Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT Industry
This study reviews new pension accounting with K-IFRS and provides empirical changes in liability for retirement allowances with adoption of K-IFRS. It will help to understand the effect of pension accounting on individual firm’s financial report and the importance of public announcement of actuaria...
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| Format: | Article |
| Language: | English |
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Wiley
2014-01-01
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| Series: | The Scientific World Journal |
| Online Access: | http://dx.doi.org/10.1155/2014/809219 |
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| _version_ | 1850171133064642560 |
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| author | JeongYeon Kim |
| author_facet | JeongYeon Kim |
| author_sort | JeongYeon Kim |
| collection | DOAJ |
| description | This study reviews new pension accounting with K-IFRS and provides empirical changes in liability for retirement allowances with adoption of K-IFRS. It will help to understand the effect of pension accounting on individual firm’s financial report and the importance of public announcement of actuarial assumptions. Firms that adopted K-IFRS had various changes in retirement liability compared to the previous financial report not based on K-IFRS. Their actuarial assumptions for pension accounting should be announced, but only few of them were published. Data analysis shows that the small differences of the actuarial assumption may result in a big change of retirement related liability. Firms within IT industry also have similar behaviors, which means that additional financial regulations for pension accounting are recommended. |
| format | Article |
| id | doaj-art-9d1b0ef5ca8547e2b697850ef63af84a |
| institution | OA Journals |
| issn | 2356-6140 1537-744X |
| language | English |
| publishDate | 2014-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | The Scientific World Journal |
| spelling | doaj-art-9d1b0ef5ca8547e2b697850ef63af84a2025-08-20T02:20:19ZengWileyThe Scientific World Journal2356-61401537-744X2014-01-01201410.1155/2014/809219809219Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT IndustryJeongYeon Kim0Sangmyung University, 20 Hongjimun 2-gil, Jongno-gu, Seoul 110-743, Republic of KoreaThis study reviews new pension accounting with K-IFRS and provides empirical changes in liability for retirement allowances with adoption of K-IFRS. It will help to understand the effect of pension accounting on individual firm’s financial report and the importance of public announcement of actuarial assumptions. Firms that adopted K-IFRS had various changes in retirement liability compared to the previous financial report not based on K-IFRS. Their actuarial assumptions for pension accounting should be announced, but only few of them were published. Data analysis shows that the small differences of the actuarial assumption may result in a big change of retirement related liability. Firms within IT industry also have similar behaviors, which means that additional financial regulations for pension accounting are recommended.http://dx.doi.org/10.1155/2014/809219 |
| spellingShingle | JeongYeon Kim Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT Industry The Scientific World Journal |
| title | Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT Industry |
| title_full | Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT Industry |
| title_fullStr | Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT Industry |
| title_full_unstemmed | Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT Industry |
| title_short | Empirical Analysis of Retirement Pension and IFRS Adoption Effects on Accounting Information: Glance at IT Industry |
| title_sort | empirical analysis of retirement pension and ifrs adoption effects on accounting information glance at it industry |
| url | http://dx.doi.org/10.1155/2014/809219 |
| work_keys_str_mv | AT jeongyeonkim empiricalanalysisofretirementpensionandifrsadoptioneffectsonaccountinginformationglanceatitindustry |