In terms of ias 1 ias 7 analysis of financial statements presentation: Samples from Turkey and the United Kingdom

The subject of this research constitutes the International Financial Reporting Standards. In this research presentation of financial statements was aimed to investigate in terms of standards IAS 1 "Presentation of Financial Statements" and IAS 7 "Cash Flow Statements". First, the literature review was conducted on the current situation of international financial reporting regulations. Then the contents of full set financial statements and notes of sample British and Turkish companies quoted in stock exchanges in annual accounting period 2012 and 2013 were analyzed related to IAS 1 and IAS 7 and the determination of the current situation concerning the preparation and presentation of financial statements was made. In addition, the application differences have been analyzed regarding financial reporting and presentation practices of the companies under research. This research has revealed that companies fulfill a large extent the requirements of the IAS 1 and IAS 7 standards in preparing and presenting their financial statements, also companies' financial statements and notes were comprehensively and carefully prepared and there is a decisive effect on the financial statements formats of local accounting regulations and practices in addition to the identification of trends with regard to IAS 1; the general rules the structure and contents of financial statements of the companies and regarding the IAS 7/TMS 7; the information provided with the cash flow statement, the presentation of cash flow statement, and clarification and reporting of cash flows. Besides on the scope IFRS overview for some elements have shown that they prefer to use different applications.