Preparation of financial statements, within the concept of the international financial reporting standarts for small and medium sized firms and a case study

Nowadays increasing competitive environment, development of markets, as a result of this development the complexity of accounting systems and increasing of importance and credibility of information which will be presented to third parties and public are defined as the most important factors of affecting the process of financial reporting standards. Based on these factors, the purpose of our research is rearrange of the International Financial Reporting Standards which was published for Small and Medium-sized Enterprises (SME) by practicing on a pre- tax procedural law entity (TPL) financial statements prepared in accordance with International Financial Reporting Standards as required by SMEs. By giving information about the concept of Small and Medium Sized Enterprise the effects of economies of this kind of enterprises, the importance of these enterprises, advantages and disadvantages was stated in the first section of this study. In the second section some information were given about the structure of the International Accounting Standards Board, mode of operation, and the general structure of the International Financial Reporting Standards as published by the committee. In third section it was given wide publicity to the general structure of the "IFRS for SMEs" and sections of these standards with some information about full set differences of IFRS. In the fourth section, DERYA entity's financial statements in 2013 which recorded according to Tax Procedure Law were schemed by the "IFRS for SMEs" and revealed differences were shown. In conclusion of study new financial statements were schemed according to "IFRS for SMEs" after making corrections being seen increases or decreases in some certain items of DERYA' entity financial statements prepared according to Tax Procedure Law. As a result of these sets some differences which happened were posted another financial statements which reorganized by datas of "IFRS for SMEs"