법인세동반여부 발생액을 통한 이익유연화와 법인세유연화

The purpose of this study is to examine how accruals with current period tax implication that accompany tax expenses and accruals without current period tax implication that do not accompany tax expenses affect income and tax smoothing. In the case of income smoothing, according to the intention of the manager, the amount of accruals with current period tax implication that accompany tax expenses and accruals without current period tax implication that do not accompany tax expenses may be utilized. In tax smoothing, only the amount of accruals with current period tax implication that accompany tax expenses are expected to be used as a meaningful means. This is an extension of the preceding research that accruals can be used as a means of incom and tax smoothing. The components of accruals are decomposed from a tax perspective to be classified into accruals with and withnot current period tax implications. This is to verify whether these are used as means of income and tax smoothing respectively. First, we investigated the relationship between accruals and income smoothing. To examine the relationship, we used multiple regression method using the accruals with and without current period tax implication as a research variables and the measure of income smoothing obtained by dividing the 5years standard deviation of net income by the 5years standard deviation of operating cash flows as a dependent variable. In addition, we include various control variables identified in prior studies. Second, the same explanatory variable and the 5years standard deviation of the corporate tax payment divided by total assets were used as the dependent variable to analyze method of the tax smoothing. Contrary to the hypothesis, in the case of income smoothing, both can be selected according to the intention of the manager, but the result of this study used only the discretionary accruals with current period tax implications. It is interpreted that the intention of the manager was to reduce income and reduce tax costs. In the case of tax smoothing, the result was derived using only accruals without current period tax implications contrary to the hypothesis. Although the rationale for this interpretation is weak, it is argued that in the case of the group with increased income and the group with reduced taxable income, where the trade-off between financial reporting costs and tax costs is relatively large, the degree of use of accruals with current period tax implications is large (Seung-cheol Seo and,Soon-Seok Yoon 2011). These empirical results presented that accruals with current period tax implications that accompanies tax expenses can be used as a means of income smoothing.