Turkish accounting standards (financial reporting) and problems faced in the application of it.

The fact that the businesses have been increasingly engaging in business on international scale and that their shares are quoted on the international stock exchanges have caused the financial tables to become even more complicated, difficult to understand and less lucid. Works that were started to solve this problem in developed countries resulted in the International Financial Reporting Standards (IFRS) which have been gradually adopted by other countries as the common language of accounting.Our country did not fall behind these developments and duly completed the necessary works which were enhanced by the establishment of the Board of Turkish Accounting Standards and resulted in the creation and publishing of Turkish Accounting / Financial Reporting Standards made compatible and consistent with International Financial Reporting Standards (IFRS). Following the completion of necessary legal arrangements businesses will be under obligation to prepare their financial statements in accordance with such standards.In this work it is intended to expand on the Turkish Accounting / Financial Reporting Standards in general and to identify the difficulties encountered in their application.For the purposes of afore said, the International Accounting / Financial Reporting Standards and the newly adopted requirements of the Turkish Accounting / Financial Reporting Standards were explained to the sworn financial advisors, members to the Chamber of Sworn Financial Advisors in Adana actively practicing in the provinces of Adana and Mersin, and the results of a survey conducted to identify the problem areas in application have been evaluated in this study.Key Words1.Turkish Accounting Standards2.Turkish Financial Reporting Standards3.İnternational Accounting Standards4.Financial Reporting5.Financial Statements