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.
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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.
Details
| Journal Section | Articles |
|---|---|
| Authors | |
| Publication Date | June 30, 2017 |
| Published in Issue | Year 2017 Volume: 3 Issue: 1 |
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