ACCOUNTING OF GUARANTEES WITHIN THE FRAMEWORK OF ACCOUNTING STANDARDS

Today's businesses attach importance to warranty services to fulfill their legal responsibilities under consumer rights and to gain advantage in a global competitive environment with a customer-focused approach. Guaranteeing the sale of a good or service is a common occurrence for today's businesses, and the qualities of warranty services may vary according to sectoral practices, product qualifications and contractual conditions. Some guarantees ensure that only one product will function, and some guarantees provide a service to the customer, in addition to providing the customer that the product conforms to agreed specifications. For this reason, accounting of guarantees may vary depending on the nature of the guarantee service. In this study, it is aimed to give information about the accounting of warranty services within the framework of IAS 37 Provisions, Contingent Liabilities and Contingent Assets Standard and IFRS 15 Revenue Standards. For this purpose, designed examples of accounting for guarantees are included in the stud