一般物價水準修正會計와 資産再評價會計의 實證的 比較硏究 = A Comparison of General Price Level Adjusted Accounting with Revaluation Accounting; An Empirical Study

다국어 초록 (Multilingual Abstract)

This study attempts to compare revaluation accounting with general price level adjusted accounting. For the purpose of this study, the author has selected the listed companies in Korea which practiced revaluation in 1980, and analyze the relationship of the adjusted results of the revaluation data, historical cost data, and the general pirce level accounting data.
From the empirical analyses, the findings are summarized in the following way:
1. With respect to the total asset scale, the adjusted results of the sample companies show that REA increased by 7.8% in comparison with HC, and that HC increased by 26.1% in comparison with GPL. This results are caused by the tangible fixed assets' effect. With respect to net income, REA decreased by 68.6% in comparison with HC due to the depreciation expenses' effect, and GPL increased by 476.3% compared with HC. This difference is caused by the fact that GPL includes a purchasing power gain. Therefore, it could be reached the conclusion that the sample companies enjoy a large purchasing power gain.
2. With respect to a fixed asset holding level, we can compared REA with GPL adjusted results, and the results show that REA has a higher fixed asset holding level and a lower net income than HC. Therefore, in proportion to the holding levels of the fixed asset, REA and GPL tend to be far greater difference in the net income ratio.
3. With respect to debt ratio level, that of the companie's being high, the adjusted effect range of GPL will be 14.47 times higher than that of HC. And that of companies' being low, the former will be 3.34 times higher than latter. As a result, debt ratio level has a great effect on income ratio.
4. Also, we analyzed price level adjusted effect by combination of fixed asset holding and debt ratio level. The combined companies whose fixed asset holding level and debt ratio are high, show that adjusted effect's range of the net income is high in GPL to REA. In contrast with this, the combined companies whose fixed asset holding level and debt ratio are low, show that it is low in GPL to REA.
5. With respect to net profit on the sales level, we can analyze the adjused results. The effect of net profit on sales level makes little difference. Namely, it has no effect on the adjusted results just as that of fixed asset holding level or debt ratio.
6. with respect to analyzing results from the companies separated along the difference of the period, in the case of the revaluation, the longer the period of revaluation, the larger adjusted effect's rango of the tangible fixed asset and owner's capital. But it makes little difference on net income and net income ratio. Resultly, general price level accounting has no reation to the period of revaluation.
Finally, the results, through the coeffificient of rank correlation's analysis, showed that HC and REA have very high coefficients in the full range of objects studied. HC and GPL, GPL and REA are very low coefficient in net income ratio. Therefore, it will be concluded that TEA is non available in the process of decision making.