Yaratıcı Muhasebe Kapsamında Halka Arz Seferberliği
Public Offering Campaign within the Scope of Creative Accounting

Summary/Abstract: In this study, effect of creative accounting on Initial Public Offering (IPO) Campaign is aimed to be analyzed. 63 companies which went public in 2010, 2011 and 2012 at the Borsa İstanbul were examined. Beneish model preferred in the study aiming to find out whether creative accounting used in the process or not. Subsequently, 2010, 2011, 2012 and 2013 annual financial statement datas analyzed. In addition to the scope of the defined financial ratios which were used in Beneish model, four independent ratios had been added to the model. Furthermore, the concept of creative accounting and corresponding techniques were defined. According to the results of the research, the ratio of the non-operating income to the sales ratio (FDS) and the index of change in borrowing structure (BYE) were found to be indicators of whether creative accounting was applied.

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