Accounting of foreign trade transactions within the frame of Turkey accounting standards

Nowadays, international trade has a big importance for countries and firms. Foreign trade has been gradually increasing with regard to import and export. Countries has a different obligations and needs, because of this condition, foreign trade became necessary for them. Foreign trade starts with the contract that signs from each side. The contract explicilty includes how good should be deliver and the form of payment. Particularly, firms should know this two important topic. Type of delivery represent where sellers' responsibility ends, where buyers start. Also, time of payment can change, according to form of payment and this condition specifies the responsibility of two sides. In this study, firstly, foreing trade and the concept of foreign trade are explained comprehensively. Then, delivery and form of payment are approached in different parts. The aim of this study is, investigating delivery and form of payment in foreign trade as a part of Turkish Accounting Standards and how foreign trade transactions became appropriate according to Turkish Accounting Standards. Therefore, this situation examined with regard to TAS 18- Revenue Standards, TAS 21- Foreign Exchange Effects, TAS 2 and TAS 23. This standards be explained detailed, then foreign trade transactions are accounted in the framework of this standards. Keywords: Foreign Trade, Delivery Types, Payment Types, Turkish Accounting Standards