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

Year 2017, , 986 - 999, 30.06.2017

Huseyin Mert Hasan Melih Eren

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

Abstract

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. 

Keywords

Standard warranty Extended warranty International Financial Reporting Standards

References

  • Ernst&Young. (June 2014). A closer look at the new revenue recognition standard. EY. 03 06, 2017 tarihinde http://www.ey.com/Publication/vwLUAssets/Applying_IFRS:_A_closer_look_at_the_new_revenue_recognition_standard_(June_2014)/$FI LE/Applying-Rev-June2014.pdf adresinden alındı
  • Garanti Belgesi Yönetmeliği. (13 Haziran 2014). Resmi Gazete Sayı 29029.
  • International Accounting Standards Board. (2001). IAS 18 Revenue.
  • International Accounting Standards Board. (2001). Provisions, Contingent Liabilities and Contingent Assets.
  • International Accounting Standards Board. (2014). IFRS 15 Revenue from Contracts with Customers.
  • KPMG. (May 2016). Revenue Issues In-Depth Second edition IFRS and USGAAP. KPMG IFRG Limited.
  • Philip Kotler, G. A. (2012). Principles of Marketing (14E b.). New Jersey: Pearson Education, Inc.
  • PricewaterhouseCoopers. (2016). Revenue from contracts with customers. United States: PricewaterhouseCoopers LLP. 3 4, 2017 tarihinde http://www.pwc.com/gx/en/audit-services/ifrs/publications/irfs-15-revenue-recognition.pdf adresinden alındı
  • Rabia Aktaş, İ. D. (2017). Yeni Hasılat Standardı UFRS 15’e Göre Hasılatın Muhasebeleştirilmesi:Çok Unsurlu Sözleşmeler ve Sözleşme Değişiklikleri . Muhasebe ve Finansman Dergisi , 27-50.
  • Tüketicinin Korunması Hakkında Kanun, Kanun No: 6502. (28 Kasım 2013). Resmi Gazete Sayı: 28835.

Year 2017, , 986 - 999, 30.06.2017

Huseyin Mert Hasan Melih Eren

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

Abstract

References

  • Ernst&Young. (June 2014). A closer look at the new revenue recognition standard. EY. 03 06, 2017 tarihinde http://www.ey.com/Publication/vwLUAssets/Applying_IFRS:_A_closer_look_at_the_new_revenue_recognition_standard_(June_2014)/$FI LE/Applying-Rev-June2014.pdf adresinden alındı
  • Garanti Belgesi Yönetmeliği. (13 Haziran 2014). Resmi Gazete Sayı 29029.
  • International Accounting Standards Board. (2001). IAS 18 Revenue.
  • International Accounting Standards Board. (2001). Provisions, Contingent Liabilities and Contingent Assets.
  • International Accounting Standards Board. (2014). IFRS 15 Revenue from Contracts with Customers.
  • KPMG. (May 2016). Revenue Issues In-Depth Second edition IFRS and USGAAP. KPMG IFRG Limited.
  • Philip Kotler, G. A. (2012). Principles of Marketing (14E b.). New Jersey: Pearson Education, Inc.
  • PricewaterhouseCoopers. (2016). Revenue from contracts with customers. United States: PricewaterhouseCoopers LLP. 3 4, 2017 tarihinde http://www.pwc.com/gx/en/audit-services/ifrs/publications/irfs-15-revenue-recognition.pdf adresinden alındı
  • Rabia Aktaş, İ. D. (2017). Yeni Hasılat Standardı UFRS 15’e Göre Hasılatın Muhasebeleştirilmesi:Çok Unsurlu Sözleşmeler ve Sözleşme Değişiklikleri . Muhasebe ve Finansman Dergisi , 27-50.
  • Tüketicinin Korunması Hakkında Kanun, Kanun No: 6502. (28 Kasım 2013). Resmi Gazete Sayı: 28835.
There are 10 citations in total.

Details

Journal Section Articles
Authors

Huseyin Mert This is me

Hasan Melih Eren This is me

Publication Date June 30, 2017
Published in Issue Year 2017

Cite

APA Mert, H., & Eren, H. M. (2017). MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE. PressAcademia Procedia, 3(1), 986-999. https://doi.org/10.17261/Pressacademia.2017.679
AMA Mert H, Eren HM. MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE. PAP. June 2017;3(1):986-999. doi:10.17261/Pressacademia.2017.679
Chicago Mert, Huseyin, and Hasan Melih Eren. “MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE”. PressAcademia Procedia 3, no. 1 (June 2017): 986-99. https://doi.org/10.17261/Pressacademia.2017.679.
EndNote Mert H, Eren HM (June 1, 2017) MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE. PressAcademia Procedia 3 1 986–999.
IEEE H. Mert and H. M. Eren, “MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE”, PAP, vol. 3, no. 1, pp. 986–999, 2017, doi: 10.17261/Pressacademia.2017.679.
ISNAD Mert, Huseyin - Eren, Hasan Melih. “MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE”. PressAcademia Procedia 3/1 (June 2017), 986-999. https://doi.org/10.17261/Pressacademia.2017.679.
JAMA Mert H, Eren HM. MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE. PAP. 2017;3:986–999.
MLA Mert, Huseyin and Hasan Melih Eren. “MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE”. PressAcademia Procedia, vol. 3, no. 1, 2017, pp. 986-99, doi:10.17261/Pressacademia.2017.679.
Vancouver Mert H, Eren HM. MEASUREMENT OF STANDARD AND EXTENDED WARRANTY AND RECOMMENDATIONS TO ISSUES ENCOUNTERED IN PRACTICE. PAP. 2017;3(1):986-99.

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