Abstract

From 2011, all listed firms and some financial companies should apply IFRS. Even though realestate funds are classified as financial institute under ‘the capital market law’. But it is notmandatory for real estate funds to apply IFRS, it matters to study how the introduction of IFRSinfluences the real estate fund accounting and what issues exist, because many of their investorsto real estate funds are entities which should apply IFRS. Specially, as samples for case study thispaper selected two private real estate funds and six public real estate funds from disclosure systemfor funds of KOFIA (Korea Financial Investment Association). Overall, our results suggest thatrelated guidelines and procedures need to be amended to apply IFRS even though the differencemight not be significant and further actions to protect information users should be taken.

Keywords

• IFRS
• real estate fund
• guidelines

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