Akademik Veri Yönetim Sistemi
3rd INTERNATIONAL 5 OCAK SOCIAL and HUMANITIES SCIENCES CONGRESS, Adana, Türkiye, 4 - 05 Ocak 2022, ss.703-705
Guarantee; It can be defined as a assurance given to buyers in case of a decrease in the quality or performance of the products sold by the businesses other than user errors. Businesses are obliged to set aside provisions in the liabilities section of the financial position statement in accordance with the precautionary principle, as there is a possibility of incurring a future expense related to the repair of the products they sell to their customers under warranty. In terms of the uniform accounting system, the provisions set aside for these guaranteed sales are in the feature of "not legally acceptable expenses". However, expenses will be incurred in cases where the products are repaired or replaced with a new one under warranty. In this case, the mentioned provision amount can be recorded in the account of debt and expense provisions and can be deducted from the tax base. According to Turkish Accounting and Financial Reporting Standards (TAS/TFRS), the calculation and reporting of the provisions set aside under the guarantee differs depending on the customer's option to purchase the guarantee separately. That is, if the customer has the option to purchase the guarantee separately, standard of “TFRS 15 Revenue from Contracts with Customers” applies. However, if the customer does not have the option to purchase the guarantee separately, it must be accounted according to the "expected value method" in TAS 37 Provisions, Contingent Liabilities and Contingent Assets. It is seen that the expected value method is common in Large And Medium Enterprise Financial
Reporting Standards (LME FRS), as in TAS/TFRS. The expected value method in LME FRS is discussed in Article 19/11,12 in Section 19 Provisions, Contingent Liabilities and Contingent Assets. Businesses offer various campaigns to their customers in order to maintain their current sales level, increase their sales or compete with rival businesses. In the uniform accounting system, it is seen that the gift amounts related to the delivery of free or discounted goods distributed to the customers in terms of gift campaigns are generally recorded as marketing expenses by using the other debt and expense provisions account or deducted from the sales income. However, if there are gifts and promotions to be distributed in the next year, it should make provision for the portion that related to this year's revenue in the lialibilities. In case of being award credits giving the right to purchase at a discount in LME FRS, award credits are recorded separately from the initial sales transaction. Award credits are reporting as revenue, as of the periods they are used. In TAS/TFRS, there are two situations regarding gift campaigns. The first of these; If the payment to the customer is not made in return of different goods or services that the customer has transferred to the business, it is accounted for as a reduction in revenue. In the second case, if the payable value to the customer is a payment for different goods or services received from the customer, the business should account for the purchase of goods or services in a similar way to other purchases from the business supplier.