Convergence to international financial reporting standards: the case of Turkey

Şımga-Muğan, Can; Hosal-Akman, Nazli

doi:10.1504/ijaape.2005.006895

Cited by 16 publications

(11 citation statements)

References 8 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Like in many other developing countries, the development of financial reporting framework and the adoption of IFRSs in Turkey have taken a long time and have not been completed yet (see Gücenme, 2000;Şimga/Akman, 2005;Akdoğan, 2006;Koç Yalkın et al, 2006;İbiş/Özkan, 2006;Pekdemir, 2007). As Turkey became an official candidate for European Union membership, the financial statements of Turkish companies are required to be prepared and presented according to globally accepted international accounting standards (Uslu, 1999 : 18).…”

Section: Convergence To Ifrs and Ifrs For Smes In Turkeymentioning

confidence: 99%

Internatıonal Fınancıal Reportıng Standards X For Small And Medıum Sızed Entıtıes And The Turkısh Case

ARSOY¹,

Aylin;SİPAHİ²,

Barış³

2007

Ankara Üniversitesi SBF Dergisi

View full text Add to dashboard Cite

Bu çalışmada Türkiye'de küçük ve orta büyüklükteki işletmeler tarafından uluslararası finansal raporlama standartlarının benimsenmesi incelenmektedir. Uluslararası finansal raporlama standarlarının uyumlaştırılması global sermaye piyasalarının ihtiyaçlarına cevap vermek için bir zorunluluk halini almıştır. Türkiye'de uluslararası finansal raporlama standartlarına uyum süreci halka açık şirketler için 2003 yılında başlamıştır. Halen halka açık şirketler uluslararası finansal raporlama standartları ile uyumlu finansal raporlama yapmaktadırlar. Ancak Türkiye'de uluslararası finansal raporlama standartlarının KOBI ler tarafından uygulanması daha karmaşık bir süreç olacaktır. Çalışmada, Türkiye'de KOBI muhasebe standartlarının benimsenmesi ile ilgili olarak Güçlü Yönler-Zayıf Yönler-Fırsatlar-Tehditler (SWOT) analizi yapılmıştır. Yapılan SWOT analizine dayalı olarak hazırlanan anket cevaplayıcılara uygulanmış ve Türkiye'de KOBI muhasebe standartlarının benimsenmesinin güçlü yönleri, zayıf yönleri, fırsatları ve tehditlerini önem sırasına göre sıralamaları istenmiştir.Anahtar Kelimeler: Uluslararası finansal raporlama standartları, KOBI'ler için UFRS, finansal raporlama, yakınsama, muhasebede uyumlaştırma. AbstractThis study examines the adoption of international financial reporting standards (IFRS) for small and medium sized entities (SMEs) in Turkey. The harmonization of international financial reporting standards is a necessity for answering the requirements of global capital markets. The convergence to IFRSs in Turkey began in 2003 for listed companies. Currently the listed companies in Turkey are fully adopting the IFRS in their financial reporting framework. However the adoption of IFRS by SMEs in Turkey will be a more complex process. In the study we have provided an analysis of the Strengths-Weaknesses-Opportunities and Threats (SWOT)in adoption of IFRS for SMEs in Turkey. We also prepared a questionnaire based on the SWOT analysis and asked the respondents to rank the strengths, weaknesses, opportunities and threats of adopting IFRS for SMEs in Turkey.

show abstract

Section: Convergence To Ifrs and Ifrs For Smes In Turkeymentioning

confidence: 99%

Internatıonal Fınancıal Reportıng Standards X For Small And Medıum Sızed Entıtıes And The Turkısh Case

ARSOY¹,

Aylin;SİPAHİ²,

Barış³

2007

Ankara Üniversitesi SBF Dergisi

View full text Add to dashboard Cite

show abstract

“…Until the translations are completed, firms used the original IFRSs. For more detail on the exact accounting differences between the two, see [52].…”

Section: Motivation: Turkish Financial Reporting Settingmentioning

confidence: 99%

Value Relevance of Accounting Data in an Emerging Market: Did Accounting Reforms Make a Difference?

Aksu¹,

Çetin²,

Mugan³

2017

Accounting and Corporate Reporting - Today and Tomorrow

View full text Add to dashboard Cite

This study investigates the association of accounting earnings (NI) and book value of equity (BV) with stock prices in Istanbul Stock Exchange (ISE), currently Borsa Istanbul (BIST), during the 1992-2006 period. We also explore the effect of accounting reforms on value relevance that is measured as the strength of the association between a firm'sNIand BV and its market value. We specifically investigate the impact of the Turkish Uniform Chart of Accounts (1994), mandatory inflation accounting, consolidations and voluntary (2003)(2004), and the mandatory (2005) adoption of International Financial Reporting Standards (IFRS). We hypothesize that these reforms have reduced information asymmetry and thus are expected to enhance the value relevance of accounting information. We find strong evidence that the Ohlson model is a valid model, and BV is more value relevant than NI in BIST. We also find that inflation accounting and consolidations have enhanced the value relevance of BV, while IFRS has increased the value relevance of NI, but reduced that of BV. We contribute to the debate by exploiting the unique sequence of reforms, to come up with comparative value relevance testing designs and interesting results for all major reforms, which we believe will be instructive for researchers and for all emerging and developed economies undergoing similar reforms and best practices.

show abstract

“…The accounting system continued to be influenced by German codes until the end of first half of the 20th century. After the 1950s, an influence of the US system was also felt on the accounting system (Simga-Mugan and Akman, 2005;Simga-Mugan, 1995).…”

Section: Overview Of Convergencementioning

confidence: 99%

Winds of change in accounting practices in an emerging market: some observations and thoughts

Hosal-Akman

Şımga-Muğan

Arikboğa

2009

JGBA

View full text Add to dashboard Cite

In Turkey, publicly traded companies are required to comply with a new set of standards that are essentially similar to the International Financial Reporting Standards (IFRS) since 2005. In this study, we use the results of a survey carried out in Turkey with accounting or finance executives of publicly traded companies regarding their perceptions of the new set of standards and their expectations from the policy makers, compare the findings of global research with the survey results, and report our observations and opinion. The survey results suggest that there was lack of knowledge and experience for appropriate implementation -a common point raised globally as well. Early observations and findings reflect that, although a lot has been achieved on the way to convergence, more consensus and guidance from the national and international standard setters are necessary to fully realise the expected benefits of IFRS.

show abstract

Convergence to international financial reporting standards: the case of Turkey

Cited by 16 publications

References 8 publications

Internatıonal Fınancıal Reportıng Standards X For Small And Medıum Sızed Entıtıes And The Turkısh Case

Internatıonal Fınancıal Reportıng Standards X For Small And Medıum Sızed Entıtıes And The Turkısh Case

Value Relevance of Accounting Data in an Emerging Market: Did Accounting Reforms Make a Difference?

Winds of change in accounting practices in an emerging market: some observations and thoughts

Contact Info

Product

Resources

About