거시적 회계정책과 회계기준의 이원적 역할

Macro-Accounting Policy and the Dual Roles of Accounting Standards with Case of Korean Accounting Standard for Foreign Currency Translation

This study attempted to understand a macro-accounting policy and its roles in a society by conducting a case study of the institutional inkage structure that had been developed as a analytical conceptional tool in the field of the institutional theories. The standard had changed the accounting policy for the loss resulted from currency conversion from an item in the income statement to an item of capital adjustments in the balance sheet and then to a deferred asset since 1996. Finally the policy was changed back to report the loss as an item in the income statement in 1999. We regarded the changes in the accounting standard as a macro-accounting policy and assumed that they would not conducted separately from other relevant domains and institutions in them. Then, we investigated them based on the institutional linkage structure that was built on financing domain related to the accounting institution. As a result, we found out that the adoption of the floating exchange rate system functioned as a trigger to urge the changes, which allowed to expose the problems of the enormous foreign debts financed by the Korean major companies. Also, the series of the changes was a process for resolving the problems that the economic system followed its own configuration.