Contents
The effect of first-time adoption of K-IFRS on consolidated financial statements: a case study of Pulmuone company / Kim, Jung Ae ; Choi, Jong Seo 1
〈Abstract〉 1
〈국문초록〉 2
I. Introduction 3
II. First-time adoption of K-IFRS 5
2.1. Business combinations 6
2.2. Fair value or revaluation as deemed cost 7
2.3. Employee honest plans 7
2.4. Compound financial instruments 7
2.5. Cumulative translation differences 7
2.6. Assets and liabilities of subsidiaries, associates and joint ventures 8
2.7. Designation of previously recognized financial instruments 8
2.8. Borrowing cost 9
III. Consolidated financial statements 9
IV. First-time adoption of K-IFRS in Pulmuone Company 10
4.1. Overview of process of implementation of early adoption of K-IFRS 13
4.2. Major difference of overview of process of implementation of early adoption of K-IFRS 13
4.3. Explanation of transition to K-IFRS 14
4.4. Overview of effects of transition to K-IFRS 15
4.5. The Pulmuone Company presents the impact of transition to Korean flnancial reporting standards 16
V. Conclusions 24
Reference 26