Research Article
BibTex RIS Cite

Alacak Karşılıklarını Belirleyen Faktörlerin İncelenmesi: Alacak Yönetimi, Muhafazakârlık ve Kazanç Yönetiminin Etkileri

Year 2023, , 97 - 130, 16.10.2023
https://doi.org/10.33203/mfy.1290589

Abstract

Bu çalışma Borsa İstanbul şirketlerinin finansal tablolarında raporlanan alacak karşılıklarının karakteristiğini belirlemeyi amaçlamaktadır. Bunun için alacak yönetiminin etkisi ve diğer finansal faktörler kontrol edilerek muhafazakâr raporlama ve kazanç yönetiminin etkisi incelenmiştir. Analiz bulgularına göre alacak karşılıklarının esas belirleyicisi alacak politikaları ve şirketin finansal durumudur. Alacak karşılıklarının kazancı kayda değer ölçüde etkilediği gözlenmiştir. Buna karşın bu tahakkukların kazanç hedeflerine ulaşmak için kullanıldığı söylenemez. Toplam ihtiyari tahakkukların artık karşılıklara etkisi alacakların kazanç yönetiminin bir aracı olduğu görüşünü desteklemektedir. Analiz firmalarında alacaklar için karşılık ayırma ve kayıttan silme prosedürünün etkin olmadığı söylenebilir. Bulgular muhafazakârlığın ayrılan alacak karşılığını artırdığına işaret etmektedir.

References

  • Ahmed, A.S. & Duellman, S. (2007). Accounting Conservatism and Board of Director Characteristics: An Empirical Analysis. Journal of Accounting and Economics, 43(2-3), 411-437.
  • Arens, A., Elder, R. & Beasley, M. (2012). Auditing and Assurance Services: An Integrated Approach (14th ed), Boston: Pearson.
  • Ball, R. & Shivakumar, L. (2006). The Role of Accruals in Asymmetrically Timely Gain and Loss Recognition. Journal of Accounting Research, 44, 207-242.
  • Basu, S. (1997). The Conservatism Principle and the Asymmetric Timeliness of Earnings. Journal of Accounting and Economics, 24(1), 3-37.
  • Beaver, W. H. & Ryan, S. G. (2000). Biases and Lags in Book Value and Their Effects on the Ability of the Book-to-Market Ratio to Predict Book Return on Equity. Journal of Accounting Research, 38(1), 127–148.
  • Bellikli, U. & Daştan, A. (2021). Accounting Conservatism and Intellectual Capital: Evidence From Turkey with Comparison Models and Sectors. Ege Academic Review, 21(4), 333-355.
  • Bryan, T. G., McKnight, M. A., & Houmes, R. (2021). Accounting Conservatism or Earnings Management: A Study of the Allowance for Doubtful Accounts. Corporate Ownership & Control, 18(3), 175-190.
  • Burgstahler, D. & Eames M. (2006). Management of Earnings and Analysts’ Forecasts to Achieve Zero and Small Positive Earnings Surprises. Journal of Business Finance & Accounting, 33(5-6), 633-652.
  • Cassell, C.A., Myers, L.A., & Seidel, T.A. (2015). Disclosure Transparency About Activity in Valuation Allowance and Reserve Accounts and Accruals-based Earnings Management. Accounting, Organizations, and Society, 46: 23-38.
  • Christodoulou-Volos, C.N. (2020). Allowance for Doubtful Accounts and Earning Management: An Empirical Study of Chinese Listed Companies. Journal of Finance and Investment Analysis, 9(3), 51-69.
  • Cui, L., Kent, P., Kim, S. & Li, S. (2021). Accounting Conservatism and Firm Performance During the COVID-19 Pandemic. Accounting & Finance, 61: 5543-5579.
  • DeAngelo, L.E. (1981). Auditor Size and Audit Quality. Journal of Accounting and Economics, 3(3), 183-199.
  • DeAngelo, L.E. (1988). Discussion of Evidence of Earnings Management from the Provision for Bad Debts. Journal of Accounting Research, 26, 32-40.
  • Dechow, P., Sloan, R. & Sweeney, A. (1995). Detecting Earnings Management. The Accounting Review, 70(2), 193–225.
  • Degeorge, F., Patel, J., & Zeckhauser, R. (1999). Earnings Management to Exceed Thresholds. Journal of Business, 72(1), 1-33.
  • Feltham, G.A. & Ohlson, J.A. (1995). Valuation and Clean Surplus Accounting for Operating and Financial Activities. Contemporary Accounting Research, 11(2), 689-731.
  • Francis, J. R. & Krishnan, J. (1999). Accounting Accruals and Auditor Reporting Conservatism. Contemporary Accounting Research, 16(1), 135-165.
  • Frank, M.M. & Rego, S.O. (2006). Do Managers Use the Valuation Allowance Account to Manage Earnings Around Certain Earnings Targets? Journal of American Taxation Association, 28(1), 43-65.
  • Ghazali, A.W., Shafie N.A. & Sanusi Z.M. (2015). Earnings Management: An Analysis of Opportunistic Behaviour, Monitoring Mechanism and Financial Distress. Procedia Economics and Finance, 28, 190-201.
  • Givoly, D. & Hayn, C. (2000). The Changing Time-Series Properties of Earnings, Cash Flows and Accruals: Has Financial Reporting Become More Conservative? Journal of Accounting and Economics, 29, 287-320.
  • Guay, W. & Verrecchia, R.E. (2006). Discussion of an Economic Framework for Conservative Accounting and Bushman and Piotroski (2006). Journal of Accounting and Economics, 42, 149-165.
  • Habib, A., Uddin Bhuiyan, B. & Islam, A. (2013). Financial Distress, Earnings Management and Market Pricing of Accruals During the Global Financial Crisis. Managerial Finance, 39(2), 155-180.
  • Jackson, S.B. & Liu, X. (2010). The Allowance for Uncollectible Accounts, Conservatism, and Earnings Management. Journal of Accounting Research, 48(3), 565-601
  • Jaggi, B. & Lee, P. (2002). Earnings Management Response to Debt Covenant Violations and Debt Restructuring. Journal of Accounting, Auditing & Finance, 17(4), 295-324.
  • Jones, J. (1991). Earnings Management During Import Relief Investigations. Journal of Accounting Research, 29(2), 193-228.
  • Joyner, D. T. (2011). A Neural Network Approach to Estimating the Allowance for Bad Debt. [Doctoral Dissertation, Virginia Commonwealth University]. Richmond, Virginia.
  • Kasznik, R. (1999). On the Association Between Voluntary Disclosure and Earnings Management. Journal of Accounting Research, 37(1), 57-81.
  • Khan, M. & Watts, R.L. (2009). Estimation and Empirical Properties of a Firm-Year Measure of Accounting Conservatism. Journal of Accounting and Economics, 48, 132-150.
  • Kinney, W. & Martin, R. (1994). Does Auditing Reduce Bias in Financial Reporting? A Review of Audit-Related Adjustment Studies. Auditing: A Journal of Practice and Theory, 13, 149-156.
  • LaFond, R. & Watts R.L. (2008). The Information Role of Conservatism. The Accounting Review, 83, 447–478.
  • Lee, H. & Choi, W. (2016). Allowance for Uncollectible Accounts as a Tool for Earnings Management: Evidence From South Korea. International Journal of Accounting and Information Management, 24, 162-184.
  • Lennox, C. S. (1999). Audit Quality and Auditor Size: An Evaluation of Reputation and Deep Pockets Hypotheses. Journal of Business Finance & Accounting, 26(7‐8), 779-805.
  • Marquardt, C. A. & Wiedman, C. I. (2004). How Are Earnings Managed? An Examination of Specific Accruals. Contemporary Accounting Research, 21(2), 461-491.
  • McNichols, M. & Wilson, G. P. (1988). Evidence of Earnings Management From the Provision for Bad Debts. Journal of Accounting Research, 26, 1-31.
  • Molina, C. A. & Preve, L. A. (2009). Trade Receivables Policy of Distressed Firms and Its Effect on the Costs of Financial Distress. Financial Management, 38(3), 663-686.
  • Nelson, M., Elliott, J. & Tarpley, R. (2002). Evidence from Auditors about Managers’ and Auditors’ Earnings Management Decisions. The Accounting Review, 77, 175-202.
  • Onay, A. & Benligiray, S. (2021). Denetçi Görüşlerinin ve Denetim Kalitesinin Kazanç Yönetimi ile İlişkisi: Borsa İstanbul Şirketleri Üzerinde Bir Araştırma. In M.N. Seyman, C. Közkurt & A. Dalcalı (Eds.), ISSRIS'21 Full Papers Book (pp. 2612-2630), Bandırma.
  • Ozili, P. K. (2017). Bank Earnings Smoothing, Audit Quality and Procyclicality in Africa: The Case of Loan Loss Provisions. Review of Accounting and Finance, 16, 142–161.
  • Palmrose, Z. (1988). An Analysis of Auditor Litigation and Audit Service Quality. The Accounting Review, 63(1), 55-73.
  • Paul, S. & Boden, R. (2008). The Secret Life of UK Trade Credit Supply: Setting a New Research Agenda. The British Accounting Review, 40, 272-281.
  • Rippy, J.A. (2017). Is the Character of SEC Comment Letters Relevant to Recipients? Empirical Evidence of Constraining Allowance for Doubtful Accounts. [Doctoral Dissertation, University of Alabama]. Tuscaloosa, Alabama.
  • Robb, S.W.G. (1998). The Effect of Analysts' Forecasts on Earnings Management in Financial Institutions. Journal of Financial Research, 21, 315-331.
  • Saraç, T. B. , İskenderoğlu, Ö. & Akdağ, S. (2016). Yerli ve Yabancı Yatırımcılara Ait Risk İştahlarının İncelenmesi: Türkiye Örneği. Sosyoekonomi, 24(30), 29-44.
  • Shumway, T. (2001). Forecasting Bankruptcy More Accurately: A Simple Hazard Model. The Journal of Business, 74(1), 101-124.
  • Tsipouridou, M. & Spathis, C. (2012). Earnings Management and the Role of Auditors in an Unusual IFRS Context: The Case of Greece. Journal of International Accounting, Auditing and Taxation, 21(1), 62-78.
  • Wang, R. Z., Hogartaigh, C. O. & Zijl, T. V. (2008). Measures of Accounting Conservatism: A Construct Validity Perspective. Journal of Accounting Literature, 28, 1-60.

Examination of Factors Determining Bad Debt Provisions: Effects of Receivables Management, Conservatism and Earnings Management

Year 2023, , 97 - 130, 16.10.2023
https://doi.org/10.33203/mfy.1290589

Abstract

This paper aims to identify the characteristics of the provision for bad debts reported in the financial statements of firms listed on Borsa Istanbul. For this purpose, the effects of conservative reporting and earnings management are examined by controlling the effect of receivables management and other financial factors. According to the findings, the receivables policy and the firm’s financial condition are the main determinants of the provisions. The provisions are observed to affect the earnings significantly. However, these accruals can not be argued to be used to achieve earnings targets. The observed effect of total discretionary accruals on residual provisions supports the argument that receivables are used as a tool for earnings management. For the analysis firms, it can be argued that the provisioning and write-off procedures for accounts receivables are ineffective. Findings indicate that conservatism increases the provision for debts.

References

  • Ahmed, A.S. & Duellman, S. (2007). Accounting Conservatism and Board of Director Characteristics: An Empirical Analysis. Journal of Accounting and Economics, 43(2-3), 411-437.
  • Arens, A., Elder, R. & Beasley, M. (2012). Auditing and Assurance Services: An Integrated Approach (14th ed), Boston: Pearson.
  • Ball, R. & Shivakumar, L. (2006). The Role of Accruals in Asymmetrically Timely Gain and Loss Recognition. Journal of Accounting Research, 44, 207-242.
  • Basu, S. (1997). The Conservatism Principle and the Asymmetric Timeliness of Earnings. Journal of Accounting and Economics, 24(1), 3-37.
  • Beaver, W. H. & Ryan, S. G. (2000). Biases and Lags in Book Value and Their Effects on the Ability of the Book-to-Market Ratio to Predict Book Return on Equity. Journal of Accounting Research, 38(1), 127–148.
  • Bellikli, U. & Daştan, A. (2021). Accounting Conservatism and Intellectual Capital: Evidence From Turkey with Comparison Models and Sectors. Ege Academic Review, 21(4), 333-355.
  • Bryan, T. G., McKnight, M. A., & Houmes, R. (2021). Accounting Conservatism or Earnings Management: A Study of the Allowance for Doubtful Accounts. Corporate Ownership & Control, 18(3), 175-190.
  • Burgstahler, D. & Eames M. (2006). Management of Earnings and Analysts’ Forecasts to Achieve Zero and Small Positive Earnings Surprises. Journal of Business Finance & Accounting, 33(5-6), 633-652.
  • Cassell, C.A., Myers, L.A., & Seidel, T.A. (2015). Disclosure Transparency About Activity in Valuation Allowance and Reserve Accounts and Accruals-based Earnings Management. Accounting, Organizations, and Society, 46: 23-38.
  • Christodoulou-Volos, C.N. (2020). Allowance for Doubtful Accounts and Earning Management: An Empirical Study of Chinese Listed Companies. Journal of Finance and Investment Analysis, 9(3), 51-69.
  • Cui, L., Kent, P., Kim, S. & Li, S. (2021). Accounting Conservatism and Firm Performance During the COVID-19 Pandemic. Accounting & Finance, 61: 5543-5579.
  • DeAngelo, L.E. (1981). Auditor Size and Audit Quality. Journal of Accounting and Economics, 3(3), 183-199.
  • DeAngelo, L.E. (1988). Discussion of Evidence of Earnings Management from the Provision for Bad Debts. Journal of Accounting Research, 26, 32-40.
  • Dechow, P., Sloan, R. & Sweeney, A. (1995). Detecting Earnings Management. The Accounting Review, 70(2), 193–225.
  • Degeorge, F., Patel, J., & Zeckhauser, R. (1999). Earnings Management to Exceed Thresholds. Journal of Business, 72(1), 1-33.
  • Feltham, G.A. & Ohlson, J.A. (1995). Valuation and Clean Surplus Accounting for Operating and Financial Activities. Contemporary Accounting Research, 11(2), 689-731.
  • Francis, J. R. & Krishnan, J. (1999). Accounting Accruals and Auditor Reporting Conservatism. Contemporary Accounting Research, 16(1), 135-165.
  • Frank, M.M. & Rego, S.O. (2006). Do Managers Use the Valuation Allowance Account to Manage Earnings Around Certain Earnings Targets? Journal of American Taxation Association, 28(1), 43-65.
  • Ghazali, A.W., Shafie N.A. & Sanusi Z.M. (2015). Earnings Management: An Analysis of Opportunistic Behaviour, Monitoring Mechanism and Financial Distress. Procedia Economics and Finance, 28, 190-201.
  • Givoly, D. & Hayn, C. (2000). The Changing Time-Series Properties of Earnings, Cash Flows and Accruals: Has Financial Reporting Become More Conservative? Journal of Accounting and Economics, 29, 287-320.
  • Guay, W. & Verrecchia, R.E. (2006). Discussion of an Economic Framework for Conservative Accounting and Bushman and Piotroski (2006). Journal of Accounting and Economics, 42, 149-165.
  • Habib, A., Uddin Bhuiyan, B. & Islam, A. (2013). Financial Distress, Earnings Management and Market Pricing of Accruals During the Global Financial Crisis. Managerial Finance, 39(2), 155-180.
  • Jackson, S.B. & Liu, X. (2010). The Allowance for Uncollectible Accounts, Conservatism, and Earnings Management. Journal of Accounting Research, 48(3), 565-601
  • Jaggi, B. & Lee, P. (2002). Earnings Management Response to Debt Covenant Violations and Debt Restructuring. Journal of Accounting, Auditing & Finance, 17(4), 295-324.
  • Jones, J. (1991). Earnings Management During Import Relief Investigations. Journal of Accounting Research, 29(2), 193-228.
  • Joyner, D. T. (2011). A Neural Network Approach to Estimating the Allowance for Bad Debt. [Doctoral Dissertation, Virginia Commonwealth University]. Richmond, Virginia.
  • Kasznik, R. (1999). On the Association Between Voluntary Disclosure and Earnings Management. Journal of Accounting Research, 37(1), 57-81.
  • Khan, M. & Watts, R.L. (2009). Estimation and Empirical Properties of a Firm-Year Measure of Accounting Conservatism. Journal of Accounting and Economics, 48, 132-150.
  • Kinney, W. & Martin, R. (1994). Does Auditing Reduce Bias in Financial Reporting? A Review of Audit-Related Adjustment Studies. Auditing: A Journal of Practice and Theory, 13, 149-156.
  • LaFond, R. & Watts R.L. (2008). The Information Role of Conservatism. The Accounting Review, 83, 447–478.
  • Lee, H. & Choi, W. (2016). Allowance for Uncollectible Accounts as a Tool for Earnings Management: Evidence From South Korea. International Journal of Accounting and Information Management, 24, 162-184.
  • Lennox, C. S. (1999). Audit Quality and Auditor Size: An Evaluation of Reputation and Deep Pockets Hypotheses. Journal of Business Finance & Accounting, 26(7‐8), 779-805.
  • Marquardt, C. A. & Wiedman, C. I. (2004). How Are Earnings Managed? An Examination of Specific Accruals. Contemporary Accounting Research, 21(2), 461-491.
  • McNichols, M. & Wilson, G. P. (1988). Evidence of Earnings Management From the Provision for Bad Debts. Journal of Accounting Research, 26, 1-31.
  • Molina, C. A. & Preve, L. A. (2009). Trade Receivables Policy of Distressed Firms and Its Effect on the Costs of Financial Distress. Financial Management, 38(3), 663-686.
  • Nelson, M., Elliott, J. & Tarpley, R. (2002). Evidence from Auditors about Managers’ and Auditors’ Earnings Management Decisions. The Accounting Review, 77, 175-202.
  • Onay, A. & Benligiray, S. (2021). Denetçi Görüşlerinin ve Denetim Kalitesinin Kazanç Yönetimi ile İlişkisi: Borsa İstanbul Şirketleri Üzerinde Bir Araştırma. In M.N. Seyman, C. Közkurt & A. Dalcalı (Eds.), ISSRIS'21 Full Papers Book (pp. 2612-2630), Bandırma.
  • Ozili, P. K. (2017). Bank Earnings Smoothing, Audit Quality and Procyclicality in Africa: The Case of Loan Loss Provisions. Review of Accounting and Finance, 16, 142–161.
  • Palmrose, Z. (1988). An Analysis of Auditor Litigation and Audit Service Quality. The Accounting Review, 63(1), 55-73.
  • Paul, S. & Boden, R. (2008). The Secret Life of UK Trade Credit Supply: Setting a New Research Agenda. The British Accounting Review, 40, 272-281.
  • Rippy, J.A. (2017). Is the Character of SEC Comment Letters Relevant to Recipients? Empirical Evidence of Constraining Allowance for Doubtful Accounts. [Doctoral Dissertation, University of Alabama]. Tuscaloosa, Alabama.
  • Robb, S.W.G. (1998). The Effect of Analysts' Forecasts on Earnings Management in Financial Institutions. Journal of Financial Research, 21, 315-331.
  • Saraç, T. B. , İskenderoğlu, Ö. & Akdağ, S. (2016). Yerli ve Yabancı Yatırımcılara Ait Risk İştahlarının İncelenmesi: Türkiye Örneği. Sosyoekonomi, 24(30), 29-44.
  • Shumway, T. (2001). Forecasting Bankruptcy More Accurately: A Simple Hazard Model. The Journal of Business, 74(1), 101-124.
  • Tsipouridou, M. & Spathis, C. (2012). Earnings Management and the Role of Auditors in an Unusual IFRS Context: The Case of Greece. Journal of International Accounting, Auditing and Taxation, 21(1), 62-78.
  • Wang, R. Z., Hogartaigh, C. O. & Zijl, T. V. (2008). Measures of Accounting Conservatism: A Construct Validity Perspective. Journal of Accounting Literature, 28, 1-60.
There are 46 citations in total.

Details

Primary Language Turkish
Subjects Finance
Journal Section Articles
Authors

Serdar Benligiray 0000-0001-7593-7971

Ahmet Onay 0000-0003-1182-6003

Early Pub Date October 16, 2023
Publication Date October 16, 2023
Submission Date May 1, 2023
Published in Issue Year 2023

Cite

APA Benligiray, S., & Onay, A. (2023). Alacak Karşılıklarını Belirleyen Faktörlerin İncelenmesi: Alacak Yönetimi, Muhafazakârlık ve Kazanç Yönetiminin Etkileri. Maliye Ve Finans Yazıları(120), 97-130. https://doi.org/10.33203/mfy.1290589

Dergi özellikle maliye, finans ve bankacılık alanlarında faaliyet göstermektedir.