원칙중심 IFRS와 규정중심 일반기업회계기준 특성: 차입원가 기준서를 중심으로

[Purpose]The purpose of this study is to analyze the characteristics of principles－based International Financial Reporting Standards (IFRS) and rules－based Korean General Accounting Standards (KGAS) in borrowing cost standards. [Methodology]This study examines the characteristics of principles－based and rules－based standards in general. And through comparative analysis of borrowing cost standards, the characteristics of IFRS and KGAS are investigated in detail. [Findings]Principles－based IFRS systematically state the basic principles of accounting based on the conceptual framework. The core principles are clearly stated, and other sub－principles are related to these in a tree－like structure. IFRS rely on judgments. In contrast, rules－based KGAS include specific and detailed regulations, practical guidelines and application examples, and query reply. In addition, inclusion of clear criteria and exceptions or arbitrary restrictions make those be complicated. [Implications]This study can help to understand the characteristics of principles－based IFRS and to interpret and apply IFRS appropriately. In addition, it is expected to provide a basic study for discussion on whether to expand the function of query reply and issue of non－action opinions.