Accounting for tangible fixed assets in government accounting system and comparison with TAS-16 property, plant and equipment standard

The public expenditures have a significant effective role in the economies of the countries, which cannot be disregarded. In order to provide public services and fulfill public duties the Government expend and collect revenues pursuant to their respective laws to be enough for expenditures. For this reason all financial transactions of the government must be recorded, reported and evaluated like a business. An effectively accounting system which can produce financial and camparable reports suitable for needs must be in consistency with standards.In our country, the first steps of the application aimed at providing efficiency and productivity in public acoounting system are taken with issuance of the Law No 5018. With accruel based accountancy system the Government started recording tangible fixed assets so the reports are in accordance with international standards, become comparable and reliable. Government accounting regulations are prepared considering standards and its applicability.This study consists of three parts.In the first part, is given general information about government accounting , are handled leading regulations to accrual based accounting and international regulations which are leading government accounting.In the second part, tangible fixed assets are handled within the framework of national regulations and Turkish Accounting Standards, national and international standards related with government accounting are explained.In the third part, tangible fixed assets? accounting are explained and explicated its compliance with TAS-16 Property, Plant and Equipment Standard.After this study, it is determined that the rules related fair value, useful life, recognizing a cost in the carrying amount, application of depreciation, impairment provisions located in TAS-16 Property, Plant and Equipment Standard are not parallel with the rules of accounting tangible fixed assets in government accountancy system within the framework of related regulations because of their purpose and scope diversity.Key Words1.Government Accounting2.Property, Plant and Equipment3.Accounting Standards4.TAS-16