Publication: Transition of financial statements from Turkish gaap to tfrs in service entities
Abstract
Günümüzde çok uluslu şirketlerin yaygınlaşması, bağımsız denetim faaliyetlerinin önem kazanması, ülkeler arasındaki ekonomik ilişkilerin artması finansal raporlamada ortak bir standart oluşturma ihtiyacını doğurmuştur. Uluslararası Muhasebe Standartları Kurulu (IASB) tarafından yayınlanan standartlar birçok ülkede uygulanmaktadır. Uluslararası Muhasebe Standartları Kurulu tarafından (IASB) yayınlanan standartların tamamı Türkiye Muhasebe Standartları Kurulu (TMSK) tarafından kabul edilmiştir. Yeni Türk Ticaret Kanunu (Yeni TTK) ile birlikte birçok köklü değişiklik öngörülmüştür. Bunlardan en önemlilerinden birisi Kanun’da belirtilen ölçütleri karşılayan sermaye şirketleri Türkiye Finansal Raporlama Standartlarına (TFRS) ve Türkiye Muhasebe Standartlarına (TAS) uygun raporlama yapmak zorunda olacaklardır ve yeni kanunla Küçük ve Orta Büyüklükteki İşletmeler (KOBİ) için KOBİ UFRS’nin tam bir çevirisi olan KOBİ TFRS kullanılabilecektir. Bu gelişmelere paralel, yasal mevzuata uygun olarak hazırlanmakta olan finansal tabloların TFRS’ye uygun biçimde düzeltilmesi gerekmektedir. Bu çalışma örnek bir hizmet işletmesinin TFRS’ye uygun finansal tablolarını hazırlama çalışmalarına odaklanmıştır.
Today, being widespread of multinational companies, the importance of audit activities and increasing economic relations between the countries has led to form a common standard for financial reporting. The standards issued by International Financial Reporting Standards Board (IASB) have been applied in many countries. All the standards issued by the International Financial Reporting Standards Board (IASB) have been accepted by the Turkish Accounting Standards Board (TASB). With the new Turkish Commercial Code (TCC), many radical changes have been envisaged. One of the most important of these changes, equity capital companies met the criteria specified in the Law have to make reporting in line with Turkish Financial Reporting Standards (TFRS) and in the new TCC, it is stated that all Small and Medium Sized Entities (SMEs) can apply TFRS for SMEs as a complete translation of IFRS for SMEs. In parallel with these developments, the financial statements which are prepared in accordance with legal regulations have to be corrected in accordance with TFRS. This study focused on the preparation of financial statements in accordance with TFRS in a sample service entity.
Today, being widespread of multinational companies, the importance of audit activities and increasing economic relations between the countries has led to form a common standard for financial reporting. The standards issued by International Financial Reporting Standards Board (IASB) have been applied in many countries. All the standards issued by the International Financial Reporting Standards Board (IASB) have been accepted by the Turkish Accounting Standards Board (TASB). With the new Turkish Commercial Code (TCC), many radical changes have been envisaged. One of the most important of these changes, equity capital companies met the criteria specified in the Law have to make reporting in line with Turkish Financial Reporting Standards (TFRS) and in the new TCC, it is stated that all Small and Medium Sized Entities (SMEs) can apply TFRS for SMEs as a complete translation of IFRS for SMEs. In parallel with these developments, the financial statements which are prepared in accordance with legal regulations have to be corrected in accordance with TFRS. This study focused on the preparation of financial statements in accordance with TFRS in a sample service entity.