반품권의 회계처리에 대한 소고

Abstract

Frequently purchasers of merchandise have the right of return the goods they

purchase for a full or partial refunds. This paper discusses how the right of return

affects revenue recognition from the perspective of asset valuation. When returns are

substantial, recognizing returns only as they occur could cause income to be overstated

in the period of the sale and understated in the return period. To avoid the distortion

of income measurement and asset valuation when amounts are material, the amount of

returns should be estimated and an allowance for estimated returns should be

established. If, however, returns are unpredictable, the goods should not be considered

sold and not be removed from its inventory. The Korean reporting standards relating

to the return are quite complex. This paper suggests an alternative accounting

treatment for sales returns.