IFRS 도입이 감가상각방법 및 내용연수 선택에 미치는 영향: 이익의 질을 중심으로

The purpose of this study is to assess whether the changes in the depreciating accounting policy on property, plant, and equipment (PP&E) subsequent to the adoption of K-IFRS sufficiently reflect the economic substance. Using a sample of Korean firms listed in KOSPI from 2008 to 2013 which are non-financial firms whose notes in the audited financial statements in 2010 and 2011 contain depreciation-related information, the empirical results are as follows. First, the earning qualities of those firms which have changed the depreciation method and increased the useful life of the PP&Es subsequent to the adoption of K-IFRS decline after the K-IFRS adoption. This implies that the firms' changes in the accounting methods regarding depreciation have likely been used as a tool for their opportunistic earnings management. Second, the earnings qualities of those firms which received K-IFRS advisory service from the auditors tend to increase after the adoption of K-IFRS, compared to those which do not. This suggests that the auditors' expert advice and decisions have made positive contributions to the managers' decision-making for reflecting the economic substance of their assets while receiving the auditor's K-IFRS advisory service. Furthermore, the result seems to back up the assumption that the auditors are able to discourage the managers from making opportunistic changes in accounting methods subsequent to the adoption of K-IFRS by increasing their level of understanding. The main findings of this study will make it possible to understand the behaviors of those managers whose firms have implemented changes in their depreciation-related accounting methods subsequent to the adoption of K-IFRS, and thereby help the investment decisions of the external information users.