Book Review of “The Real Warren Buffett - Managing Capital, Leading People”

This paper reviews and discusses the book titled “The Real Warren Buffett – Managing Capital, Leading People” by James O’Loughlin. The mentioned book details the managerial skills, financial expertise and leadership approach of Warren Buffett. Practical lessons of Warren Buffett are also included in “The Real Warren Buffett – Managing Capital, Leading People” and how he became the second richest man in United States are mentioned

A Research on the Responsibility of Accounting Professionals to Determine and Prevent Accounting Errors and Frauds: Edirne Sample

In this study, the ethical dimensions of accounting professionals related to accounting errors and frauds were examined. Firstly, general and technical information about accounting were provided. Then, some terminology on error, fraud and ethics in accounting were discussed. Study also included recent statistics about accounting errors and fraud as well as presenting a literature review. As the methodology of research, a questionnaire was distributed to 36 accounting professionals residing in Edirne city of Turkey. The collected data were then entered to the SPSS package program for analysis. The study revealed very important results. Accounting professionals think that, accounting chambers do not organize enough seminars/conferences on errors and fraud. They also believe that supervision and disciplinary boards of professional accounting chambers fulfill their responsibilities partially. Attitude of professional accounting chambers in terms of errors, fraud and ethics is considered neither strict nor lenient. But, most accounting professionals are aware of colleagues who had disciplinary penalties. Most important and effective tool to prevent errors and fraud is indicated as external audit, but internal audit and internal control are valued as well. According to accounting professionals, most errors occur due to incorrect data received from clients and as a result of recording. Fraud is generally made in order to get credit from banks and for providing benefits to the organization by not showing the real situation of the firm. Finally, accounting professionals state that being honest, trustworthy and impartial is the basis of accounting profession and accountants must adhere to ethical rules

Image and Reputation of Yalova City: A Study on Yalova University Students

Recently, the image of a country and city has become a core competitive asset for the government and local authorities and this core competitive asset plays a critical role for domestic and foreign tourists, businessmen, residents of the city, neighbouring cities, investors, entrepreneurs and also the university students. Based on the competitive asset of city image and reputation, the perception needs an effort from a marketing perspective in order to improve the strategies for enhancing quality of life. The aim of this research is to evaluate the city image of Yalova from the eye of Yalova university students. For this purpose, image perception of students on the advantages of city, abstract image elements and residents of the city have been investiageted. The data of research have been collected through the questionnaire methodology. This study is run on 200 students as the research sample. In light of the results of the survey, the overall image perception of students about Yalova city and its residents are determined to be at medium level. Location of Yalova has a very positive perception, while intercity transportation, nature and weather conditions have a positive perception. The city is considered as peaceful, safe and clean, but expensive. Residents of Yalova are evaluated as peaceful. It is also found that, infrastructures and superstructures enhancing the Yalova city image should be improved

Measuring Intellectual Capital of Turkish Banks Listed on Borsa Istanbul Banking Index (BIST XBANK) with the Market Value / Book Value Method and Value Added Intellectual Coefficient (VAIC) Model

Intellectual capital is a critical concept to realize and reflect the real value of organizations. This study took advantage of Market Value (MV)  /  Book Value (BV) method and Value Added Intellectual Coefficient (VAIC) model to measure and compare intellectual capital of Turkish banks listed on Borsa Istanbul Banking Index (BIST XBANK). Also, financial indicators such as Return on Assets (ROA), Return on Equity (ROE), Leverage, (LEV), Capital Adequacy Ratio (CAR) and intellectual capital performance indicators such as MV/BV ratio, Human Capital Efficiency (HCE), Structural Capital Efficiency (SCE), Capital Employed Efficiency (CEE) and VAIC of banks were compared. Research also ran a Pearson Correlations Test to investigate the relationship between these indicators and to test the hypothesis. Data were gathered from Istanbul Stock Exchange -  ISE (Borsa Istanbul), Public Disclosure Platform (KAP), Banks Association of Turkey – TBB (Türkiye Bankalar Birliği), Banking Regulation and Supervision Agency (BRSA), Fortune Turkey, Anadolu Agency and Hurriyet

Auditing Techniques to Minimize Accounting Related Fraud and Errors: A Qualitative Analysis with the Interview Method

Accounting is more integrated with the technology today compared to the previous years. The increase in a variety of technological developments and commercial transactions has further increased the number and type of errors as well as frauds related to the accounting profession. This causes misleading information for several stakeholders. Stakeholdes sometimes make false decisions based on the financial statements created as a result of false and fraudulent transactions. In order to minimize the errors and frauds concerning the accounting system of enterprises, effective internal controls and auditing systems should be in order. It is evident that, setting up the required internal controls and auditing systems reduce asset losses and provide great benefits in the long run for firms. Existence of strong internal controls and auditing systems in enterprises has gained great importance in Turkey. This study provides information about the audit techniques that can minimize accounting related frauds and errors in businesses. The research includes and employs an interview with auditing professionals as the research methodology. Auditors working within three audit firms were selected by simple random sampling via the LinkedIn social media. The three participants were directed 10 semi- structured and open-ended questions. Qualitative analysis was adopted for this study. According to the results of research, companies use a number of tools to prevent accounting related frauds and errors. These most effective tools to minimize the frauds and errors are detected as internal auditing, internal controls and independent (external) auditing. Auditing professionals have high awareness about accounting related fraud and errors. But, auditor independency should be higher, proactive approach must be utilized and auditors must closely follow the new laws and regulations in addition to being familiar with the firms’s operations and sectors to minimize the fraud and errors. The Benford's law, artificial neural networks, analytical methods, data mining, red flags and analytical methods are commonly used by the auditors against frauds and errors. In general, the internal controls and auditing professions are in a much better situation today in Turkey compared to the previous years. But, this is still not adequate and there is a long way to complete ahead based on the opinions of auditing professionals

Auditing Techniques to Avoid Cost Accounting Frauds

Today, we observe the importance of accuracy of financial statements in every corporation. Accounting scandals have caused important losses both in the macro and micro levels. This issue proves the significance of financial statement accuracy. This accuracy is provided by the trust environment. Therefore, it is necessary to provide the required environment of confidence for financial markets to improve and function effectively against increasing accounting frauds gradually. That can only be possible by using different auditing techniques, running inventory counting such as cash and stock, establishing strong internal controls, managing efficiently and benefiting from technology integrated auditing. The aim of this study is to investigate the most effective auditing techniques to avoid cost accounting frauds. In this research, the most effective auditing techniques for detecting and preventing fraud are investigated by using the case analysis method. Also, the well known scandals related with Olympus, Worldcom, Tesco, Sunbeam and Parmalat companies are examined as a part of the case analysis. Finally, recommendations and suggestions regarding fraud prevention methods are presented

Accounting Education Approach in the Context of New Turkish Commercial Code and Turkish Accounting Standards

The aim of this article is to investigate the impact of new Turkish commercial code and Turkish accounting standards on accounting education. This study takes advantage of the survey method for gathering information and running the research analysis. For this purpose, questionnaire forms are distributed to university students personally and via the internet.This paper includes significant research questions such as “Are accounting academicians informed and knowledgeable on new Turkish commercial code and Turkish accounting standards?”, “Do accounting academicians integrate new Turkish commercial code and Turkish accounting standards to their lectures?”, “How does modern accounting education methodology and technology coincides with the teaching of new Turkish commercial code and Turkish accounting standards?”, “Do universities offer mandatory and elective courses which cover the new Turkish commercial code and Turkish accounting standards?” and “If such courses are offered, what are their names, percentage in the curriculum and degree of coverage?”Research contributes to the literature in several ways. Firstly, new Turkish commercial code and Turkish accounting standards are current significant topics for the accounting profession. Furthermore, the accounting education provides a basis for the implementations in public and private sector. Besides, one of the intentions of new Turkish commercial code and Turkish accounting standards is to foster transparency. That is definitely a critical concept also in terms of mergers, acquisitions and investments. Stakeholders of today’s business world such as investors, shareholders, entrepreneurs, auditors and government are in need of more standardized global accounting principles Thus, revision and redesigning of accounting educations plays an important role. Emphasized points also clearly prove the necessity and functionality of this research

Hershey’s Entry to the Australian Market with a New Brand: An Accounting and Marketing Perspective

This paper discusses the entry of Hershey’s Chocolates Company tothe Australian market with a new brand. For this purpose, background information and key performance indicators about the firm are presented. Also target customers and market summary, market demographics and target customer profile of the firm are mentioned in the context of situational analysis. Then,Hershey’s entry to the Australian market with a new product is proposed by providing and commenting on SWOT analysis, competition environment, accounting-finance indicators, marketing strategy and marketing mix (4P) factors. Thus, a deeper focus on the organization is realized and shared. As aresult, firm’s entry to the Australian market is discussed with a new product by suggesting recent and altered target customer base, customer profile,marketing strategy and marketing mix. Our study evaluates the potential disadvantages and advantages in detail and argues that there is a need for Hershey’s to enter the Australian market with a new product. In general, this article discusses and defends the entry of Hershey’s to Australian market witha new product by logical reasoning and draws a strategic roadmad to reach this goal

Impact of Mentoring on Organizational Commitment and Job Satisfaction of Accounting-Finance Academicians Employed in Turkey

The primary objective of this paper is to investigate the impact of mentoring on organizational commitment and job satisfaction of accounting-finance academicians employed in Turkey. Survey method is utilized in order to reach this goal and questionnaires are distributed to test the effect of mentoring on Turkish accounting-finance scholars’ organizational commitment and job satisfaction. This paper contributes to the literature by pointing out the relationship among mentoring, organizational commitment and job satisfaction, which in turn leads to more efficient mentoring management and necessary measures in Turkish accounting-finance community

Innovation Driven Emerging Technology from two Contrary Perspectives: A Case Study of Internet

Internet is a well, organized technological achievement of human being and a rapidly improving medium through time. All the novel technological achievements like web 2.0 or web 3.0 are new epochs of Internet technology and Internet is spreading in multiple dimensions, reforming the paradigm, and innovating the technology in a self-renewing fashion. In this paper, the technological construction of Internet and the social paradigms are discussed from two contrary perspectives. Either as “problem solvers” or“technical experts”, the characteristics of incumbents of technological positions seems very problematic in terms of their roles in shaping technology. Are they so disinterested and unbiased on creation of technology? Can we reduce their roles as such? How can we make sure that they are neutral? If we put their roles that way, what about freedom of individual decision-making