Comparison of the accounting plan in accordance with the KGK financial reporting standards and the MSUGT uniform accounting plan

With the global digitalization, economic integration, and the increase in international trade, Türkiye, like other countries, has accelerated its efforts to comply with international standards, making it inevitable to make changes and updates to its accounting system. The Public Oversight Accounting and Auditing Standards Authority (KGK), which undertakes the task of developing, implementing and auditing accounting, auditing and independent auditing standards in Türkiye, prepared a new draft chart of accounts in line with financial reporting standards in 2018 and presented it to the public. Later, the KGK finalized the draft and published it on 30/07/2024 under the name of "Account Plan in Accordance with Financial Reporting Standards" within the framework of the board decision taken on 29/07/2024. In this study, it is aimed to compare the published KGK Chart of Accounts and MSUGT Uniform Chart of Accounts and to evaluate a sample enterprise by performing ratio analyses through financial statements prepared according to these account plans. In general, it is determined that there are differences in the two chart of accounts. In the KGK chart of accounts, the number of accounts has increased compared to the existing uniform chart of accounts. It was also observed that there were changes in the account names used in the KGK chart of accounts, the length of the account names and the account descriptions were prepared in more detail. In the ratio analysis results, it is concluded that the financial statements prepared according to the Uniform Chart of Accounts show the enterprise better than it is.