쌍용자동차의 손상차손 회계처리가 불러온 여파

This case study investigates the process of accounting for impairment losses on tangible assets of Ssangyong motor company which faced a business crisis, and introduces what happened before and after the recognition of impairment losses in Ssangyong Motors. According to K-GAAP or K-IFRS, if there is any indication of impairment of an asset, one must estimate the recoverable amount (the greater of the fair value less costs to sell and the value in use) from the use and disposal of the asset. Then, if the estimated recoverable amount is less than book value, the book value must be adjusted to the recoverable amount and the difference is recognized as an impairment loss. However, in this process, many assumptions are required to estimate the recoverable value. It is because one should predict future cash flows generated from the use of the asset to estimate the value in use. Since there are many uncertainties in predicting future revenues and costs in the situation of business crisis, it is important to use reasonable assumptions for the estimation and to see if there is a sufficient basis for them. By examining the accounting process of impairment losses during a business crisis, this study is expected to provide practical implications to accountants, auditors and financial supervisory institutions. In addition, through the case of Ssangyong motor company, students can see how accounting numbers play an important role in the process of making rational judgments amid sharp conflicts among various stakeholders.