The valuation of tangible assets in the financial statements comparison in terms of Tax Procedures Law and Turkish accounting standards

This thesis aims to outline the similarities and differences of reporting tangible assets through tax procedure law and Turkish accounting standards. Whatever the company's area of activity, tangible assets have a special importance at the balance sheet. In the Turkish uniform accounting plan, Land and Parcels, Land improvements, Buildings, Machinery and Equipment, Vehicles, Inventories, other fixed assets classified on the 25th section has been examined. The study includes the analysis of fixed assets and depletable assets through the Turkish tax procedures law and Turkish accounting standards. Different fixed assets valuation practices has been comparatively examined in both regulations. It has been concluded that in accordance to both regulations', tax procedure law and accounting standards, due to basic differences in their main purposes the depreciation methods differ significantly.