? asked in 社會與文化語言 · 1 decade ago

會計問題~korean GAAP to U.S GAAP

Korea Electric Power Corporation is a Company that i select

1. 我想知道韓國的 accounting standard (會計的標準)是 怎麼形成ㄉ?

2. 我想知道 significant accounting principles in (重要的會計條約) 韓國, 然後 what are the major differences between 韓國 GAAP 和 U.S GAAP??

3. 當使用韓國GAAP時, what are the significant income statement items that have been reconciled from Korean GAAP to U.S GAAP??

1 Answer

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  • Anonymous
    1 decade ago
    Favorite Answer

    Difference between Korean GAAP and US GAAP

    Korean GAAP US GAAP

    LLR

    ! According to the FSS’s asset quality criteria, more than

    minimum LLR ratio should be accumulated

    ! Not necessary to accumulate LLR for the unused credit line

    ! Disposal of assets via ABS is regarded as completion of

    transaction, meaning that no additional losses will be incurred

    ! LLR is accumulated based on estimated losses by applying

    historical loss ratios. DCF is employed for NPLs

    ! Required to accumulate LLR for the unused credit line

    ! Disposal of assets via ABS is regarded as completion of

    transaction only when it meets a certain criteria, meaning that

    additional losses can be incurred in some circumstances

    Evaluation of securities ! Securities are evaluated based on market price ! Some value is lost when there is limit on disposal (eg, Hynix’s

    converted shares)

    Asset re-valuation gains ! Reflected ! Not reflected

    Deferred income tax ! Can be reflected as gains before it is realized ! Reflected as gains when it is realized

    Minority interest ! Included in shareholders’ equity ! Excluded from shareholders’ equity

    Redeemable preferred

    stocks ! Included in shareholders’ equity ! Excluded from shareholders’ equity

    Source(s): LG investment and securities
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