A Financial Change of Customer Loyalty Program Focusing on Before and After Applying K-IFRS

Koo, Wonil

doi:10.17086/JTS.2018.42.9.71.86

The purpose of this study is to identify the financial changes that may occur when the accounting process is changed for loyalty programs operated to enhance customer loyalty. As a result of the change in accounting treatment from GAAP to K-IFRS, K-IFRS requires the valuation to be carried at fair value, resulting in an increase in liabilities. By excepting the points that should be paid to customers, the operating income results also fell as the fair value was reflected. It is believed that the financial structure of the company would deteriorate due to changes in the accounting system. Based on these financial statements, a profitability and stability ratio analysis was conducted. As a result, all profit indicators decreased and debt increased. A change in the direction of accounting from GAAP to K-IFRS can only weaken a company's financial structure and reduce its profitability. Nonetheless, the introduction of K-IFRS would ensure transparency of the company to receive investment from abroad or to advance overseas as the reliability of financial statements increases. It is necessary to minimize the problems that may arise by carefully examining the accounting introduction cases of listed companies incorporating K-IFRS from the foodservice company standpoint.

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* 2021년 이후 발행 논문의 참고문헌은 현재 구축 중입니다.

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