The records system is believed to have started in Italy in the 14th century in line with trade developments in Europe. In 1491, Luca Pacioli, a mathematician, and an Italian Franciscan monk wrote the first book that described double-entry accounting processes. In many countries, including Korea, the government accounting standards used single-entry bookkeeping rather than double-entry bookkeeping that can be aggregated by account subject. The cash-based and single-entry bookkeeping used by the government in the past had limitations in providing clear information on financial status and establishing a performance-oriented financial management system. Accordingly, the National Accounting Act (promulgated in October 2007) stipulated the introduction of double-entry bookkeeping and accrual accounting systems in the government sector from January 1, 2009. Furthermore, the Korean government has also introduced International Financial Reporting Standards (IFRS), and the System of National Accounts (SNA). Since 2014, Korea owned five national accounts. In Korea, valuation began with the 1968 National Wealth Statistics Survey. The academic origins of the valuation of national wealth statistics which had been investigated by due diligence every 10 years since 1968 are based on the 'Engineering Valuation' of professor Marston in the Department of Industrial Engineering at Iowa State University in the 1930s. This field has spread to economics, etc. In economics, it became the basis of capital stock estimation for positive economics such as econometrics. The valuation by the National Wealth Statistics Survey contributed greatly to converting the book value of accounting data into vintage data. And in 2000 National Statistical Office collected actual disposal data for the 1-digit asset class and obtained the ASL(average service life) by Iowa curve. Then, with the data on fixed capital formation centered on the National B/S Team of the Bank of Korea, the national wealth statistics were prepared by the Permanent Inventory Method(PIM). The asset classification was also classified into 59 types, including 2 types of residential buildings, 4 types of non-residential buildings, 14 types of structures, 9 types of transportation equipment, 28 types of machinery, and 2 types of intangible fixed assets. Tables of useful lives of tangible fixed assets published by the Korea Appraisal Board in 1999 and 2013 were made by the Iowa curve method. In Korea, the Iowa curve method has been adopted as a method of ASL estimation. There are three types of the Iowa curve method. The retirement rate method of the three types is the best because it is based on the collection and compilation of the data of all properties in service during a period of recent years, both properties retired and that are still in service. We hope the retirement rate method instead of the individual unit method is used in the estimation of ASL. Recently Korean government’s accounting system has been developed. When revenue expenditure and capital expenditure were mixed in the past single-entry bookkeeping we would like to suggest that BOK and National Statistical Office have accumulated knowledge of a rational difference between revenue expenditure and capital expenditure. In particular, it is important when it is estimated capital stock by PIM. Korea also needs an empirical study on economic depreciation like Hulten & Wykoff Catalog A of the US BEA.

PURPOSES : This study attempts to reveal the limitations of the current asset valuation methods for road infrastructure, based on national accounting standards. We proposed novel asset valuation methods, namely; the nearly land price and ratio-based method(NLP&R), and the consumption-based depreciation method(CBD). In addition, we verified the possibility of application through the research on the road network of Daejeon Metropolitan City. METHODS : This study proposes a novel re-evaluation method for road facilities. Regarding land, the authors proposed calculating the asset value, using the arithmetic average of the publicly announced land price of nearby land, located on both sides of the road section. For structures, a consumption-based depreciation(CBD) method that reflects the current condition level of structures was proposed. RESULTS : Owing to the application of the evaluation method for the current guidelines, land value was evaluated at 0.84-8.12 trillion won, pavement value at 8.75 trillion won, tunnel value at 0.26 trillion won, and bridge value at 2.09 trillion won. Owing to the application of the novel evaluation method proposed in this study on road facilities of Daejeon City, land value was estimated at 6.96 trillion won, tunnel value at 0.28 trillion won, and bridge value at 2.40 trillion won. CONCLUSIONS : We discovered that four current evaluation methods for land prices have some limitations that were over-or underestimated. However, in the case of the novel evaluation method proposed in this study, the value of land assets was estimated at 6.96 trillion won, by applying the nearly land price and ratio-based method. The road pavement was evaluated at approximately 8.75 trillion won, by applying the newly calculated re-procurement cost per unit in 2019. Bridges and tunnels using the new evaluation method were evaluated to be higher than the existing evaluation methods, because the current damaged condition of the facilities was reflected in the valuation. It was concluded that the proposed method is more objective and reliable than the current evaluation methods.

PURPOSES: This study proposes the road asset valuation approach using alternative depreciation methods. It has become necessary to have asset management system according to the adoption of accrual basis accounting for governmental financial reporting and the amendment of the road act. Therefore, it is very important to analyze the effect of depreciation methods on road asset value as a basic research for road asset management system. METHODS: The Ministry of Strategy and Finance (MOSF) has mainly performed road asset valuation based on Write down Replacement Cost and Straight Line depreciation method. This study suggests some appropriate asset valuation methods for road assets through case analysis using three depreciation methods: Consumption-based depreciation method, Condition-based depreciation method, and Straight Line depreciation method. A road asset valuation data of national highway route 1 (year 2014) is used to analyze the effect of three depreciation methods on the road asset value. Road assets include land and structures (pavement, bridge, and tunnel). This study mainly focuses on structures such as bridges and tunnels, because according to governmental accounting standards, land and road pavement assets do not depreciate. RESULTS : The main results of this study are as follows. Firstly, overall asset value of national highway route 1 was estimated at 6.97 trillion KRW when MOSF's method (straight-line depreciation method) is applied. Secondly, asset value was estimated at 4.85 trillion KRW on application of consumption-based depreciation method. Thirdly, asset value was estimated at 4.37 trillion KRW when condition-based depreciation method is applied. Therefore, either consumption-based or condition-based depreciation methods would be more appropriate than straight-line depreciation method if we can use the condition data of road assets including land that are available in real time. CONCLUSIONS : Since road assets such as pavements, bridges, and tunnels have various patterns of deterioration and condition monitoring period, it is necessary to consider a specific valuation method according to the condition of each road asset. Firstly, even though road pavements do not depreciate, asset valuation through condition-based depreciation method would be more appropriate when requirements for application of non-depreciation approach are not satisfied. Since bridge and tunnel facilities show various patterns of deterioration and condition monitoring period by type and condition level, consumption-based depreciation method based on deterioration model would be appropriate. Therefore, it is necessary to have a reasonable asset management system to apply condition-based depreciation method and a periodic condition investigation to manage road assets well.

우리나라 도로는 1970년대부터 본격적으로 건설되어 관리대상 시설물이 증가하고, 노후가 심화되어 유 지관리에 소요되는 예산이 급격히 증가하고 있으나, 현재 유지관리는 구체적인 관리목표 및 적정예산에 대한 검토없이 사후대응적 유지보수와 확보된 보수예산의 효율적 집행에만 집중하고 있는 실정이다. 최근 도로관리에 충분한 재정투자가 현실적으로 어려운 상황에서 도로의 기능유지, 생애주기비용 등을 고려한 효율적인 유지관리 방안 마련 필요성이 지속적으로 제기되고 있으며, 특히, 최근 도로법 개정(14.1.14)으 로 도로건설 ․ 관리계획(5년)의 수립시 도로 자산의 관리체계구축에 관한 사항을 포함토록 하고 있다. 따라서, 자산관리체계의 구축에 앞서 현재 보유하고 있는 자산의 가치를 파악하는 것은 매우 중요하다. 국내의 경우 기획재정부에서 2011년 회계연도를 기준으로 사회기반시설을 포함한 공공용재산의 자산 가 치를 최초로 평가하였으며 일반국도의 자산가치는 총 131.6조, 그 중 1호선의 자산가치는 6.3조로 평가한 바 있다. 그러나 현 단계에서는 도로 자산관리체계를 도입할 만한 인프라자산의 가치평가방안에 대한 이론적 연 구와 실증 분석이 이루어졌다고 하기에는 무리가 있다. 따라서, 본 연구에서는 대전지방 국토관리청내의 일반국도 1호선을 대상으로 도로포장 중심의 자산가 치 평가방안을 제시하는 것을 목적으로 한다. 도로포장을 대상으로 한 자산가치 평가를 위해서는 우선 국가회계법상의 대상 인프라 현황과 자산가치 평가방법, 기존 자산가치 평가방법의 고찰이 우선되어야 하며 감가상각 방법, 자산가치 재평가 방법 등에 대한 해외사례 고찰과 문제점을 분석한 후 예산효율적이며 관리자와 이용자를 고려한 인프라 자산관리 구 축을 위한 평가방안 마련이 필요하다. 현재, 재평가시에는 원칙적으로 공정가액을 사용하여 자산의 가치 를 평가하지만 대체적 방법으로 다음과 같은 방법론이 많이 적용되어지고 있다. 토지 부분의 경우 도로의 면적과 토지의 공시지가 또는 해당 시군구의 동일 ․ 유사지목 개별공시지가 산술평균한 가액을 기준으로 산정이 이루어진다. 건물의 경우 일반적으로 상각후 대체원가법이 많이 적용되어지고 있다. 공작물 중 도 로포장 구간은 국토교통부에서 감가상각대체방안을 적용 중으로 이를 통해 시설의 관리·유지에 투입되 는 비용을 해당자산의 비용으로 인식하고 있는 실정이다. 대상구간은 대전지방 국토관리청 내의 일반국도 1호선으로 총 연장은 134.2km이며 교량 76개소, 터널 4개소를 포함하는 구간이지만 본 연구에서는 도로의 포장만을 고려하여 자산가치를 평가하고자 한다. 본 연구의 결과를 통해 포장의 자산가치에 따른 서비스수준의 변화 여부 등 자산관리전략 수립의 기초자료로 서 다양한 역할을 할 것으로 기대된다.

본 연구는 기업의 다국적성 및 다국적성과 무형자산 간의 상호작용, 그리고 다국적성과 글로벌 학습간의 상호작용이 기업의 가치에 미치는 영향을 한국기업을 실증분석 대상으로 하여 검증을 시도하였다. 회귀분석 결과는 다국적성이 기업의 가치에 부의 영향을 미치고 있음을 시사하며 한국기업의 경우 국제진출이 일천하여 지역적으로 분산된 경영활동들을 효과적으로 통합, 조정하는데 지출되는 비용이 신 기술을 접하거나 국가 간에 존재하는 제품가격과 요소비용의 차이를 아비트라쥐함으로써 얻는 이점을 초과한다는 것을 시사한다. 상호작용 효과를 포함한 회귀분석 결과는 기업의 기술수준과 다국적성, 마케팅능력과 다국적성, 그리고 글로벌 학습과 다국적성 등 세 개의 상호작용 변수들 중에서 두 개의 변수가 통계적으로 유의한 수준에서 기업의 가치에 영향을 미치고 있음을 보여준다. 마케팅능력과 다국적성간의 상호작용을 대표하는 변수의 회귀계수는 정의 값을 가지며 이는 다국적 기업은 광고비를 여러 시장에 배분함으로써 규모의 경제와 범위의 경제를 이용할 수 있음을 시사한다. 기술수준과 다국적성의 상호작용을 대표하는 변수의 회귀계수가 통계적으로 유의하지 못하다는 회귀분석 결과는 해외 투자한 한국기업들의 기술력이 국제경쟁력을 가진 무형자산으로 기능할 수 있는 수준에 미달되기 때문에 다국적성과 상호 작용하여 기업의 가치를 제고하는데 기여하고 있지 못함을 시사한다. 회귀분석 결과는 또한 글로벌 학습은 통계적으로 유의한 수준에서 기업의 가치에 정의 영향을 미치나 글로벌 학습과 다국적성의 상호작용은 기업의 가치에 부의 효과를 미친다는 것을 시사한다. 이는 최근에 정보와 운송기술의 급속한 진보로 국제거래에 따르는 의사소통비용과 수송비용이 대폭 감소했음에도 불구하고 기업이 표준절차의 수립, 소프트웨어 솔루션의 구축, 대면 커뮤니케이션, 실연이나 협상, 그리고 문제해결을 위한 공동노력 등 글로벌 학습에 필요한 범세계적인 인프라를 구축하는 비용이 우리의 예상과는 달리 매우 크다는 것을 시사한다.

Recent asset management of infrastructure has become an important issue for the effective operation and management, performance, and social innovation in Korea. Therefore, this study should asserts the needs and importance of asset management according to main infrastructures in Korea. Accordingly, The purpose of this study is as follows; First, it investigate the current asset status for the infrastructure including the main SOC of Korea. Second, it suggest on the framework and process for asset assessment measuring of main infrastructures in Korea.

Recent asset management of infrastructure has become an important issue for the effective operation and management, performance, and social innovation in Korea. Therefore, this study should asserts the needs and importance of asset management according to main infrastructures in Korea. Accordingly, The purpose of this study is as follows; First, it investigate the current asset status for the infrastructure including the main SOC of Korea. Second, it suggest on the framework and process for asset assessment measuring of main infrastructures in Korea.

Maintenance of facilities is also growing in importance with the increased quantity. In developed countries, it is trying to introduce the asset management of the facility. In addition, the Korea Accounting guidelines presents a valuation method for the facility. In this study, we investigated the methods presented in infrastructure assets for accounting guidelines.