{"id":5109,"date":"2021-03-23T14:55:31","date_gmt":"2021-03-23T14:55:31","guid":{"rendered":"https:\/\/karardenetim.com\/?p=5109"},"modified":"2021-03-29T07:36:36","modified_gmt":"2021-03-29T07:36:36","slug":"halka-acik-sirketlerde-kapsamli-kar-analizi","status":"publish","type":"post","link":"https:\/\/karardenetim.com\/halka-acik-sirketlerde-kapsamli-kar-analizi\/","title":{"rendered":"Halka A\u00e7\u0131k \u015eirketlerde Kapsaml\u0131 Kar Analizi"},"content":{"rendered":"

\u00d6zkaynak karl\u0131\u011f\u0131 (ROE) ve varl\u0131k karl\u0131\u011f\u0131 (ROA) i\u015fletmeler i\u00e7in temel performans g\u00f6stergeleridir. 2009 y\u0131l\u0131nda uygulamaya giren IAS 1 Finansal Tablolar\u0131n Sunulu\u015fu Standard\u0131 ile birlikte, toplam kapsaml\u0131 kar\u0131n raporlanmas\u0131 zorunlu hale gelmi\u015ftir. Standard\u0131n getirdi\u011fi yeni kar kavram\u0131, performans \u00f6l\u00e7\u00fclerine de yeni bir bak\u0131\u015f\u0131 zorunlu k\u0131lm\u0131\u015ft\u0131r. ROE ve ROA\u2019n\u0131n hesaplanmas\u0131nda, kapsaml\u0131 kar\u0131n da dikkate al\u0131nmas\u0131 iki yeni performans \u00f6l\u00e7\u00fcs\u00fcn\u00fc g\u00fcndeme getirmi\u015ftir. ROE2 ve ROA2 olarak adland\u0131rabilece\u011fimiz bu \u00f6l\u00e7\u00fclerin, \u015firket performans\u0131n\u0131 g\u00f6sterip g\u00f6stermedi\u011fi ara\u015ft\u0131rmalara konu olmaya ba\u015flam\u0131\u015ft\u0131r. Yurtd\u0131\u015f\u0131nda yap\u0131lan bilimsel \u00e7al\u0131\u015fmalar, ROE 2 ve ROA2\u2019nin, \u015firket performans\u0131n\u0131 d\u00f6nem kar\u0131na g\u00f6re daha iyi a\u00e7\u0131klad\u0131\u011f\u0131 y\u00f6n\u00fcndedir. \u00dclkemizde, di\u011fer kapsaml\u0131 gelirin \u015firket performans\u0131 \u00fczerinde etkisi g\u00f6sterebilmek i\u00e7in 220 \u015firketin son \u00fc\u00e7 y\u0131la ili\u015fkin verileri analiz edildi\u011finde a\u015fa\u011f\u0131daki sonu\u00e7lar ortaya \u00e7\u0131kmaktad\u0131r. Tablo 1\u2019de g\u00f6r\u00fcld\u00fc\u011f\u00fc gibi, di\u011fer kapsaml\u0131 kar, ROA 1\u2019i (varl\u0131k karl\u0131l\u0131\u011f\u0131n\u0131) yakla\u015f\u0131k % 1,3 artt\u0131rmaktad\u0131r. Bu da d\u00f6nem kar\u0131n\u0131n yakla\u015f\u0131k % 35\u2019i oran\u0131nda bir tutar\u0131 ifade etmektedir. Di\u011fer kapsaml\u0131 kar\u0131n en k\u00fc\u00e7\u00fck oldu\u011fu sekt\u00f6r teknoloji sekt\u00f6r\u00fc olarak g\u00f6r\u00fclmektedir.<\/p>\n

Tablo 1: Karl\u0131l\u0131k Oranlar\u0131<\/strong><\/p>\n\n\n\n\n\n\n\n\n
<\/td>\nOrtalama<\/strong><\/td>\nHizmet<\/strong><\/td>\nSinai<\/strong><\/td>\nTeknoloji<\/strong><\/td>\n<\/tr>\n
ROA1<\/strong><\/td>\n3,70%<\/td>\n0,03%<\/td>\n4,50%<\/td>\n6,50%<\/td>\n<\/tr>\n
OCI<\/strong><\/td>\n1,30%<\/td>\n1,20%<\/td>\n1,50%<\/td>\n1,70%<\/td>\n<\/tr>\n
ROA2<\/strong><\/td>\n5%<\/td>\n1,23%<\/td>\n6%<\/td>\n8,20%<\/td>\n<\/tr>\n
Valid N (listwise)<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Akt\u00fceryal kazan\u00e7lar, \u015firketlerde, di\u011fer kapsaml\u0131 gelirin temel unsuru niteli\u011findedir. Bu durum, \u015firketlerin tahminlerinde y\u0131llar itibariyle b\u00fcy\u00fck oranda yan\u0131ld\u0131\u011f\u0131na i\u015faret etmektedir.Tablo 2\u2019ye bak\u0131ld\u0131\u011f\u0131nda, di\u011fer kapsaml\u0131 gelirin \u00fc\u00e7 ana unsurdan olu\u015ftu\u011fu g\u00f6r\u00fclmektedir. Bunlar, akt\u00fceryal kazan\u00e7 veya kay\u0131plar (% 45,5), Yabanc\u0131 para \u00e7evrim farklar\u0131 (% 14,4) ve maddi duran varl\u0131k de\u011ferleme farklar\u0131d\u0131r (% 13,4). Akt\u00fceryal kazan\u00e7 veya kay\u0131p sekt\u00f6rler aras\u0131nda b\u00fcy\u00fck farkl\u0131l\u0131k g\u00f6stermemektedir Ancak, maddi duran varl\u0131k de\u011ferleme farklar, sekt\u00f6rlerin \u00f6zelliklerine g\u00f6re b\u00fcy\u00fck oranda farkl\u0131la\u015fmaktad\u0131r. Teknoloji sekt\u00f6r\u00fcnde de\u011ferleme art\u0131\u015flar\u0131 % 3,6 iken, Sinai sekt\u00f6r\u00fcnde oran % 17,5\u2019ya \u00e7\u0131kmaktad\u0131r.<\/p>\n

Tablo 2: Di\u011fer Kapsaml\u0131 Gelir Unsurlar\u0131<\/strong><\/p>\n

 <\/p>\n\n\n\n\n\n\n\n
<\/td>\nOrtalama<\/strong><\/td>\nHizmet<\/strong><\/td>\nSinai<\/strong><\/td>\nTeknoloji<\/strong><\/td>\n<\/tr>\n
MDV De\u011ferleme<\/strong><\/td>\n13,40%<\/td>\n10%<\/td>\n17,50%<\/td>\n3,60%<\/td>\n<\/tr>\n
Akt\u00fceryal Farklar<\/strong><\/td>\n45,50%<\/td>\n48,60%<\/td>\n48,60%<\/td>\n46%<\/td>\n<\/tr>\n
Yabanc\u0131 Para Farklar\u0131<\/strong><\/td>\n14,40%<\/td>\n17%<\/td>\n12%<\/td>\n39%<\/td>\n<\/tr>\n
Di\u011fer<\/strong><\/td>\n26,70%<\/td>\n24,40%<\/td>\n21,90%<\/td>\n11,40%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

\u00d6zkaynak karl\u0131\u011f\u0131 (ROE) ve varl\u0131k karl\u0131\u011f\u0131 (ROA) i\u015fletmeler i\u00e7in temel performans g\u00f6stergeleridir. 2009 y\u0131l\u0131nda uygulamaya giren IAS 1 Finansal Tablolar\u0131n Sunulu\u015fu…<\/p>\n","protected":false},"author":2,"featured_media":4967,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[8],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/posts\/5109"}],"collection":[{"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/comments?post=5109"}],"version-history":[{"count":0,"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/posts\/5109\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/media\/4967"}],"wp:attachment":[{"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/media?parent=5109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/categories?post=5109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/karardenetim.com\/wp-json\/wp\/v2\/tags?post=5109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}