IFRS 도입이 회계이익과 과세소득의 차이에 미치는 영향

In Korea, IFRS(International Financial Reporting Standards) has applied to all listed firms from fiscal year 2011 to enhance international conformity and transparency of accounting information. The critical difference between K－GAAP and IFRS is that IFRS emphasizes fair value accounting and principle－based accounting which grant more discretionary power to firm managers than K－GAAP. Therefore, the adoption of IFRS in Korea could result in considerable effects on accounting income(Book income) and tax income. Most of prior studies have found that the adoption of IFRS could improve quality of accounting information. However, some prior studies have presented that quality of accounting information had not substantially improved after IFRS adoption. In short, the results of prior studies on relationships between IFRS adoption and the quality of accounting information are coexistent. Thus, this study investigates the effect of IFRS adoption of Korea on the quality of accounting information by analyzing empirically whether there have been substantial changes of Book Income－Tax Income Difference(BTD) after IFRS adoption. This study uses BTD as a proxy of accounting information quality following prior studies and performs empirical analysis with research samples of KOSPI and KOSDAQ listed firms during the years of 2009 through 2011. The results of this study are as follows: (1) Analyzing on pooled－sample, total BTD and permanent BTD significantly reduced and temporary BTD marginally reduced after IFRS adoption. (2) Analyzing on separated－sample(KOSPI and KOSDAQ respectively), none of total BTD, permanent BTD, and temporary BTD significantly changed after IFRS adoption in KOSPI listed firms. On the contrary, in KOSDAQ listed firms, all BTD measurements significantly reduced after IFRS adoption. These results imply that IFRS adoption has brought about positive effects on improving the quality of accounting information in KOSDAQ market of which accounting information quality has been believed to be lower than KOSPI market. Also, the significantly negative associations between IFRS adoption and permanent BTD imply that the confirmity between financial accounting and tax accounting has enhanced after IFRS adoption. The results of this study can provide more insights into the accounting information quality and the effect of IFRS adoption in terms of BTD.