Sermaye piyasası mevzuatına göre mali tablo kalemlerinin değerlemesi ve değerleme esaslarının diğer mevzuat ve düzenlemelerde yer alan esaslarla karşılaştırılması
Measurement of items of financial statements according to capital market regulations and comparison of measurement bases with those in other regulations
- Tez No: 82406
- Danışmanlar: DOÇ. DR. NURAN CÖMERT DOYRANGÖL
- Tez Türü: Yüksek Lisans
- Konular: Bankacılık, Ekonomi, Banking, Economics
- Anahtar Kelimeler: Belirtilmemiş.
- Yıl: 1999
- Dil: Türkçe
- Üniversite: Marmara Üniversitesi
- Enstitü: Bankacılık ve Sigortacılık Enstitüsü
- Ana Bilim Dalı: Sermaye Piyasası ve Borsa Ana Bilim Dalı
- Bilim Dalı: Belirtilmemiş.
- Sayfa Sayısı: 201
Özet
Özet yok.
Özet (Çeviri)
SUMMARY During the history of human being, people needed to determine values of goods and services in order to make comparison. Hovvever, the values assigned by people differs according to their points of view, needs, psychological, social and economic environments. That is to say, measurement of values of goods and services is subjective process. Therefore, values of those needs may be quite different for each persons. This subjectivity causes difficulties determination of values that can be accepted by everybody. On the other hand, to assign values for goods and services is very important for the majority of people. Thus, generally accepted measurement bases are required. For instance, the value of an business enterprise is to be known by the Government, personnel, unions, owners, suppliers, banks, customers, competitors of that entity. Each of them have different expectations, needs and points of view. The measurement can be made for the past ör the future. For the measurement has two phases. The first öne is the determination of the quantity economic values and the other step is to express the value in terms of a commonly used currency. in order to ensure assessment and comparison of finical statements of different business entities by third parties, common measurement bases are needed. These are generally accepted accounting principles, norms determined by the Government, standards of different international organizations and legal regulations. Turkish Commercial Code, Code of Obligations, Tax Pröcedural 202Code, decrees issued of Capital Market Board, Banking Code and Insurance Control Code are the examples of the legal regulations. The measurement basis used for different accounting systems are as follows; -Cost Value -Precedent Value -Net Realizable Value -Replacement Value -Market Value -Disposable Value -Nominal Value -Book Value -Tax Value -Market Value -Purchase Value The valuation principles according to decrees issued of Capital Market Board, Turkish Commercial Code, Tax Procedural Code and International Accounting Standards can be summarized below; 203The valuation principles in Capital Market legislation were issued to prevent presentation of financial statements in a misleading manner and to maintain comparability of them in order to protect benefits of third parties who have ör may have relationship with the companies vvhich are subject to this legislation. Therefore, the valuation principles in this legislation aims at prevention of preparation of financial statements better ör worse than the real position of companies. in order to meet this purpose, the obligatory and optional valuation principles have been determined, explanation of the valuation methods and their effects on financial statements as notes are required. Measurement is made for each asset, liability and equity item separately. Hovvever, similar items can be valued ali together. The aim of Tax Procedural Code is to guarantee tax collection of the government. Thus, it determines valuation standards vvhich are necessary to prevent understatement of profit in financial statements. That is to say, expenses are not to be overstated while revenues are not to be understated. in other words, Tax Procedural Code aims at presentation of financial statements that indicates real financial position of companies, but ensuring maximum tax assessment. in legislation about capital market, rediscount of receivables and payables, setting of provision for doubtful receivables and employee termination benefits are required for the reflection of results of operations of companies on the financial statements, but in Tax Procedural Code the revenues and expenses mentioned above are booked on the basis of collection ör payment. Moreover, the measurement basis are precisely mentioned and more objective compared to other three accounting systems. Measurement can be made in two ways. These are determination and assessment. If there is a directly related evidence, the determination method is applied, othenvise assessment is required. Purchase price of an assets is an example of the first method; The 204precedent value of an asset which does not have a real purchase ör sales value is an assessment. The measurement bases in Turkish Commercial Code is protects interests of third parties as those in Capital Board legislation. However, Turkish Commercial Code, does not have detailed measurement bases. in addition, the measurement bases for corporations and limited companies are more detailed than those for partnerships. Since, there is a principle of unlimited liability for owners of corporations and limited companies, but limited liability for owners of participations. These standards are mostly limitations for overstatement of financial statements. The measurement standards are not precisely mentioned, and usually it is possible to determine amounts of economic values by personal judgment. International Accounting Standards issued by International Accounting Standards Committee. The aim of these standers is the preparation of financial statements that are internationally comparable. On the other hand, these standards are not obligatory as the ones issued by Capital Market Board. These standards are applied by many firms in different countries since that they are generally accepted. Also, there are alternative methods in these standards in order to provide possibility to be chosen the most suitable ones by firms. in order to guide to companies, measurement bases were explained more detailed compared to Capital Market regulations. The assumptions and the accounting policies which constitute the basis of these standards are applied in Capital Market regulations, too. These assumptions are going concern, comparability and accrual basis. in going concern principle it is assumed that life of a business entity is unlimited. Comparability assumption means that accounting methods should not change f rom öne period to another. According to accrual basis income and expenses are to be recorded in the period in which they relate. The accounting policies mentioned above are prudence, substance 'ipvör form and 205materiality. Prudence is presentation of negative effects of uncertainties in financial statement, on the other hand explaining positive effects in notes. Substance över form is to account for and present transactions and other events in accordance with their substance and economic reality not merely their legal form. Materiality is to explain ali materially important values in notes. in addition, the measurement bases used in these two regulations are similar. Essentially, both of accounting systems aim at financial statement reflecting real financial position of companies. in International Accounting Standards, there is a necessity of preparation of consolidated financial statements, fixed assets provided by financial leasing are booked as assets and in inflationary economies, financial statements are prepared under inflation accounting. Hovvever, these accounting policies are not applied by decrees issued by Capital Market Board. These are the main differences between the two accounting policies. As it can be seen, measurement basis in Capital Market regulations have different purposes than the ones in Turkish Commercial Code, Tax Procedural Code and International Accounting Standards. Application of four different accounting systems means, preparation of four different sets financial statements separately. Preparation of four different sets of financial statements is against the principle of unity of financial statements and increases the work load of companies. The formation of accounting Standards which are accepted by ali of authorities of the country can prevent this problems. in highly developed countries such as the United States of America and the United Kingdom, the accounting Standards issued by the associations of accounting Standards are generally accepted in the those countries. Reaching of accountancy business to the level of highly developed countries is possible only by issuance new 206
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