外貨換算에 관한 硏究 = A Study on the Foreign Currency Translation

다국어 초록 (Multilingual Abstract)

This study is designed to evaluate and improve the Korean standards of foreign currency translation.
The problems related to the translation of foreign currency financial statements are as follows.
1) Selection of translation method
2) Selection of specific exchange rate
3) Accounting for translation gains or losses
4) Disclosure of translation related informations
The several methods for foreign currency translation may be grouped into four basic classes : current-noncurrent method, monetary-nonmonetary method, temporal method and current rate method.
The Korean standards of foreign currency translation are based on Financial Accounting Standards for Business Enterprises established by the Securities Exchange Commission as approved by the Ministry of Finance.
The Financial Accounting Standards for Business Enterprises provides for two alternative translation methods : monetary-nonmonetary method and current rate method, whichever is acceptable in any situation only if applied on a consistent basis.
Recommendations for Korean translation standards are as follows ;
1) The accounting standards on the translation of foreign currency financial statements should be separated from Financial Accounting Standards for Business Enterprises for systematic and comprehensive one.
2) All foreign accounts must be adjusted so that the foreign accounts will be in conformity with Korean generally accepted accounting principles.
3) The financial statements of a foreign-based operations that is affected by high rates of inflation should be adjusted for the effects of changing prices before the translation process is undertaken.
4) The selection of translation method among alternatives should be made based on the nature of each foreign-based operation judged under the guideline or based on any other criteria, which would enhance the comparability of financial data between companies operating under similiar business environment.
5) The following disclosures should be made the regard to the translation of the financial statements of foreign-based operations.
·An indication for selection basis of the translation method
·Accounting principles adopted by foreign-based operations, if differ from their head offices
·Translation method of foreign currency financial statements
·Accounting for translation gains or losses

목차 (Table of Contents)

• Ⅰ. 序論
• Ⅱ. 理論的 背景
• Ⅲ. 各國의 外貨換算會計
• Ⅳ. 現行 外貨換算基準의 問題點과 改善方案
• Ⅴ. 結論