동일지배하의 사업결합 회계처리 사례 및 가치관련성 연구

[Purpose]This study examines accounting cases for transactions under common control (hereafter,‘UCC’ transaction) and verifies the value relevance of the acquisition method, book value method, and the IASB Board’s preliminary views presented in the IASB Discussion Paper(2020), thereby enhancing the understanding of accounting information users. [Methodology]This study examines cases of accounting for UCC transaction and analyzes the effect of each accounting method on financial statements. In addition, This study examines the value relevance on each accounting method(acquisition method, book value method, and mixed method) for UCC transaction acquisition using the Lee et al.(2015) model. [Findings]First, from 2021 to 2023, 244 UCC transactions occurred, and 91.4% of companies applied the book value method and 8.6% of companies applied the acquisition method. In particular, 57% of business combinations between subsidiaries applied the acquisition method and 43% applied the book value method. Second, if CJ Logistics, which applied the acquisition method, applies the book value method, it is estimated that net assets will decrease by KRW 5.3 billion and pre－tax profit will decrease by KRW 42 billion. This shows that the accounting method for UCC transaction has an important effect on financial statements. Third, this study examined the theoretical basis of new view presented as a preliminary opinion in the IASB Discussion Paper(2020) and performed a value relevance analysis to examine the purposefulness of the accounting method. As a result, companies that accounted for UCC transactions using the acquisition method showed higher value relevance of net assets than companies that accounted for them using the book value method. In addition, in the case of the IASB Board’s preliminary view, companies that accounted for UCC transactions that affected non－controlling shareholders using the acquisition method showed higher value relevance of net assets than companies that accounted for them using the book value method, which supported the preliminary opinion of the IASB. [Implications]First, the accounting cases of UCC transaction presented in this study are expected to not only improve the understanding of accounting information users but also be used as educational materials in schools. Second, this study is different in that it is the first to examine the value relevance of the acquisition method, book value method, and IASB Board’s preliminary view, and it is expected to be used as empirical evidence when establishing accounting standards in the future. Lastly, in a situation where the IASB has suspended the establishment of accounting standards for UCC transaction, there is an implication in that it raises the need for disclosure guidelines to improve the minimum comparability and the understanding of accounting information users.