IFRS

1. IFRS
International Financial Reporting Standards
?

International Accounting Standards Committee Foundation

International Accounting Standards Board ()
International Financial Reporting Interpretations
Committee ()
37 24 (2008 5 )

:

:

: .

1. IFRS
International Financial Reporting
Standards

EBITDA

()
EBITDA
GAAP

IFRS IFRS
K GAAP

(K GAAP
)

IFRS
3

2.

1001

, , .

:,,
,,
,
:

IFRS

VS.

IFRS
:,
,,,
:


: vs.

:
( )
IFRS :

IFRS CoA (Chart of Account)

1. IFRS
International Financial Reporting
Standards

IFRS
( )

() CoA

IFRS

IFRS

IFRS

IFRS

IFRS

IFRS , ,
5

2. IFRS

()

IFRS

KPI

Process
Innovation System

Sustainability

.
6

: ( )

IFRS

K-GAAP

()

90

120

(
)

- 50%

- 100
,

- 30%

- 100
,

 I
1.

2.

3.

.

.

,
.

4.

IFRS ,
.

5.

: < >, (4,800)

 II
1.

IFRS .

2.

IFRS

) /

)
FNGUIDE
, .

3.

) : // , IFRS
( . ).

.
( 100% )
9

10

Table of Contents
I. IFRS Roadmap
1.

IFRS

2.

IFRS Roadmap

II. IFRS IPO

1.

IFRS

2.

IPO

III. IFRS
1.

IFRS

2.

IFRS

3.

IFRS Survey

11

I. IFRS
1.

IFRS

12

1. IFRS
International Financial Reporting Standards
?

International Accounting Standards Committee Foundation

International Accounting Standards Board ()
International Financial Reporting Interpretations
Committee ()
37 24 (2008 5 )

:

:

: .

13

1. IFRS
Global Use of IFRS
IFRS , IFRS Global Accounting Standard .

:
2011 Convergence

EU :

2005

2007 IFRS

:
2011

:
2012

:
Convergence
2007 IASB IFRS
GAAP
2014 2016
(2009
)

:
Convergence
2009.2 IFRS
2015~2016 , 2012
(2010 )

:
2010

IFRS

2005

110 IFRS , 2011 150

14

2011

Page
14

Presentation
title
IFRS Training

1. IFRS
Future of IFRS

US GAAP Convergence Global Accounting Standard

2011 OECD 150 (90%)

- from prudence and reliability to relevance and decision usefulness

(IFRS for SMEs )

Industry Guidance Guide

15

II. IFRS
1.

IFRS

2.

IPO

16

1. IFRS
International Financial Reporting
Standards

EBITDA

()
EBITDA
GAAP

IFRS IFRS
K GAAP

(K GAAP
)

IFRS
17

2.

, , .

:,,
,,
,
:

IFRS

VS.

IFRS
:,
,,,
:


: vs.

:
( )
IFRS :

IFRS CoA (Chart of Account)

18

2.

XYZ 20X7 12 31
20X7 12 31

( : )
20X6 12 31

20X7 12 31

350,700
80,800
227,470
100,150
142,500
901,620

360,020
91,200
227,470
110,770
156,000
945,460

650,000

243,500

10,200

903,700
70,050

973,750

135,230
91,600
25,650
312,400
564,880
1,466,500

132,500
110,800
12,540
322,900
578,740
1,524,200

Sources: 1001

19

( : )
20X6 12 31

600,000
161,700
21,200
782,900
48,600
831,500

120,000
28,800
28,850
177,650

160,000
26,040
52,240
238,280

115,100
150,000
10,000
35,000
5,000
315,100
492,750
1,466,500

187,620
200,000
20,000
42,000
4,800
454,420
692,700
1,524,200

2.

Option 1:

[ ]

20X7
390,000

121,250

( : )
20X6
355,000

65,500

5,334

( 14,000)
107,250

10,667

28,000
93,500

( : )
20X7
20X6

Option 2:

[ ]

[ ]

390,000

121,250

355,000

65,500

121,250

65,500

5,334

( 14,000)
107,250

20

10,667

28,000
93,500

(1) + (2)

(1) :

(2) :

2.

Option 1

Option 2

(by function)

(by nature)

20X7
390,000
( 245,000)
145,000
20,667
( 9,000)
( 20,000)
( 2,100)
( 8,000)

20X6
355,000
( 230,000)
125,000
11,300
( 8,700)
( 21,000)
( 1,200)
( 7,500)

35,100

30,100

161,667

128,000

21

20X7
390,000
20,667
( 115,100)

20X6
355,000
11,300
( 107,900)

16,000

15,000

( 96,000)
( 45,000)
( 19,000)
( 4,000)
( 6,000)
( 15,000)
35,100
161,667

( 92,000)
( 43,000)
( 17,000)

( 5,500)
( 18,000)
30,100
128,000

2.

IFRS

VS.

IFRS

: ( )

/

22

IFRS

2.

, .

IFRS

VS.

( vs.
)

2112 ( vs.
)

23

IFRS

2.

() .

(80%)

IFRS

VS.

IFRS
(50%)

()

( ):

24

( )

2.

, , .

IFRS

VS.

IFRS

( )

( )

,

(2010 1 1)

( )
( )



25

2.

(
3 )


Guideline

IFRS

VS.

IFRS



Guideline
( )

( vs.
)
IT ,
/



()
26

IFRS

(EBITDA
)

(US GAAP)

2.

( )

IFRS

VS.

IFRS


( )
( ,
)

( )

27

2.

IFRS

VS.

()
( US$)
( )
,

28

IFRS




()

2.

IFRS

VS.

( )

(,
)

29

IFRS


(2009)

(EBITDA
)

1027

2.

:
30%
(100)
SPC

IFRS

VS.

IFRS
:
/
50% De Facto Control

SPC

/ (2 2013)
IFRS
De Facto Control
(SPE )
SPE

30

2.

1028

IFRS

VS.

IFRS

:

31

2.

Protocol .

IFRS

VS.

IFRS

(CGU)

(
(CGU) )

(Cash flow,
)

32

(5

Guideline)
K GAAP IFRS

2.

20

IFRS

VS.

IFRS

, ,

(
)
( )

( )

33

(EBITDA A )

2.

1039

1%
,

IFRS

VS.

IFRS

( )
(, ,
)

()

34

(
)

2.

1103

-
-

IFRS

VS.

IFRS

Put-Option

(2010 1 1)

35

2.

/


(,)

IFRS

VS.

()
:

, , ,

36

IFRS

2.

IFRS

VS.

IFRS

Map

37

K GAAP

(
)

2.

90%

IFRS

VS.

IFRS
90%

IFRS

38

IFRS

2.

(1103):
:
Update

IFRS

39

III. IFRS
1.

IFRS

2.

IFRS

3.

IFRS Survey

40

1. IFRS
International Financial Reporting
Standards

IFRS
( )

() CoA

IFRS

IFRS

IFRS

IFRS

IFRS

IFRS , ,
41

2. IFRS

()

IFRS

KPI

Process
Innovation System

Sustainability

.
42

2. IFRS (2/2)

43

IFRS

3. IFRS Survey
IFRS Survey
Other

13%

Pensions

5%

Taxation

5%

IAS 39

5%

Revaluation of investment properties

5%

More disclosure

5%

Series1

Share scheme/payments

8%

Time constraints

12%

More complexity

14%

Additional Costs

22%
0%

5%

10%

* 2007 6 CFO Survey

44

15%

20%

25%

3. IFRS Survey

IFRS
Confortable

( GAAP )
A lot easier

Audit
Committee

Uncomfortable
Neither

A little easier
No difference
A little more difficult
A lot more difficult

1% 4%
25%

19%

22%

9%

15%

6%

9%

8%
85%

72% 65%

58%

CEO

Board

* 2007 6 CFO Survey

45

3. IFRS Survey
IFRS Capital market Investors

Yes - Beneficial

No Not beneficial

Overall

33

29

FTSE 100

45

24

FTSE 200

24

33

Global

44

23

European

22

44

UK

14

38

* 2007 6 CFO Survey

46

47

2 : 90
2 : 120

2 IFRS : 90
2 IFRS : 120

2009. 2. 3

45 (IFRS
2 60)
2009. 2. 3
2 : 2011

2 : 2013
IFRS :

45

,
(
)

, ,
,

48

(K-IFRS)

2009. 2. 3

, , ,

2009. 1. 6

, , , , , :
,
, :

09 10

;

:

: 3
(2 2
: 4
(2 3 )

2009. 1. 6
K-IFRS
( 50% , , De facto control
)

: ,
2009. 2. 3

:

:
4(
6)
:
1(/ )

2009. 1. 6

49

2, 500

1, 1

2009. 2. 3

, ,
()
: (
)
: +
(
)

09

50

IFRS : ,
,
:
T/F (2009.5)

IFRS

K-IFRS
K-GAAP

2009 12

IFRS

51

IV. Q & A

Contact:

hyung-woo.kim@kr.ey.com
02-3787-6415
010-3126-6545
52