of Resources
Resource of Amazon is an intangible asset such as employee, knowledge, and brand name. Amazon gains employees from established businesses in the middle of acquisition process, and transfer to Amazon employees, relocating as working forces of Amazon. These new workforces enable to Amazon to achieve learning effects in many ways and gain synergy. Also, acquisition with small companies
of IFRS on the financial statement can be summarized as follows: (only the accounts that has been changed by the adoption of the IFRS is stated)
The statement of financial position
as of 1 JAN 2008 (transition date) (in number of thousands of won)
accounts K-GAAP Effect of the adoption of the IFRS K-IFRS
Investment on subsidiaries 6,553,113 397,357 6,950,470
Intangibles - 1,384,221 1,384,22
of completion method is not applicable
3. Defined benefit pension accounting
4. Cannot offset the prepaid cigarette tax expense with cigarette tax
payable; both assets and liabilities have risen by 201,774.
5. There is a number of reclassification among asset classes
- Intangible asset ↑ by \47,937million
- Investment property ↑by \107,331 million
6. Other payable(employee comp
KT&G has decided to early-adopt IFRS. KT&G has organized a Task Force Team to conduct internal training and analyze the effects of adopting IFRS since the government announced the adoption of IFRS. In October 2008, the company has appointed an External Advisor to analyze the main differences between IFRS and K-IFRS as the first-phase preparation. In the second-phase preparation, KT&G established
a. Principal activities of Shinsegae
Shinsegae is a company that performs distribution, mainly. Distribution is an activity that the goods are exchanged and distributed in many stage from a manufacturer to a consumer. That is, distribution companies take a role as a broker which is buying the goods from manufacturer in the cheapest price and supplying to a consumer who uses them.
Shinsegae is