Accounting for international trade transactions according to international accounting and financial reporting standards

In today's world, international trade has become a major point of interest. Businesses, in the face of increasing competitive conditions, consider foreign markets as the best alternative to local markets. At the same time, governments strive to support and promote foreign trade, aiming to address payment imbalances in developing countries. The continuously increasing volume of world exports, when observed in relation to global trade, demonstrates the growing importance placed on international trade. This study examines some of the standards primarily used in foreign trade transactions in our country. These standards include IAS 2, which regulates the accounting treatment of inventories, IAS 21, which addresses the effects of changes in foreign exchange rates, IAS 23, which covers borrowing costs, and IFRS 15, which regulates revenue from customer contracts. These standards aim to determine how transactions should be accounted for in accordance with these standards. The examined standards provide rules and guidelines to be applied in the financial reporting of foreign trade transactions. The purpose of these standards is to ensure the accurate and transparent recording of transactions, as well as to achieve consistency and comparability in financial statements. In this way, the goal is to carry out financial reporting and accounting practices in foreign trade transactions in a standardized and consistent manner. Keywords: International Trade, International Accounting Standards, International Financial Reporting Standards, Inventory Standard, Effects of Changes in Foreign Exchange Rates Standard, Borrowing Costs Standard, Revenue from Customer Contracts Standard.