Browsing by Subject "Corporations--Turkey--Accounting."

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Open Access
Confidential revenue and profit forecasts by management and financial analysts : evidence from Turkey
(1992) Seçilmiş, Kahraman Büge
This study is a replication of a study conducted by Schreuder and Klaassen in the Netherlands, in 1984 called "Confidential Revenue and Profit Forecasts by Management and Financial Analysts". The aim of the study is to examine the accuracy of management's internal forecast of revenue and profit, taking analysts' forecasts as a standard of comparison for Turkey. This research design differs from the previous research in that (a) it is based on confidential instead of published data, (b) it includes revenue and profit data, and (c); it investigates the extent to which the forecasters themselves, were surprised by the actual outcomes. For the study, management and analysts' forecasts on 18 companies in Istanbul Stock Exchange were collected. The findings show that managers perform slightly but not significantly better than the analysts. The errors rare close but smaller than the Schreuder and Klaassen' s study, 'and the difference between the revenue and profit forecasts' error is small whereas it is much higher for world revenue and prof'it forecast errors difference.
Open Access
Intersectoral investigation of cash flow patterns
(1995) Serttas, Mehmet Volkan
Companies from two different industries, cement and textile, are selected and analyzed by means o f cash flow patterns in order to find out whether there exists a similarity between the two sectors. Investigation of the intersectoral cash flow patterns of the two domestic industries constitutes 26 companies whose securities are currently traded in Istanbul Stock Exchange Market ( ISE ). 13 out o f 26 companies are belong to cement sector and rest are belong to textile sector. Data are analyzed and calculated in spreadsheet program that is provided by ISE. The type o f the files in the spreadsheet program is Lotus 123 Wk. Data covers the period 1990 - 1994 ( annually). These cash flow patterns are searched using the subsections o f cash flow from operational, cash flow from investment, and cash flow from financing activities. Although the result of this study shows that there is not a similarity between the two industries in terms o f cash flow patterns, it gives an insight for the financial and economical prospects o f cement and textile industries.