비정상 매출액이 재무제표의 비교가능성에 미치는 영향에 관한 연구

[Purpose]This study examines the association between sales management and financial statements comparability. According to prior studies, sales are an important factor in determining a firm’s net income. In particular, K－IFRS 1115 (Revenue from contracts with customers) presents the principles of revenue recognition and measurement that can be commonly applied to all industries and all economic circumstances. Although the adoption of K－IFRS 1115 is expected to improve the financial statements comparability, it may increase the discretionary judgment of management. Financial statements comparability means the similarity of firms’ earnings generating process, but prior research focused on net income. This paper expects that the attributes of sales revenue can affect the financial statements comparability. [Methodology]Sales management is estimated using annual and quarterly model proposed by Stubben(2010). In addition, accounting comparability is measured using the research model of De Franco et al.(2011). [Findings]The main results show that there is a negative association between abnormal sales and the financial statements comparability. In addition, in the case of firms with net loss, this association is relatively strong compared to other firms. [Implications]Overall, above results show that discretionary sales decrease the financial statements comparability. Unlike the preceding study, which analyzed accounting comparability through earnings, this study suggests that sales management could worsen accounting comparability.