Comparison of international accounting standards and Turkey's accounting standards

XVI ABSTRACT The purpose of this study is to determine the differences and similarities between the standards of Turkey and International Accounting Standards. The development of accounting in each country is shaped by the influence of the external environmental factors. The accounting practice differs country to country since it is affected by complex interaction of economical, historical, constitutional and cultural factors. The sum effects of the variety in accounting practice, the globalization of security markets and multinational enterprises make the harmonization a necessity. The development of International Accounting Standards is the result of the need for harmony in accounting all around the world. In the first part of the study, international accounting concept, the factors leading accounting system differentiation, the classification of accounting systems, harmonization concept and the studies about harmonization are explained. The second part of the study contains the explanations of fifteen International Accounting Standards and comparison between the International Accounting Standards and the standards of Turkey. The standards of Turkey, which are subject to the comparison with International Accounting Standards is consisted of MSUGT, Turkish Securities Exchange Board's announcements and Turkish Accounting Standards. The fifteen standards, which are selected among thirty-four international accounting standards that have been published so far, are about the subjects, which are valid for all companies. In the third part of the study, a survey has been made about the differences between the accounting practices of the large companies in Turkey and International Accounting Standards. The focus of the survey was the first 500 largest companies of Turkey, which have been announced by İSO in 2000. At the end of the survey, the similarities and differences of accounting practice in Turkey with fifteen International Accounting Standards, the factors affecting these similarities and differences, the reason of company's International Accounting Standards' usage and the problems faced with international accounting have been determined.