{"id":11267,"date":"2022-11-05T20:58:48","date_gmt":"2022-11-05T17:58:48","guid":{"rendered":"https:\/\/bestessayhomework.com\/tr\/?p=11267"},"modified":"2022-11-05T20:58:48","modified_gmt":"2022-11-05T17:58:48","slug":"hisse-senetleri-muhasebe-alaninda-tez-yaptirma-muhasebe-tez-yaptirma-ucretleri-muhasebe-odevleri-muhasebe-odev-ucretleri","status":"publish","type":"post","link":"https:\/\/bestessayhomework.com\/tr\/hisse-senetleri-muhasebe-alaninda-tez-yaptirma-muhasebe-tez-yaptirma-ucretleri-muhasebe-odevleri-muhasebe-odev-ucretleri\/","title":{"rendered":"Hisse Senetleri \u2013 Muhasebe Alan\u0131nda Tez Yapt\u0131rma \u2013 Muhasebe Tez Yapt\u0131rma \u00dccretleri \u2013 Muhasebe \u00d6devleri \u2013 Muhasebe \u00d6dev \u00dccretleri"},"content":{"rendered":"

Hisse Senetleri <\/span><\/strong><\/h3>\n

Son 20 y\u0131lda, \u015firketler kendi adi hisse senetlerinden \u00f6nemli miktarda sat\u0131n ald\u0131lar. Adi hisse senedinin geri al\u0131m\u0131n\u0131n bir\u00e7ok fakt\u00f6r taraf\u0131ndan motive edildi\u011fi s\u00f6ylenmi\u015ftir. Bunlar aras\u0131nda:<\/span><\/p>\n

1.Yeniden sat\u0131n al\u0131nan hisse senetleri, \u015firket birle\u015fmeleri ve \u015firket sat\u0131n almalar\u0131, hisse senedi opsiyonlar\u0131 ve hisse sat\u0131n alma planlar\u0131 vb. nedenlerle \u015firket taraf\u0131ndan kullan\u0131l\u0131r.<\/span>
\n2. Hisse geri al\u0131m\u0131 bir yat\u0131r\u0131m \u015feklidir.<\/span>
\n3. Hisse senedinin yeniden sat\u0131n al\u0131nmas\u0131, firma taraf\u0131ndan kullan\u0131lan finansal kald\u0131ra\u00e7 miktar\u0131n\u0131 art\u0131r\u0131r.<\/span>
\n4. Hisse geri al\u0131m\u0131, bir temett\u00fc \u015feklidir ve bir temett\u00fc \u00f6deme \u015fekli olarak, hisse senedi geri al\u0131m\u0131n\u0131n, normal temett\u00fclere k\u0131yasla daha avantajl\u0131 vergi sonu\u00e7lar\u0131 vard\u0131r.<\/span>
\n5.Hisse geri al\u0131m\u0131, sahiplik oranlar\u0131nda bir de\u011fi\u015fikli\u011fe yol a\u00e7abilir (kontrol\u00fcn s\u00fcrd\u00fcr\u00fclmesi ama\u00e7t\u0131r).<\/span>
\n6.\u00d6zel bilgilerden yararlanarak, hisse geri al\u0131m\u0131 belirli hissedarlar\u0131n varl\u0131k durumunu iyile\u015ftirebilir.<\/span>
\n7. Hisse geri al\u0131m\u0131, firman\u0131n boyutunu k\u00fc\u00e7\u00fcltme y\u00f6ntemidir (bir t\u00fcr tasfiye temett\u00fc).<\/span>
\n8. Nakit temett\u00fcye k\u0131yasla hisse geri sat\u0131n almak, hisse ba\u015f\u0131na kazan\u00e7 ve dolay\u0131s\u0131yla hisse fiyat\u0131 gibi finansal \u00f6nlemleri iyile\u015ftirebilir.<\/span>
\n9. Firma ve pazar taraf\u0131ndan tutulan farkl\u0131 beklentiler, yeniden sat\u0131n alma yoluyla, belirli hissedarlar\u0131n servet pozisyonunu iyile\u015ftirmeye yol a\u00e7abilir.<\/span>
\n10. Hisse geri al\u0131m\u0131, zaman i\u00e7inde hisse senedi fiyat\u0131n\u0131 art\u0131racakt\u0131r.<\/span>
\nBir\u00e7o\u011fu birbiriyle ili\u015fkili olsa da, bu nedenlerin her birini ayr\u0131 ayr\u0131 ele alaca\u011f\u0131z.<\/span><\/p>\n

Hisse Senedinin \u015eirket Taraf\u0131ndan Kullan\u0131lmas\u0131 \u0130\u00e7in Geri Al\u0131nmas\u0131<\/span><\/strong><\/h4>\n

\u015eirketler, di\u011fer \u015firketlerin sat\u0131n al\u0131nmas\u0131 da dahil olmak \u00fczere \u00e7e\u015fitli ama\u00e7lar i\u00e7in kendi hisse senetlerini kullan\u0131r. Ancak bu, bir \u015firketin kendi hisselerini neden geri ald\u0131\u011f\u0131na dair tam bir a\u00e7\u0131klama de\u011fildir, \u00e7\u00fcnk\u00fc bir \u015firket genellikle hisselerin edinildi\u011fi ama\u00e7 t\u00fcrleri i\u00e7in yeni hisseler ihra\u00e7 edebilir.<\/span><\/p>\n

Bir \u015firketin ek hisse ihra\u00e7 etmek istememesinin, dolay\u0131s\u0131yla hisselerin yeniden ihra\u00e7 edilmek \u00fczere geri al\u0131nmas\u0131n\u0131n ge\u00e7erli nedenleri olabilir. Ancak \u00f6nemli olan bu di\u011fer sebeplerdir, hisselerin \u015firket taraf\u0131ndan kullan\u0131laca\u011f\u0131 ger\u00e7e\u011fi de\u011fil.<\/span><\/p>\n

Yat\u0131r\u0131m Olarak Hisse Geri Al\u0131m\u0131<\/span><\/strong><\/h3>\n

Bir \u015firket kendi hisselerine \u201cyat\u0131r\u0131m yapamaz\u201d. Normal yat\u0131r\u0131mlarda nakit, \u00e7al\u0131\u015fan varl\u0131klara d\u00f6n\u00fc\u015ft\u00fcr\u00fcl\u00fcr. Karl\u0131 yat\u0131r\u0131mlar firman\u0131n b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc artt\u0131r\u0131r ve bor\u00e7 veya \u00f6z sermaye hesaplar\u0131nda art\u0131\u015flar e\u015flik edebilirken, bu hesaplarda asla d\u00fc\u015f\u00fc\u015fler e\u015flik etmez.<\/span><\/p>\n

Ancak, bir firma kendi hisselerini geri sat\u0131n al\u0131rsa, \u015firket taraf\u0131ndan yat\u0131r\u0131m yap\u0131lmaz. Firman\u0131n kendi hisselerini sat\u0131n almas\u0131yla birlikte nakit kullan\u0131ld\u0131k\u00e7a varl\u0131klar azal\u0131r ve \u00f6zkaynaklar da azal\u0131r. T\u00fczel ki\u015fi, hisseleri sat\u0131n al\u0131rken yat\u0131r\u0131m yapmaz.<\/span><\/p>\n

Hisselerin geri al\u0131nmas\u0131ndan bir grup hissedar\u0131n fayda sa\u011flamas\u0131 ve bir grubun zarar g\u00f6rmesi m\u00fcmk\u00fcnd\u00fcr. Sat\u0131\u015f yapmayan grup, satan grubun yat\u0131r\u0131m\u0131na k\u0131yasla firmaya yapt\u0131\u011f\u0131 yat\u0131r\u0131m\u0131n boyutunu art\u0131rabilir, ancak bu, firman\u0131n yat\u0131r\u0131m yapt\u0131\u011f\u0131n\u0131 s\u00f6ylemekle ayn\u0131 \u015fey de\u011fildir. Yat\u0131r\u0131m terimi, bir eylem sonucunda firman\u0131n k\u00fc\u00e7\u00fcld\u00fc\u011f\u00fc bir durumdan ziyade, firman\u0131n fiilen \u00fcretken faaliyetlere kaynak ay\u0131rd\u0131\u011f\u0131 durumlar i\u00e7in ayr\u0131lmal\u0131d\u0131r.<\/span><\/p>\n

Hisse geri al\u0131m s\u00fcrecinin “yat\u0131r\u0131m” olmamas\u0131 ger\u00e7e\u011fi, \u00f6denmemi\u015f hisse senedi sat\u0131n almak (emekli olmak) i\u00e7in fonlar\u0131n kullan\u0131lmas\u0131n\u0131n, hissedarlar\u0131n bir k\u0131sm\u0131n\u0131n veya tamam\u0131n\u0131n bak\u0131\u015f a\u00e7\u0131s\u0131ndan fonlar\u0131n en iyi kullan\u0131m\u0131 olmayaca\u011f\u0131 anlam\u0131na gelmez.<\/span><\/p>\n

\n

Hisse Senetleri Canl\u0131<\/span>
\nBorsada en \u00e7ok kazand\u0131racak Hisseler<\/span>
\nHisse Senedi<\/a> Fiyatlar\u0131<\/span>
\nHisse Senedi takip<\/span>
\nBorsa hisseleri<\/span>
\nEn ucuz hisse senetleri<\/span>
\nG\u00fc\u00e7l\u00fc al veren hisseler<\/span>
\nHisse senedi t\u00fcyolar\u0131<\/span><\/p>\n

\n

Finansal Kald\u0131ra\u00e7taki Art\u0131\u015flar<\/span><\/strong><\/h3>\n

Hisselerin geri sat\u0131n al\u0131nmas\u0131, bor\u00e7lar\u0131n toplam \u00f6zkaynaklara oran\u0131nda bir art\u0131\u015fa yol a\u00e7acak ve dolay\u0131s\u0131yla finansal kald\u0131ra\u00e7 miktar\u0131n\u0131 art\u0131racakt\u0131r. Ancak, ayn\u0131 miktarda nakit temett\u00fc ayn\u0131 kald\u0131ra\u00e7 etkisine sahip olaca\u011f\u0131ndan, hisse geri sat\u0131n alma s\u00fcrecinin tek a\u00e7\u0131klamas\u0131 bu olamaz. A\u00e7\u0131klama ba\u015fka bir yerde bulunmal\u0131d\u0131r.<\/span><\/p>\n

Bir Temett\u00fc \u015eekli<\/span><\/strong><\/p>\n

Hisse geri al\u0131m\u0131 \u00f6zel bir temett\u00fc t\u00fcr\u00fcd\u00fcr. Ola\u011fan gelir ve sermaye kazan\u00e7lar\u0131 aras\u0131nda ayr\u0131 bir vergi muamelesi olmasayd\u0131 ve t\u00fcm hissedarlardan orant\u0131l\u0131 say\u0131da hisse sat\u0131n al\u0131nm\u0131\u015f olsayd\u0131, hisse geri al\u0131m\u0131 i\u00e7in ekonomik etkiler nakit temett\u00fc (hisse say\u0131s\u0131) ile hemen hemen ayn\u0131 olurdu. ola\u011fan\u00fcst\u00fc de\u011fi\u015fecektir, ancak tek fark bu olacakt\u0131r).<\/span><\/p>\n

Hisse senedi t\u00fcm yat\u0131r\u0131mc\u0131lardan orant\u0131l\u0131 olarak al\u0131nmazsa, hisse geri al\u0131m\u0131 \u00f6zel bir temett\u00fc t\u00fcr\u00fcd\u00fcr, \u00e7\u00fcnk\u00fc sadece artan sahiplikle kar\u015f\u0131la\u015ft\u0131r\u0131ld\u0131\u011f\u0131nda nakit tercih eden hissedarlara gider. Nakit almaktansa yat\u0131r\u0131m\u0131n\u0131 art\u0131rmay\u0131 tercih eden hissedarlar satmazlar. S\u00fcrecin kendi kendine se\u00e7icili\u011fi, grup olarak hissedarlar i\u00e7in bir avantajd\u0131r.<\/span><\/p>\n

Yukar\u0131daki sonu\u00e7 s\u0131f\u0131r vergi varsaymaktad\u0131r. Vergiler dikkate al\u0131nd\u0131\u011f\u0131nda, hisse senedi geri al\u0131m\u0131 avantajl\u0131d\u0131r. Nakit temett\u00fcye k\u0131yasla hisse geri al\u0131m\u0131n\u0131n hissedarlar\u0131na y\u00f6nelik vergi tasarrufu olduk\u00e7a b\u00fcy\u00fck olabilir. Bir yat\u0131r\u0131mc\u0131n\u0131n, 1.000 ABD Dolar\u0131 vergi matrah\u0131 ile 1.200 ABD Dolar\u0131’na hisse senedi sahibi oldu\u011funu ve satt\u0131\u011f\u0131n\u0131 varsayal\u0131m.<\/span><\/p>\n

Ola\u011fan gelir i\u00e7in marjinal vergi oran\u0131 y\u00fczde 35 ve sermaye kazan\u00e7lar\u0131 i\u00e7in y\u00fczde 15’tir. 1.200$ nakit temett\u00fc ile, hissedar 780$ (vergi 420$ olacakt\u0131r) netle\u015ftirecektir. Hisse geri al\u0131m\u0131 \u015feklinde da\u011f\u0131t\u0131lan 1.200$ ile, hissedar 1.170$’\u0131 netle\u015ftirecektir (200$’l\u0131k bir sermaye kazanc\u0131 \u00fczerinden vergi 30$ olacakt\u0131r).<\/span><\/p>\n

Geri sat\u0131n alman\u0131n adi temett\u00fc da\u011f\u0131t\u0131m\u0131na g\u00f6re avantaj\u0131 iki nedenden dolay\u0131 mevcuttur. Birincisi, iki vergi oran\u0131 aras\u0131ndaki farkt\u0131r. \u0130kinci sebep: Geri sat\u0131n alma plan\u0131 ile \u00f6demenin bir k\u0131sm\u0131 ana vergi ama\u00e7lar\u0131 i\u00e7in geri \u00f6deme olarak kabul edilir ve bu nedenle hi\u00e7 vergilendirilmez.<\/span><\/p>\n

Zaman i\u00e7inde sistematik yeniden sat\u0131n alma sonunda maliyet taban\u0131n\u0131 s\u0131f\u0131ra yakla\u015ft\u0131racak olsa da, \u015fimdiki de\u011fer metodolojisi erken vergi tasarruflar\u0131n\u0131 y\u00fcksek tutar ve bu nedenle sistematik geri sat\u0131n alma ile s\u0131radan temett\u00fc aras\u0131ndaki fark, hem sermaye kazan\u00e7lar\u0131 hem de normal gelir vergilendirildi\u011finde hala sonu\u00e7sald\u0131r.\u00a0<\/span><\/p>\n

Hem ki\u015fisel hem de kurumlar vergisi oranlar\u0131 s\u0131f\u0131r olsayd\u0131, her iki gelir da\u011f\u0131t\u0131m y\u00f6ntemi de ayn\u0131 \u00f6z de\u011fere yol a\u00e7ard\u0131. Bununla birlikte, vergi hususlar\u0131n\u0131n getirilmesi, farkl\u0131 “paketlerin” de\u011ferini etkileyebilir.<\/span><\/p>\n

Vergi kanunlar\u0131, da\u011f\u0131t\u0131ma haz\u0131r likit varl\u0131klara sahip firmalar i\u00e7in daha b\u00fcy\u00fck temett\u00fcler \u00f6demek yerine hisse sat\u0131n almak i\u00e7in g\u00fc\u00e7l\u00fc te\u015fvikler sa\u011flayabilir. Normal gelir \u00fczerindeki marjinal vergilendirme oran\u0131 b\u00fcy\u00fck ve uzun vadeli sermaye kazan\u00e7lar\u0131 \u00fczerindeki oran k\u00fc\u00e7\u00fck ise, bir\u00e7ok ki\u015fi sermaye kazan\u00e7lar\u0131n\u0131 s\u0131radan gelire tercih edecektir.<\/span><\/p>\n

Hisseleri geri sat\u0131n alarak hissedarlara nakit iade etme konusundaki bu te\u015fvikler g\u00f6z \u00f6n\u00fcne al\u0131nd\u0131\u011f\u0131nda, ilgili bir soru \u015fu olabilir: Firmalar neden temett\u00fc \u00f6d\u00fcyorlar? Bunun \u00f6nemli bir nedeni de s\u0131f\u0131r vergi \u00f6deyen \u00f6nemli yat\u0131r\u0131mc\u0131lar\u0131n olmas\u0131d\u0131r.<\/span><\/p>\n

\u0130kinci a\u00e7\u0131klama, Gelir \u0130daresi Ba\u015fkanl\u0131\u011f\u0131’n\u0131n hisse geri al\u0131m\u0131na y\u00f6nelik tutumu ile ilgilidir. Mevcut \u0130\u00e7 Gelir Kanunu, firmalar\u0131n temett\u00fclerini hisse geri al\u0131mlar\u0131 \u015feklinde gizlemelerini a\u00e7\u0131k\u00e7a yasaklamay\u0131 ama\u00e7lamaktad\u0131r. \u00d6rne\u011fin, t\u00fcm hissedarlardan yap\u0131lan orant\u0131l\u0131 geri al\u0131mlar, vergi ama\u00e7l\u0131 temett\u00fcler gibi muamele g\u00f6r\u00fcr.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Hisse Senetleri Son 20 y\u0131lda, \u015firketler kendi adi hisse senetlerinden \u00f6nemli miktarda sat\u0131n ald\u0131lar. Adi hisse senedinin geri al\u0131m\u0131n\u0131n bir\u00e7ok fakt\u00f6r taraf\u0131ndan motive edildi\u011fi s\u00f6ylenmi\u015ftir. Bunlar aras\u0131nda: 1.Yeniden sat\u0131n al\u0131nan hisse senetleri, \u015firket birle\u015fmeleri ve \u015firket sat\u0131n almalar\u0131, hisse senedi opsiyonlar\u0131 ve hisse sat\u0131n alma planlar\u0131 vb. nedenlerle \u015firket taraf\u0131ndan kullan\u0131l\u0131r. 2. Hisse geri al\u0131m\u0131…
Devam\u0131<\/a><\/p>\n","protected":false},"author":6,"featured_media":10303,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[28100,28101,28099],"tags":[28105,25825,28106,25826,28103,28104,25822,28102],"class_list":["post-11267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hisse-senedi-fiyatlari","category-hisse-senedi-takip","category-hisse-senetleri-canli","tag-borsa-hisseleri","tag-borsada-en-cok-kazandiracak-hisseler","tag-en-ucuz-hisse-senetleri","tag-guclu-al-veren-hisseler","tag-hisse-senedi-fiyatlari","tag-hisse-senedi-takip","tag-hisse-senedi-tuyolari","tag-hisse-senetleri-canli"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/posts\/11267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/comments?post=11267"}],"version-history":[{"count":1,"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/posts\/11267\/revisions"}],"predecessor-version":[{"id":11268,"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/posts\/11267\/revisions\/11268"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/media\/10303"}],"wp:attachment":[{"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/media?parent=11267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/categories?post=11267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestessayhomework.com\/tr\/wp-json\/wp\/v2\/tags?post=11267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}