고객관계 무형자산의 가치평가: 프랜차이즈 기업의 사업결합원가배분 사례분석

This study reviews the cases of recognition and valuation of intangible assets in business combination. The problem has been raised that the accounting values reported in the financial statements in academia and practice. In recent years, the importance of intangible assets in firm value are increasing, so it is necessary to measure the value of intangible assets more precisely to improve the usefulness of financial statements. In particular, under the K-IFRS, the standard for evaluating fair values has expanded, and intangible assets of acquired firms in business combination must be newly recognized and recorded at fair value. This study specifically examines the process of identifying and valuating customer-related intangible assets of the franchise firm in business combination. The contributions of this paper are as followings. First, valuation of intangible assets is relatively difficult to evaluate compared to other assets, and franchise industry is also a sector in which valuation cases are relatively less, whereas few cases have dealt with valuation of intangible assets in that industry. Second, in the franchise industry the customer group exists in a special form. Unlike the case of general companies and industries that define the final consumer as a customer group, the franchise's customer group is defined as a franchisee. Third, we have described the method in detail how to distinguish the customer-related intangible assets in a business combination using actual business cases. It is expected that it will help not only practitioners who are responsible for preparing financial statements, but also stakeholders using financial statements to record financial statements, customer relationship intangible assets, and understand valuation methodology of intangible assets.