부산대학교 도서관

K-IFRS 하에서는 포괄손익계산서는 당기순손익과 기타포괄손익을 하나의 손익계산 서로 보고하는 단일보고방식과 따로 나누어 보고하는 분리보고방식 중 하나를 선택하여 작성할 수 있다. 그러나 최근에 IASB는 당기순손익과 기타포괄손익을 구분하는 명백한 원칙이 없고 이를 구분할만한 특성이 없으므로 단일보고방식만을 사용할 것을 제안하였다. 그러나 기업들은 당기순손익과 기타포괄손익의 성격이 근본적으로 같지 않고, 단일보고방식의 포괄손익계산서에서 당기순손익이 부적절하게 덜 강조될 수 있다고 주장하면서 단일보고방식만을 사용하는 것에 대해 반대하였다. 이에 따라 IASB는 두 가지 방식 모두 사용할수 있도록 허용하였으나, 이와 관련된 논의는 아직까지도 진행 중에 있다. 위와 같은 관점에서 본 연구는 두 가지의 목적을 가지고 수행되었다. 첫째는 경영자가 포괄손익계산서의 보고양식을 선택할 때 기타포괄손익을 고려하는 지를 검증하는 것이며, 둘째는 손익계산서 보고양식에 따라 동일한 이익을 시장에서 다르게 인식하는지 검증하는 것이다. 본 연구의 결과는 다음과 같다. 첫째, 우리나라 유가증권 상장 기업 중 약 81%의 기업이 단일보고방식을, 19%기업이 분리보고방식을 사용하고 있으며, 기타포괄손익이 크면 분리보고방식보다는 단일보고방식을 선호하는 것으로 나타났다. 둘째, 단일보고방식의 포괄손익이 분리보고방식의 포괄손익보다 정보유용성이 큰 것으로 나타났다. 셋째, 기타포괄손익이 아주 큰 음(-)의 값을 가질 때 분리보고방식의 당기순이익이 상대적으로 정보유용성이 큰것으로 나타났다. 이러한 본 연구의 결과는 음(-)의 값으로 아주 큰 기타포괄손익이 경영자의 손익계산서 보고방식과 투자자의 정보유용성에 영향을 미친다는 것을 의미한다. 본 연구는 분리보고양식의 포괄손익계산서를 사용하는 경영자들의 동기가 기타포괄손익의 크기에 따라 달라지는지 살펴보았으며, 이러한 연구결과는 IASB와 실무에서 아직까지 논쟁이 되고 있는 포괄손익계산서의 보고양식의 선택에 대한 해결방안을 제시할 수 있는 근거를 제시할 기대한다.
Managers could choose income statement types: single statement type or consecutive two statements type under K-IFRS(International Financial Accounting Standards adopted by Korea). The IASB(International Accounting Standards Board) has allowed both types, but proposed recently the elimination of the option reporting OCI(other comprehensive income) in consecutive two statements because they think there are no clear principles nor special characteristics distinguishing OCI from net income components. However, Respondents to the proposal expressed a concern that a single statement would cause confusion among investors by inappropriately deemphasizing net income. They also argued that there would be fundamental differences between net income components and OCI, and that the proximity of these items in a same statement would blur these differences. Therefore, The IASB decided to keep allowing the option of consecutive two separate statements approach. However, IASB is still working on this issue under the Disclosure Initiative project. In general, managers would like to report higher net income and avoid to report losses. (Carslaw 1988; Thomas 1988; Hayn 1995; Burgstahler and Dichev 1997; Beatty and Petroni 2002; Song et al. 2004). Managers`` choice on a specific type of income statement can be explained by this behavior. In other words, managers’ choice depends on how users recognize profits, which could represent company``s performance. In Korea, we could not overlook the fact that Korean information users tend to fix their performance evaluation on income figures reported on an income statement because the accounting history of K-IFRS is relatively short. Therefore, traditional functional fixation hypothesis seems to be working relatively well. Users may be able to recognize a comprehensive income on a single statement, which is similar to the income statement format prior to newly adopted K-IFRS in Korea, as a company``s real profit because investor is likely to react mechanically(Hand 1990; Abdel-khalik and Keller 1979; Bloomfield and Libby 1995; Sloan 1996) under the traditional functional fixation hypothesis. Thus, manager may choose a income statement type wherein comprehensive income causes higher earnings or less losses on the report. On a single income statement, comprehensive income is reported as final earnings at the bottom and net income is shown up in the middle because the statement reports: (i) net income; (ii) other comprehensive income; (iii) comprehensive income, in a sequence. Thus, managers’ choice on report types is likely affected by the amount of other comprehensive income because comprehensive income is the sum of income and other comprehensive income. That is, the larger OCI, the larger the CI; but the larger the OCI losses(-), the lower the CI. Therefore, managers are likely to prefer a single comprehensive income statement when OCI is larger since it will report higher CI. The purpose of this study is as follows; First is to test whether managers may consider OCI when they choose income statement type; Second is to test whether stock market may respond differently even for same earnings reported on different type of income statements. Results of this study indicate that managers prefer single statement when OCI is larger. Also, usefulness of CI in a single statement is larger than the CI in consecutive two statements, and usefulness of net income is affected by OCI figures. That is, the usefulness of net income reported in a consecutive two statements is larger than that reported in a single statement when OCI is negative. The results also indicate that 81% of listed companies in KSE(Korean Stock Exchange) use a single statement and the others(19%) use a consecutive two-statement approach. Especially, managers prefer the consecutive two-statement approach when other comprehensive income is extremely negative(-). The results suggest that managers might choose income statement type, considering investors reactions. Unlike previous studies, this study examined not only managers`` behavior, but also investor`s reactions. That will be a possible contribution of our study. The outcomes of this study is expected to provide some tips to the ever continuing discussions on income statement types to be used in the future.