Evaluation in framework of TAS/TFRS and tax procedure code and an investigation on financial tables

The fact that globalization has a rapid impact in all areas of life has brought improvements to the formulation and implementation of a common set of financial reporting standards. In Turkey, Turkish Accounting Standards, which is the unilateral translation of the financial reporting standards issued by the International Accounting Standards Board have been published and entered into force. Turkish Accounting Standards (TAS) introduces significant changes to existing accounting practices and financial reporting systems. Together with these amendments, firms are required to calculate both their commercial profit according to Turkish Accounting Standards and the financial profit according to the Tax Procedural Code. The purpose of this study is to examine the valuation transactions in accordance with TAS / TFRS and Tax Procedural Code and their effect on financial statements. In this context, a sample application are carried out in line with the aim of the study, and the effects on financial table are put forward. As a result of the examinations the differences between TAS / TFRS and Tax Procedural Code are tried to be explained. In addition, the study also included the applications of deferred tax assets / liabilities resulting from the difference between commercial profit and financial profit.