Turkey financial reporting standarts for small and medium-sized enterprises and a sample application

Since the second half of the 20th century, especially in the last 20 years, the world economy has evolved into a global structure as a result of the rapid development and change of technology and economy. Thus, it has been easy to work for enterprises in international markets. However, most businesses are small and medium-sized enterprises (SMEs), the formation of the understandability and comparability of the financial statements of these companies also has made it difficult for the global arena. According to these reasons, International Financial Reporting Standards that has already been applied to businesses a certain size has also become necessary by adapting to the practice for the type of SME businesses. The study concerning SME-TFRS, in this thesis, is an implementation of the standard on typical business data, and the purpose is to implement the SME-TFRS transition on what to do first in our country, this is a sample application that needs to be done according to the standard on accounting procedures explaining how the current practice in the preparation of financial statements to reveal the differences. As a result of the application of the SME-TFRS records kept of the current application with the Tax Procedure Law (TPL), and according to the calculations made by the balance and income statement items, there have been differences. Consequently, in particular active (passive) sizes of balance, the significant differences among the tax charges calculated with profit of the period has been also revealed. Key words: SMEs, TFRS, SME-TFRS, TPL, Delayed-tax asset and charge.