국제회계기준의 도입이 재무보고 품질에 미치는 영향: 중소기업을 중심으로

[Purpose] This study examines the changes in accounting quality resulting from the introduction of IFRS, a principle－based accounting standard. Additionally, it analyzes these changes by comparing SMEs, which often lack professional manpower and infrastructure, with larger enterprises. [Methodology] Existing studies have primarily assessed accounting quality based on comparability, value relevance, and earnings management. However, this study evaluates accounting quality by examining whether the relationship between accrual accounting estimates and future cash flows has improved since the introduction of IFRS. [Findings] The analysis reveals that the relationship between accounting estimates and future cash flows is further strengthened after the introduction of IFRS. However, the introduction of IFRS enhances the relevance of accounting estimates to future cash flows for non－SMEs, while it has no effect on SMEs. [Implications] The introduction of IFRS, a principle－based accounting standard, improves accounting quality for non－SMEs with sufficient accounting infrastructure. However, it can be burdensome and ineffective in enhancing accounting quality for SMEs lacking adequate infrastructure. Therefore, when implementing institutional changes like IFRS, it is essential to consider whether an entity has the necessary infrastructure, capabilities, and size. This suggests the need for differentiated policies tailored to the capabilities and sizes of various entities.