Comparison of TAS (Turkish Accounting Standards) 37 provisions, contingent liabilities, contingent asset standards with Turkish Trade Law and tax law, their application to the companies publicly traded in Istanbul Stock Exchance

The only item that the investors can get information about the companies' current condition and performance is the financial statement. However it is difficult to know the domestic accounting applications therefor it is necessary to prepare the financial statement according to certain standarts for this reason, the desire and obligation for the application of International Accounting Standards (IAS) becomes more important day by day. From the increase in the foreign capital and stock exchange transactions Turkish accounting Standards competible with International accounting standards are getting more important. In this study, within the scope of this importance, one of the International Financial Reporting Standard 37 provisions, contingent liabilities and contingent assets standard is investigated. First of all the standart is investigated in detail. After this investigation the transactions made as part of 37 standards compared with Turkish Trade Law and Tax law then analyzed about their application to the companies those are publicly traded in İstanbul Stock Exchange, As a result, this study determines how the companies handle the TAS 37 Standard and which provisions, contingent liabilities and contingent assets are reported. Keywords: Provinions, Contingent Liabilities, Contingent Assets.