Turkish practices about property, plant and equipment and property, plant and equipment is examined in terms of international financial accounting standards

Property, plant and equipment are tangible items that are held for use in the production or suply of goods and services for rental to other or for administrative purposes and are expected to be used during more than one period. Property, plant and equipment have major importance within the total assets of companies and thus they are very significant in the determination of financial analysis. The objective of this study is to examine Turkish practises of property, plant and equipment in terms of Turkish Trade Code, Capital Market Code and Tax Procedural Code as well as comparative analysis has been made between the current application and international financial accounting standards. For this purpose property, plant and equipment is generally examined. In terms of Turkish practices measurement of cost, revaluation and depreciation are examined. In terms of international financial accounting standards, in addition to those subjects, fair value, impairment, income taxes, derecognition, disclosure for each class of property, plant and equipment are examined. Consequently, it is possible to say that there are complex practices in the process of recognition because of different practices, and so there must be standardization thus financial statements will be valid in the international area.