Financial instrument concept and related accounting implementations in terms of international financial reporting standards and tax legislation of Turkey

The thesis examines financial instrument concept and relatedaccounting implementations in terms of International Financial ReportingStandards and Tax Legislation of Turkey.In first part of the thesis, after giving general point of view aboutobjective and application process of IFRS, some effective corporations whotake role in this formation are mentioned.Financial instrument concept takes place in International AccountingStandards 32 and 39. Beginning from the second part, standards areexamined in detail.In the second part, after mentioning subjects which are in the scope ofIAS 32 and IAS 39 and new arrangements made as of 2003 and 2005 ingeneral, IAS 32 is taken in to consideration entirely. Since derivativeinstruments are as comprehensive as to constitute another thesis subject,they are kept out of the scope of this thesis. That is to say, derivatives arejust mentioned in the conceptual frame. At the end of the part, recognition offinancial instruments is stated, hereafter IAS 39 oriented classification takesplace and financial instruments are examined regarding to these classes.The third part of the thesis is highly asserted part of the thesis whichcovers measurement of financial instruments in IAS 39 and application of IAS39, relatively. Hereby, discrepancies among IFRS, Tax Legislation andCapital Market Law were found and also related accounting record exampleswere given along with.At the end, hedging accounting is just mentioned, because it is verycomprehensive as it may again constitute the different thesis study.Therefore, mentioned part is not explained with examples and just severalrevisions are mentioned.