AİLE ŞİRKETLERİNDE SÜRDÜRÜLEBİLİRLİK AÇISINDAN MUHASEBE VE RAPORLAMANIN ÖNEMİ: ÖRNEK OLAYLAR
THE IMPORTANCE OF ACCOUNTING AND REPORTING IN TERMS OF SUSTAINABILITY IN FAMILY COMPANIES: CASE STUDIES

Summary/Abstract: Aim: Family companies are a type of company that is common in almost all economies, but have disadvantages in terms of sustainability. Eliminating sustainability-related disadvantages will make significant contributions to both the increase of the family's wealth and the development of the country. The aim of this study is to demonstrate the importance of accounting and reporting in terms of sustainability in family companies with Case Studies. Method: In the study, one of the qualitative research methods, the case study method, was selected to demonstrate the importance of accounting and reporting in terms of sustainability in family companies. Accounting records and financial statements were evaluated with information obtained from audits, observations and interviews conducted in family companies that were covered, and the effects of these situations on sustainability were interpreted. Findings: It has been detected that in the companies within the scope of the study; there are no effective accounting and reporting systems, the company's own resources are transformed into personal wealth and therefore company’s working capital becomes insufficient, problems in cash management emerge, sound reporting on cost and profitability cannot be made, stock management and internal control systems are insufficient which is leading to fraud and corruption cases and many mistakes are made in pricing decisions. Results: It has been found that the companies within the scope of the study do not have effective accounting and reporting systems, and therefore the impact of decrease in inflation rates on profitability since the 2000s is not understood. Declines in profitability have exposed working capital deficits, and these deficits have been covered by bank loans, rather than by equity. Over time, this situation became unsustainable and caused companies to go bankrupt.

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