연구논문 : 한국 방위산업의 원가이전활동

용홍중(제1저자) ( Hong Jung Yong ),정형록(교신저자) ( Hyung Rok Jung ),안태식(공동저자) ( Tae Sik Ahn ),박진하(공동저자) ( Jin Ha Park ) 한국회계학회 2015 회계저널 Vol.24 No.6

본 연구는 국내 대표적인 규제산업 중 하나인 방위산업을 대상으로 이익을 극대화하기 위하여 민수부문에서 발생한 원가를 방산부문으로 이전하는 기회주의적 행태를 보이는지를 실증적으로 분석하였다. 선행연구들은 원가이전 수단으로 노무원가, 제조경비, 연금비용 등과 같은 일부 원가요소만을 고려하거나 재량적 발생액을 이용한 간접적인 방법으로 원가이전가설을 검증하였다. 이와 달리 본 연구는 원가이전과 관련된 모든 원가요소가 포함된 원가이전금액을 추정하여 방위산업체 경영자의 원가이전활동을 분석하고 원가이전금액에 영향을 미치는 요인을 실증하였다는 점에서 기존 연구의 한계점을 극복하고 연구범위를 확대하고자 하였다. 본 연구에서 사용된 자료는 1997년부터 2009년까지의 ``방산업체 경영분석`` 책자를 통해 재무자료를 공시하는 모든 방위산업체를 대상으로 직접 수집하였다. 원가이전금액은Yetman(2001) 모형을 이용하여 추정하였으며 연구결과는 다음과 같다. 먼저, 원가이전금액은 평균적으로 양(+)의 값으로 보고되었다. 이는 국내 방위산업체들이 민수부문에서 방산부문으로 원가를 이전하여 이익을 관리하고 있는 것으로 해석할 수 있다. 구체적으로 방위산업체의 원가이전현상은 방산부문의 매출액 비중에 따라 증가하다가 다시 감소하는역 U자 형태를 보였다. 다음으로 원가이전금액에 영향을 미치는 요인으로서, 재량권 발휘와 원가보상이 용이한 원가가산계약제도에 의한 거래실적이 있으면 원가이전수준은 증가하며, 국방획득제도의 개선활동과 이사회의 독립성이 클수록 원가이전수준은 감소하였다. 그러나 산업별 경쟁수준에 대해서는 유의한 결과가 발견되지 않았다. This study empirically examines the cost shifting hypothesis of defense industry, which is one of the most regulated industries in Korea. The defense companies have incentive to shift costs from commercial sector to defense sector in order to maximize their earnings. In previous literature, approaches to the cost shifting activity were made indirectly by considering only discretionary accruals or certain cost components, such as labor costs, overhead costs, and pension expenses. However, this study utilizes a Yetman(2001) model that estimates ``cost shifting amounts`` as an aggregate measure that considers all cost components regarding cost shifting activity. This paper also examines factors that affect the cost shifting amounts. The results of this paper are as follows. First, the cost shifting activity in the Korean defense industry follows an inverted-U shaped curve with the proportion of defense sector sales to total sales. Second, result shows that the cost shifting amounts is higher under the cost plus contract consistent with our prediction. This is because the cost plus contract reimburses all costs that occur in the production process of defense articles and facilitates the exercise of discretion, which defense company can exploit to increase earnings and receive more compensation by shifting costs from commercial sector to defense sector. Third, the improvement of defense acquisition policy were found to have a negative relation with the cost shifting amounts. This can be understood that, following the political costs hypothesis, the improvement of defense acquirement policy will strengthen the monitoring and control of the regulator. This will act as a high level of political costs to defense contractor, which will relatively deter cost shifting activity. Fourth, the independence of the board was found to have a negative relation with the cost shifting amounts. This implies that outside directors will monitor and control the firm by blocking cost shifting which can be regarded as irrational behavior. Fifth, the industry concentration was not found to have a significant relation with cost shifting activity. This is consistent with McGowan and Vendrzyk(2002) that the high profitability of defense industry, when competition is low, is not from cost shifting. This paper seeks to overcome the limitations of prior studies. It also extend the scope of existing literature by providing factors that affect cost shifting activity.

공공부문 재무보고를 위한 개념체계 해외사례 분석: 미국과 캐나다의 공공부문 개념체계 비교,분석을 중심으로

최연식 ( Youn Sik Choi ),박진하(공동저자) ( Jin Ha Park ),권대현(교신저자) ( Dae Hyun Kwon ) 한국회계학회 2016 회계저널 Vol.25 No.3

본 연구는 국가 재무보고를 위한 개념체계의 도입이 이루어지고 있는 미국과 캐나다의 사례를 분석한다. 정부회계의 개념체계 관련 연구는 그 필요성이 증가하고 있음에도 불구하고 국내연구는 거의 이루어지지 않고 있다. 본 연구는 미국 연방회계기준자문위원회(FASAB), 미국 지방회계기준위원회(GASB), 캐나다 공공회계기준위원회(PSAB)의 개념체계를 각각 살펴보고, 이들 개념체계를 개념체계의 제정과정 및 의의의 서술방식, 정보이용자, 일반목적재무보고(서), 보고실체, 재무정보의 질적 특성 및 제약요인, 재무제표의 요소, 인식(기준), 측정기준의 관점에서 비교·분석한다. 분석결과, 이들 국가의 경우 정부부문에 발생주의 회계제도가 도입된 지 얼마 되지 않았음에도 불구하고 개념체계는 상당히 체계화되고 고도화되어 있는 것으로 보인다. 이는 사례국가들이 민간부문의 정교한 개념체계를 정부부문의 특성을 반영하도록 수정하는 방식으로 이식할 수 있었기 때문으로 판단된다. 해외사례 간 비교·분석 결과를 토대로 본 연구는 향후 우리나라 정부부문에 개념체계도입 시 국가회계 재무보고의 목적과 한계의 명확화, 국가회계 재무보고의 체계 설정, 국가회계 재무정보의 정부부문 관리회계정보로의 활용 등에 고려될 수 있을 것으로 생각한다. 우리나라의 경우 정부부문회계의 개념체계가 정립되어 있지 않은 상황이므로, 이미 정부회계의 개념체계 도입이 이루어지고 있는 해외국가의 사례를 분석하는 것은 개념체계 도입을 위한 기초작업으로서의 의미가 있다고 하겠다. 본 연구의 의의는 개념체계 도입이 진행 중인 미국과 캐나다의 사례를 비교·분석하고 이를 기반으로 정책적 시사점을 제시함으로써, 정부회계 개념체계와 관련한 연구의 활성화에 기여하는 데 있다. This study investigates and compares the conceptual framework for financial reporting by public sector entities provided by the FASAB (Federal Accounting Standards Advisory Board) and GASB (Governmental Accounting Standards Board) of the U.S., and PSAB (Public Sector Accounting Board) of the Canada. As the objective of financial reporting is to provide useful information as a basis for economic decision making, a conceptual framework will form a theoretical basis for determining how transactions should be measured and reported. So the conceptual framework helps enhance the consistency of standards and serves the public interest by establishing structure and direction to financial accounting and reporting. Korea introduced accrual accounting into government financial reporting. In this transition to the accrual basis of accounting, this study suggests that we should prepare the conceptual framework for financial reporting by public sector entities. The paper proceeds as follows. In section Ⅰ, we establish a baseline understanding of conceptual framework for financial reporting by public sector entities. In section Ⅱ, we review prior literature and present our research purpose. In section Ⅲ, we investigates and compares the establishment and enforcement of conceptual framework for financial reporting by public sector entities of three different Board: FASAB, GASB, and PSAB. Section Ⅲ also reviews the content of the current conceptual framework in more depth, and provide policy implication to develop conceptual framework for government accounting and financial reporting. Finally, section Ⅳ concludes. In specific, first, FASAB came to be in 1990 as a response to the requirement for audited financial statements for selected federal reporting entities. FASAB developed and recommended a comprehensive set of accounting standards including Statement of Federal Financial Accounting Concepts (SFFAC). SFFAC is FASAB’s conceptual framework intended to set objectives and fundamentals of federal financial reporting. FASAB’s conceptual framework is expected to enhance the consistency of standards and to serve the public interest by providing an underlying structure for current and future accounting and reporting standards. SFFAC1 is a conceptual statement on the objectives of financial reporting by the federal government. SFFAC 2 provides guidance on entity and display. SFFAC 3 is a conceptual statement on the management’s discussion and analysis (MD&A). SFFAC 4 is a conceptual statement on the intended audience and qualitative characteristics for the Consolidated Financial Report of the US Governments. SFFAC 5 is a conceptual statement on the elements of accrual-basis financial statements and basic recognition criteria. SFFAC 6 is a conceptual statement on the distinguishing basic information, required supplementary information, and other accompanying information. SFFAC 7 is a conceptual statement on the measurement of the elements of accrual-basis financial statements in periods after initial recording. Second, GASB was established in 1984 and is the source of generally accepted accounting principles (GAAP) used by State and Local governments in the US. Different to FASAB, GASB is a private, non-governmental organization. GASB states independence, integrity, objectivity, and transparency as its key value. GASB developed and recommended a comprehensive set of accounting standards including Concept Statements (GASBCS). GASBCS 1 is a conceptual statement on the objectives of financial reporting. GASBCS 2 is a conceptual statement on the service efforts and accomplishments reporting. GASBCS 3 is a conceptual statement on the communication methods in General Purpose External Financial Reports (GPEFR) that contain basic financial statements. GASBCS 4 is a conceptual statement on the elements of financial statements. GASBCS 5 is a conceptual statement on the service efforts and accomplishments reporting-as amended by GASB Concepts. GASBCS 6 is a conceptual statement on the measurement of elements of financial statements. Third and finally, PSAB (formerly Public Sector Accounting and Auditing Board (PSAAB)) was created in 1981 to serve the public interest by establishing accounting standards for the public sector. As series of a PSAB Strategic Plan 2013 through 2016, PSAB developed and recommended a comprehensive set of accounting standards including the conceptual framework as a form of consultation paper. Consultation paper 1 is a conceptual statement on the characteristics of public sector entities. Consultation paper 2 is a conceptual statement on the measuring financial performance in public sector financial statements. Consultation paper 3 is a conceptual statement on the conceptual framework fundamentals and the reporting model. By analyzing and comparing conceptual framework for financial reporting by public sector entities of three different Board, this study aims to provide a useful guidance for Korean governments and government entities in setting the conceptual framework for government accounting and financial reporting.