Introduction of K-IFRS and Changes of Financial Status of the Fastfood Companies

Koo, Wonil

KJC Korea
Journal Central

Journal of Tourism Sciences 2021 KCI Impact Factor : 2.61

Korean | English

pISSN : 1226-0533 / eISSN : 2713-6388

http://journal.kci.go.kr/JTS

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Introduction of K-IFRS and Changes of Financial Status of the Fastfood Companies

Journal of Tourism Sciences
Abbr : JTS
2011, 35(1), pp.327-347

Publisher : The Tourism Sciences Society Of Korea
Research Area : Tourism

Koo, Wonil ¹

¹삼성에버랜드(주)안양베네스트골프클럽

ABSTRACT
열림/닫힘 버튼

This study analyzed possible change of the financial status of a food service business corporation when it uses Korea-International Financial Reporting Standards(K-IFRS) for its financial statement. As a case study, based on the K-IFRS, this study modified the financial statement and statement of comprehensive income of two food service business corporations(i.e., Lotteria and SRS Korea). Results showed that asset and debt of the two companies were increased, while capital was decreased when the modified version of financial statement was used. Results also indicated that statement of comprehensive income was increased in Lotteria, while it was decreased in SRS Korea when the modified version was applied. These changes suggest that K-IFRAS might better reflect the actuality of a food service company. It also implies that food service industry might need to decide the accounting standards within the range of K-IFRS, which might maximize the firm's financial performance.
KEYWORDS
열림/닫힘 버튼

IFRS, Financial status, Fastfood, Food industry

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REFERENCES (31)
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* 2021년 이후 발행 논문의 참고문헌은 현재 구축 중입니다.

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