Accounting of crypto currencies within the framework of TMS/TFRS and the opinions of accounting professionals

The data obtained in the field of accounting should be reliable, accurate, truthful and meaningful. Turkish Accounting and Financial Reporting Standards, which are created in accordance with International Accounting and Financial Reporting Standards, are of great importance in terms of accounting data to have these qualifications. In recent years, the issue of how crypto money-related transactions, which have shown a rapid development in the field of economy and started to be owned by businesses, should be transferred to accounting within the framework of accounting and financial reporting standards has been brought to the agenda. In the developing technology and economy world, the use of cryptocurrencies, whose level of recognition is increasing rapidly in Turkey and in the world, has become constantly increasing. Legal regulations for cryptocurrencies are not yet available in every country, but these currencies have the potential to change the perspective of money in general. In this case, it is predicted that future cryptocurrencies will be able to continue their existence within the framework of legal regulations. Cryptocurrencies, whose popularity is increasing day by day, have caused some states to worry about this issue. This is because it is difficult to determine how to account for transactions using cryptocurrencies. As of today, there is no legal regulation regarding the accounting of cryptocurrencies in Turkey yet. The aim of this research is to determine how cryptocurrencies can be accounted within the framework of Turkish Accounting Standards and Turkish Financial Reporting Standards and the opinions of professional accountants. For this purpose, the opinions of accounting professionals operating in the provinces of Kayseri and Kırşehir on cryptocurrencies and the accounting of cryptocurrencies were tried to be determined by survey and interview methods. The analysis of the quantitative data obtained from the questionnaires was made using SPSS, and the analysis of the qualitative data obtained from the interviews was made using MAXQDA programs and various findings were reached. As a result of the research, evaluations on how cryptocurrencies should be accounted if they are officially accepted are included.