Revision proposal of uniform chart of accounts within the scope of 2013/34 EU directive

With the impact of globalisation, companies are required to present their financial statements more clearly, comparably, understandably and ensure that those statements reflect the results that are closest to the fair value. Therefore, today, it is essential to use the internationally accepted accounting standards. The aim of this study is to harmonize Uniform Accounting System with internationally accepted accounting standards and to present proposed changes in Uniform Chart of Accounts ensuring full compliance with the European Union acquis (Related Legislation: Directive 2013/34/EU of 26 June 2013 on the Annual Financial Statements, Consolidated Financial Statements and Related Reports of Certain Types of Undertakings) required for full membership to the Union. If the appropriate changes are applied to the Uniform Chart of Accounts-based accounting standards and the Uniform Chart of Accounts, compliance with the EU Directive will be ensured, unnecessary costs on companies will be eliminated and uniform accounting standards will be achieved. Keywords:Uniform Chart of Accounts, Tax Procedure Law, 2013/34/EU Directive, IFRS, IFRS for SMEs, US GAAP, German GAAP, Inventories, Property, Plant and Equipments, Intangible Assets, Financial Assets and Liabilities, Provisions