, 41 (2007 12 ) * 1) ***.,. I.,..., ( ) ( ).,. ( ) *. ** 1
2, 41,. 0..,,.,,.,,.....,,..,
3..,,... II. ( ).,.,. ( ).. : 1 1. 1. ( : 1,000,
4, 41 : 8%, : 3 ) 1,000. ( ) 12%. 1 1, 10 5,000 1 5,800. 1 903.926 1 96.074. 1 1. 2. 800, 200.. : 903,926 1,000,000 = 903,926 903,926 + 96,074 96,074 1,000,000 = 96,074 903,924 + 96.074 ( ) : ( : 12%) 1,000,000 0.71178 = 711,780 1,000,000 1,000,000 80,000 2.40183 = 192.146 (903,926) ( ) 96,074 : 903,926 96,074
5 1,000,000 96,074 96,074 : 76,859 76,859 464,000 400,000 64,000 : [ ] ( ) 12% 1 903.926. 1 96.074.. III.. ( ),.
6, 41. = + = +...... : ( ) :
7 : * :,
8, 41.,..,......
9 1. 1. : 903,926 1,000,000 903,926 + 96,074 96,074 1,000,000 903,926+ 96,074 = 903,926 1,000,000 = 96,074 0 1,000,000 1,000,000 1 903,926 1,000 = 903.926 1,000 1 96,074 1,000 = 96.074 0 : ( ) 903,926 1,000,000 96,074 1,000,000 1,000,000 96,074 96,074 2. : 76,859* 464,000 76,859 800,000 * 800 96.074 = 76,859 400,000 464,000* 864,000
10, 41 400,000 64,000 * 80 5,800 = 464,000. (A) A () (B) B. : 1 1. 1. 1,806,582. : 2,000 2,000,000 : 6% ( ): 15% 1 1 : 10 5,000 1 7,000 : 1 2 ( ): 3 12. 31. : : 113.24% ( : 10%)
11 1.. 2... 1 1. 1. 1 12. 31. 2 12. 31. 3. 3 1. 2. 1,600,. 4. 3 12. 31.. 1. ( : 10%) 1,000,000x0.75131 = 1,502,620 2,000,000 2,000,000x6%x2.48685 = 298,422 (1,801,042) 198,958 : 198,958x(1+0.10) 3 = 264,813 ( : 15%): 2,000,000x0.65752= 1,315,040 264,813x0.65752= 174,120 1,806,582 120,000x2.28323= 273,988 (1,763,148) ( ) 43,434 264,813 308,247
12, 41 2. ( 2,264,813) ( 1,763,148) 501,665. = = - = + 1 1,763,148 15% 264,472 120,000 144,472 1,907,620 2 1,907,620 15 286,143 120,000 166,143 2,073,763 3 2,073,763 15 311,050* 120,000 191,050* 2,264,813 861,665 360,000 501,665 80% 3 1,889,545** 15% 283,418* 120,000 163,418 2,052,963*** * ** (A) 211,850 A (184,218) 27,632 2,073,763-184,218 = 1,889,545 *** 2,000,000 + ( 264,813 20%) = 2,052,963 501,665. 308,247 2,000,000 (1,806,582) 193,418 501,665 193,418 308,247.
13 = 193,418 = 308,247 1 144,472 28.799%* 55,701 88,771** 2 166,143 33.118 64,057 102,086** 3 191,050 38.083 73,660 117,390** 501,665 100% 193,418 308,247 80% 3 163,418 38.083% 73,660 89,758 * 144,472 501,665 =28.799% ** 1 1. 1. : 43,434 43,434 ( ) 1,763,148 308,247 193,418 2,000,000 264,813 1 12. 31. : 264,472 120,000 55,701 88,771
14, 41 : ( ) 2,000,000 264,813 (137,717)* (219,476) ( ) 1,907,620 * 64,057+ 73,660= 137,717 : 43,434 2 12. 31. : 286,143 120,000 64,057 102,086 : ( ) 2,000,000 264,813 (73,660) (117,390) ( ) 2,073,763 : 43,434 3. 1,600 80%.
15 : : : : 1,600 10 1 =160 160 5,000= 800,000 264,813 80%= 211,850 43,434 80%= 34,747 34,747 34,747 211,850 211,850 27,632 27,632 * 1,120,000 800,000 320,000 : ( ) 2,000,000 (73,660) 52,963 (89,758) ( ) 1,889,545 : 800,000 538,965 8,687 4. 2,000,000
16, 41 52,963 2,052,963 IV... ( ).. ( ) ( ).. ( )...
17 A Study on the Accounting Treatment for Bonds with Stock Warrants 1)Kim, Song Ki* ABSTRACT Accounting standards acknowledge that detachable warrants and nondetachable warrants are significantly different in nature. However, accounting treatments for nondetachable warrants are, in essence, the same as accounting treatment for detachable warrants. The questions arises whether the allocation of the value of the warrants should be allocated to the exercise privilege. It is reasonable that the issuance of bonds with detachable warrants involves two securities, one a debt security, which will remain outstanding until maturity, and the other a warrant to purchase common stock. Due to the fact that separable instruments exists at the time of issuance, separate treatment is justified. However, the entire proceeds from nondetachable warrants should be recorded as debt. Although the legal forms are different, sufficient similarities of substance exist to support the same accounting treatment, that is, inseparability per se is not a sufficient basis for restricting allocation between identifiable components of a transaction. Therefore, to deny recognition of value to the conversion feature merely looks to the form of the instrument and does not deal with the substance of the transaction. * Professor, College of Business Administration, Seoul National University