Legal dimension and accounting of concordat transactions inTurkey

It is important for companies to continue their activities from the moment when they are established and ensure continuity. Companies face many problems during their activities. Companies in need of funds may enter into heavy debts in order not to disrupt their activities while seeking funds. While continuing their activities with these debts, they face the risk of losing their assets. This may cause companies to experience some financial problems. When companies cannot cope with financial problems, they may end their activities and enter the bankruptcy process. Regarding this process, the concept of concordat has been broadly discussed and started to be implemented with the Law No. 7101.Instead of bankruptcy decisions, it was aimed for companies not to terminate their activities, to continue their activities by declaring concordat and to cope with their financial problems in this process. With this Law, the concordat has been widely applied throughout the country. After the approval of concordat by the court, its provisions and results were of great importance for the parties. In this study, general information about the legal dimension of concordat is given and the accounting processes of the concordat are discussed in detail. The other issues related to the concordat were handled and examined separately. Science Code : 112203 Key Words : Concordat, Accounting Page Number: 123 Supervisor: Assoc. Prof. Ömer YAZAN