MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE

Yıl 2017, Cilt: 3 Sayı: 1, 986 - 999, 30.06.2017

Huseyin Mert Hasan Melih Eren

https://doi.org/10.17261/Pressacademia.2017.679

Öz

Warranty is
a type of contract where there is a seller commitment to satisfy the same
conditions of the product at the selling date for a reasonable period of time.
The services performed under this commitment are called standard warranty
services. Nowadays, intense competition in some industries pushes firms to
offer extended warranty on top of initial warranty period. This development
precludes future probable revenues from spare parts and repair services during
the life time of the product and concentrates significant portion of life time
value of the product to the selling date. Consequently, financial performance
of the companies is improved in the short run, while is deteriorated in the
long run as if the companies treat extra warranty periods as standard warranty
periods and accounts them accordingly. In this study, the separation of
standard and extended warranty periods will be discussed and the accounting and
measurement principles of those two situations in accordance with International
Financial Reporting Standards will be examined. Finally, recommendations for
fair presentation of warranty services across the industries will be presented. 

Anahtar Kelimeler

Standard warranty, Extended warranty, International Financial Reporting Standards

Kaynakça

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