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 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.

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.