Edited By Engin ÇAKIR and Yusuf KADERLİ
Social sciences are made up of science disciplines that research humanity, society, and the world with a human dimension, and therefore its domain of influence is also serious and wide. Naturally, the social scientist has the power to influence society with his/her research and writing. This book aims to add the contributions of academicians from different disciplines to the social sciences fields they specialize in the academic literature and to give an idea about new researches. The book contains scientific articles on business, economics, public finance, tourism, and international relations.
Current Developments in the Process of Adoption to the IFRS/IAS in Turkey: Mehmet Utku and Yusuf Kaya
Mehmet Utku and Yusuf Kaya
Abstract The International Accounting Standards Board (IASB) has published International Financial Reporting Standards (IFRS) in order to ensure confidence, growth and stability in the global economy and to create a common language in international financial markets. Many countries in the world, especially the economies of developed countries, have adopted IFRS in a short time. Turkey, which wants to take a share in international capital movements, is simultaneously trying to harmonize its national accounting policies with these standards with developed economies. Important steps have been taken in this regard since 2005, when the compulsory transition to IFRS began in Turkey. In this study, the aim is to reveal the current developments and their effects in Turkey, especially in recent years, at the point of compliance with the standards intended. Within the scope of the study, the existing accounting system in Turkey is discussed from a historical perspective. Then, the effects of the mandatory transition to IFRS in 2005 for publicly traded companies were revealed by taking into account the studies in the literature. Later, the Financial Reporting Standard for Large and Medium-Sized Enterprises (LME’s FRS), which entered into force since 2018, and the effects of transition to this standard on financial statements were examined. Finally, the chart of accounts in accordance with the financial reporting standards and the Financial Reporting Standard for Small and Micro Enterprises (SME’s FRS), the draft texts of which have just been published, have been examined and the possible effects are discussed. As a result, Turkey is...
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