunistic financial reporting behavior by managers. This managerial reporting discretion under K-IFRS may also apply to the goodwill accounting, since K-IFRS requires impairment tests annually or more frequently to recognize impairment loss if events or changes in circumstances indicate that the recoverable cost of goodwill is lower than its carrying value, instead of annual amortization of goodwill. This study examines if there are changes in manager’ opportunistic earnings management, such as income smoothing and big-bath in the recognition of goodwill impairment between pre- and post-adoption of K-IFRS. It also analyzes whether or not the new accounting standards on the goodwill impairment better reflect the firm’s economic fundamentals. Under the new accounting standards, firms no longer amortize goodwill, but instead, assess recoverable costs to determine impairment losses, the difference between recoverable costs and carrying amount of goodwill. In addition to the possible discretionary accounting treatment, overall tendency of managers to avoid time consuming and expensive process of assessing recoverable costs of