Research Article
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Year 2016, Volume: 3 Issue: 4, 330 - 344, 31.12.2016
https://doi.org/10.17261/Pressacademia.2016.347

Abstract

References

  • Akbaş, H.E., Ekonomik Katma Değer Yaklaşımı ve Hissedar Değeri. Mali Çözüm Dergisi, 107:119-120.
  • Bastı, E., Yılmaz T., İMKB’de İşlem Gören Yerli ve Yabancı İmalat Sanayi Şirketlerinin Ekonomik Katma Değer (EVA) ve Piyasa Katma Değerine (MVA) Dayalı Performans Analizi, Finans Politik &Ekonomik Yorumlar,50(578):62.
  • Bayrakdaroğlu, A., Ege İ., (2009) Yatırımın Nakit Akım Karlılığı (CFROI) Yöntemi ile İMKB’de İşlem Gören İşletmelerin Performanslarının Analizi. Muhan Sosyal işletmecilik Konferansı, ODTÜ, 10 Şubat.
  • Clinton, B.D. and S.Chen,(1998) ‘’Do New Performance Measures Measure Up? Management Accounting, 80 (4): 38-43.
  • Çakıcı, C., (2008), Ekonomik Katma Değer (EVA) Yaklaşımı, Beta Basım, İstanbul,181.
  • Epstein, Barry Mirza, Abbas Ali (2002) “Interpretation Application of International Accounting Standards” John Wiley & Sons, Inc., USA ,292,294
  • Erasmus, P.,(2008), ‘’The Relative and Incremental Information of the Value Based Financial Performance Meause Cash Value Added (CVA)’’, Journal of the Southern African Institute for Management Scientests, 17 (1):2-15
  • Fernandez, P. (2002), ‘’Three Residual Income Valuation Methods and Discounted Cash Flow Valuation’’, Working Paper No:453, January. Erişim Adresi: http://ssrn.com/abstract=296945.
  • Günther, T., B. Landrock and T. Muche, (2000), “Profit versus Value Based Performance Measures. An Empirical Investigation Based on the Correlation with Capital Market for German DAX‐100 Companies”, Controlling, 1(2): 69‐75 and 2(3): 129‐134.
  • Hejazi, R. and M.M. Oskouei (2007), ‘’The Information Content of Cash Value Added (CVA) and P/E Ratio: Evidence on Association with Stock Returns for Industrial Companies in the Tehran Stock Exchange’’, Iranian Accounting and Auditing Review, 14(47): 21‐36.
  • Jacobs, J.F. (2007), ‘’Neither EVA® nor CVA®, but NVA Measuring Financial Performance, Uninterrupted, from Start to Finish, Social Science Research Network Electronic Paper Collection, Erişim Adresi: http://ssrn.com/abstract=366561.
  • Kara, H., (2005), Katma Değer Yaratmaya Dayalı Finansal Performans Ölçütü Olarak EVA(Economic Value Added) İMKB Şirketleri Üzerine Bir Uygulama, SPK Yayınları, Ankara, 234.
  • Kieso, D.E. & Weygant, J.J. (1992) Intermediate Accounting, Seventh Edition, John Wiley and Sons. Inc.,s.547
  • Larson, K.D. & Miller, P.B.W, (1993). Fundamental Accounting Principles, Irwin Inc., Boston,542.
  • Li, Y. X. and X.Y. Guo, (2003), ‘’Selection of Performance Measurement Methods in Corporations: CVA or EVA?’’, Journal of Dalian University of Technology (Social Sciences), 3: 12‐27.
  • Pratt, J. (1993). Financial Accounting, Second Edition, South-Western Publishing Co., Cincinnati Ohio, (158), s.17-20
  • Stewart, G,B., (1991), The EVA Management Guide: The Quest for Vlue, Harper Business Publishers,174.
  • Tuğay, O., Maddi Duran Varlıklarda Amortisman Uygulamalarının TMS 16 ve Vergi Mevzuatı Açısından İncelenmesi. Çukurova Üniversitesi İİBF Dergisi, 17(2):172.
  • Urbanczyk, E., E.M. Jaroszewicz and A.S. Urbaniak, (2005), ‘’Economic Value Added Versus Cash Value Added: The Case Of Companies In Transitional Economy, Poland’’, International Journal of Banking and Finance, 3(1): 107‐117 . Ünlü, U., Yatırımın Nakit Akım Karlılığı (CFROI) ve Nakit Katma Değer (CVA) Yöntemi Borsa İstanbul’da İşlem Gören Çimento Firmaları Üzerine Ampirik Bir Uygulama. Eskişehir Osmangazi Üniversitesi İİBF Dergisi,9(2),169-182.
  • Yüreğir O.H., Nakıboğlu G., Performans Ölçümü ve Ölçüm Sistemleri: Genel Bir Bakış.Ç.Ü.Sosyal Bilimler Enstitüsü Dergisi,16(2),553.
  • www.kap.gov.tr, Erişim Tarihi:19.09.2016.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TFRS/TFRS_5.pdf, Erişim Tarihi:04.03.2015.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TMS/TMS16.pdf , Erişim Tarihi:04.03.2015.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TMS/TMS38.pdf , Erişim Tarihi:04.03.2015.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TMS/TMS40.pdf, Erişim Tarihi:04.03.2015.

EFFECTS OF DEPRECIATION METHODS ON PERFORMANCE MEASUREMENT METHODS: A CASE OF ENERGY SECTOR

Year 2016, Volume: 3 Issue: 4, 330 - 344, 31.12.2016
https://doi.org/10.17261/Pressacademia.2016.347

Abstract

The companies amortize according to
the tax laws and accounting standards for their assets recorded in their
actives.  The amounts calculated
according to the useful life based on the standards and tax regulations and
depreciation rates connected with it are ascertained and recognized as an
expense pursuant to periodicity concept. Since the amounts recognized as an
expense directly affects the profit and loss, it is important for the companies
to calculate the useful life of their fixed assets and to determine and
implement the proper method. Besides, current performance measurement methods
confront us with different approaches and the methods being used enhances the
success, value of the companies while being a guide. In this research, the
effects on performance measurement methods of current depreciation procedures
according to accounting standards has been analyzed and the issue has been
tried to assessed by taking the energy industry into consideration. Within this
scope, the performances in 2014-2015 of energy companies active in Istanbul
Stock Exchange are examined based on Economical Added Value (EVA) and Cash Flow
Return on Investment (CFROI) models and it was determined whether or not the
companies has created value. 

References

  • Akbaş, H.E., Ekonomik Katma Değer Yaklaşımı ve Hissedar Değeri. Mali Çözüm Dergisi, 107:119-120.
  • Bastı, E., Yılmaz T., İMKB’de İşlem Gören Yerli ve Yabancı İmalat Sanayi Şirketlerinin Ekonomik Katma Değer (EVA) ve Piyasa Katma Değerine (MVA) Dayalı Performans Analizi, Finans Politik &Ekonomik Yorumlar,50(578):62.
  • Bayrakdaroğlu, A., Ege İ., (2009) Yatırımın Nakit Akım Karlılığı (CFROI) Yöntemi ile İMKB’de İşlem Gören İşletmelerin Performanslarının Analizi. Muhan Sosyal işletmecilik Konferansı, ODTÜ, 10 Şubat.
  • Clinton, B.D. and S.Chen,(1998) ‘’Do New Performance Measures Measure Up? Management Accounting, 80 (4): 38-43.
  • Çakıcı, C., (2008), Ekonomik Katma Değer (EVA) Yaklaşımı, Beta Basım, İstanbul,181.
  • Epstein, Barry Mirza, Abbas Ali (2002) “Interpretation Application of International Accounting Standards” John Wiley & Sons, Inc., USA ,292,294
  • Erasmus, P.,(2008), ‘’The Relative and Incremental Information of the Value Based Financial Performance Meause Cash Value Added (CVA)’’, Journal of the Southern African Institute for Management Scientests, 17 (1):2-15
  • Fernandez, P. (2002), ‘’Three Residual Income Valuation Methods and Discounted Cash Flow Valuation’’, Working Paper No:453, January. Erişim Adresi: http://ssrn.com/abstract=296945.
  • Günther, T., B. Landrock and T. Muche, (2000), “Profit versus Value Based Performance Measures. An Empirical Investigation Based on the Correlation with Capital Market for German DAX‐100 Companies”, Controlling, 1(2): 69‐75 and 2(3): 129‐134.
  • Hejazi, R. and M.M. Oskouei (2007), ‘’The Information Content of Cash Value Added (CVA) and P/E Ratio: Evidence on Association with Stock Returns for Industrial Companies in the Tehran Stock Exchange’’, Iranian Accounting and Auditing Review, 14(47): 21‐36.
  • Jacobs, J.F. (2007), ‘’Neither EVA® nor CVA®, but NVA Measuring Financial Performance, Uninterrupted, from Start to Finish, Social Science Research Network Electronic Paper Collection, Erişim Adresi: http://ssrn.com/abstract=366561.
  • Kara, H., (2005), Katma Değer Yaratmaya Dayalı Finansal Performans Ölçütü Olarak EVA(Economic Value Added) İMKB Şirketleri Üzerine Bir Uygulama, SPK Yayınları, Ankara, 234.
  • Kieso, D.E. & Weygant, J.J. (1992) Intermediate Accounting, Seventh Edition, John Wiley and Sons. Inc.,s.547
  • Larson, K.D. & Miller, P.B.W, (1993). Fundamental Accounting Principles, Irwin Inc., Boston,542.
  • Li, Y. X. and X.Y. Guo, (2003), ‘’Selection of Performance Measurement Methods in Corporations: CVA or EVA?’’, Journal of Dalian University of Technology (Social Sciences), 3: 12‐27.
  • Pratt, J. (1993). Financial Accounting, Second Edition, South-Western Publishing Co., Cincinnati Ohio, (158), s.17-20
  • Stewart, G,B., (1991), The EVA Management Guide: The Quest for Vlue, Harper Business Publishers,174.
  • Tuğay, O., Maddi Duran Varlıklarda Amortisman Uygulamalarının TMS 16 ve Vergi Mevzuatı Açısından İncelenmesi. Çukurova Üniversitesi İİBF Dergisi, 17(2):172.
  • Urbanczyk, E., E.M. Jaroszewicz and A.S. Urbaniak, (2005), ‘’Economic Value Added Versus Cash Value Added: The Case Of Companies In Transitional Economy, Poland’’, International Journal of Banking and Finance, 3(1): 107‐117 . Ünlü, U., Yatırımın Nakit Akım Karlılığı (CFROI) ve Nakit Katma Değer (CVA) Yöntemi Borsa İstanbul’da İşlem Gören Çimento Firmaları Üzerine Ampirik Bir Uygulama. Eskişehir Osmangazi Üniversitesi İİBF Dergisi,9(2),169-182.
  • Yüreğir O.H., Nakıboğlu G., Performans Ölçümü ve Ölçüm Sistemleri: Genel Bir Bakış.Ç.Ü.Sosyal Bilimler Enstitüsü Dergisi,16(2),553.
  • www.kap.gov.tr, Erişim Tarihi:19.09.2016.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TFRS/TFRS_5.pdf, Erişim Tarihi:04.03.2015.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TMS/TMS16.pdf , Erişim Tarihi:04.03.2015.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TMS/TMS38.pdf , Erişim Tarihi:04.03.2015.
  • http://www.kgk.gov.tr/contents/files/TFRS_2015/TMS/TMS40.pdf, Erişim Tarihi:04.03.2015.
There are 25 citations in total.

Details

Journal Section Articles
Authors

Huseyin Mert This is me

Sema Erkiran Demir This is me

Publication Date December 31, 2016
Published in Issue Year 2016 Volume: 3 Issue: 4

Cite

APA Mert, H., & Erkiran Demir, S. (2016). EFFECTS OF DEPRECIATION METHODS ON PERFORMANCE MEASUREMENT METHODS: A CASE OF ENERGY SECTOR. Journal of Economics Finance and Accounting, 3(4), 330-344. https://doi.org/10.17261/Pressacademia.2016.347

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