Differences Between the International Accounting Standards and the Theoretical Structure of Accounting in Turkey

Differences Between the International Accounting Standards and the Theoretical Structure of Accounting in Turkey

CİVAN, Mehmet
KARA, Ekrem

Accounting system provides non-misleading and controllable information on a company‘s financial structure and consequences of its activities. In this context, the theroetical structure of accounting is important. Accounting practices are in a constantly changing and developing environment. There are major differences between accounting practices and its theory. There are a number of institutions and organizations in Turkey that affects the theroetical structure of accounting. After the adoption of new Turkish Commerce Law, this multi-headed structure will be eliminated. According to the draft of new Turkish Commerce Law, Turkey Accounting Standards Board (TASB) will be responsible from the accounting regulations in Turkey. As a matter of fact, this institution has been issuing the International Accounting Standards in Turkey since its establishment in 2005. Until now, the TASB has issued 29 standards for the publicly traded companies and it is also preparing International Accounting Standards for the SMEs in Turkey. This study examines the theoretical structure of accounting in Turkey and its differences from the International Accounting Standards.

Conference or Workshop Item
PeerReviewed

2010-06

227