Journal of the Korea Academia-Industrial cooperation Society (한국산학기술학회논문지)

The Korea Academia-Industrial cooperation Society (한국산학기술학회)
권호 표지
DOI QR코드

DOI QR Code

A Study on the Harmonization between Financial and Tax Accounting in relation to Borrowing Costs

차입원가에 대한 기업회계와 세무회계의 조화

  • Yoo, Jae-Kwon (College of Business Administration, Sangmyung university)
  • Received : 2011.11.04
  • Accepted : 2012.01.05
  • Published : 2012.01.31
Download PDF
⟨ Previous Next ⟩

Abstract

This study suggests the direction to narrow down the difference between financial and tax accounting in relation to borrowing costs. Accounting for capitalization of borrowing costs under accounting standards for non-public entities should be revised to converge into KIFRS. The provision of corporate income tax law relating to capitalization of borrowing costs should be applied on the optional basis rather than compulsory application especially for non-public entities. The range of qualifying assets for capitalization under the tax law should be reviewed to comply with KIFRS.

본 논문에서는 차입원가의 회계처리에 대한 기업회계와 세무회계의 차이를 줄이는 방안을 제시하였다. 일반 기업회계기준의 차입원가자본화 회계처리는 KIFRS와 일치시키는 방향으로 개정할 필요가 있다. 적어도 비상장기업에 대해서는 법인세법에서 건설자금이자의 손금불산입 규정을 적용하지 않아도 되도록 허용하는 것이 바람직하다. 세무회계상 자본화대상자산의 범위를 기업회계와 일치시키는 방안을 검토할 필요가 있다.

Keywords

References

  1. Chung, K. Y., and S. P. Cho. "A Study on the Capitalization of Borrowing Costs", Korean Accounting Journal 7(1), pp. 29-60, June, 1998. (printed in Korean)
  2. Chung, Y. K., and Y. H. Park. "Capitalization of Borrowing Costs and International Convergence", Korean Accounting Journal 15, pp. 113-139, June, 2006. (printed in Korean) https://doi.org/10.1080/06939280600579412
  3. Moon, S. H., and K. T. Kim. "The Difference and Reconciliation between GAAP and Tax Law on Tangible Assets", Korean Accounting Journal 18(3), pp. 69-102, September, 2009. (printed in Korean)
  4. Shin, H. G. "The Effects of Interest Capitalization on the Financial Statements", Korean Accounting Journal 12(4), pp. 39-63, December, 2003. (printed in Korean)
  5. KASB, Accounting Standards for Non-Public Entities Chapter 18: Capitalization of Borrowing Costs, November, 2009.
  6. KASB, Korea International Financial Reporting Standards No. 1023: Borrowing Costs, November, 2008.
  7. KASB, Statement of Korea Accounting Standards No. 7: Borrowing Costs, November, 2008.
  8. IASB, International Accounting Standard 23: Borrowing Costs, March, 2007.