The financial reporting standard for large and medium sized enterprises (BOBI FRS): A research on accounting practitioners

There have been significant developments in the standardization of accounting practices to make the financial statements comparable in the globalizing world. The International Financial Reporting Standards (IFRS) set is used for financial reporting unity in many countries, especially in Europe. However, since IFRS generally covers the companies listed on the stock exchange, this prevents the application area of IFRS from spreading. For this purpose, the need for the local financial reporting standards has emerged for companies that are subject to independent audit but do not apply do not apply Turkish Accounting Standards/Turkish Financial Reporting Standards. Thus, Financial Reporting Standard for Large and Medium Size Enterprises (BOBI FRS) was published on 29 July 2017 with the Notification No: 30138 and entered into force on 1 January 2018. Although BOBİ FRS is generally prepared on the basis of TFRS, there are significant differences between TFRS that may affect financial reporting. The aim of the study is to discuss and exemplify the fundamental differences between BOBI FRS and full set TMS-TFRS. In addition, a survey is conducted to determine the opinions of accounting practitioners about the Financial Reporting Standard for Large and Medium Sized Enterprises (BOBI FRS). Key Words: Financial Reporting Standard for Large and Medium Size Enterprises (BOBI FRS), International Financial Reporting Standards (IFRS)