Financial reporting transformation: the experience of Turkey

Alp, Ali; Ustundag, Saim

doi:10.1016/j.cpa.2007.12.005

Cited by 61 publications

(49 citation statements)

References 2 publications

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“…The TASB formed a working commission to discuss and develop financial reporting standards for SMEs (Alp & Ustundag, 2009). As a result, the IFRS for SMEs was issued in the Official Gazette, dated 1st November 2010, numbered 27746 and included in the content of Turkey's New Commercial Code (Law No.…”

Section: The Turkish Contextmentioning

confidence: 99%

“…Kılıç et al (2014) reported that although the accountant professionals were aware of IFRS for SMEs adoption process, they had a moderate level of information related with this standard set. Further, Alp and Ustundag (2009) stated that only very few professional accountants had a detailed knowledge of financial reporting standards, and these standards require proficiency on application phase. In this regard, the application of new standards will result in the recruitment of new employees or re-training of the existing employees (Hellmann et al, 2010).…”

Section: Current Status Of Ifrs For Smes Adoption Processmentioning

confidence: 99%

“…As a developing country, Turkey also needs international financial reporting standard sets (IFRS/IFRS for SMEs) to produce high-quality financial information for accessing global capital markets and international financial resources (Alp & Ustundag, 2009). First, full set IFRS has become mandatory for only listed companies since 2005.…”

Section: Introductionmentioning

confidence: 99%

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Adoption process of IFRS for SMEs in Turkey: Insights from academics and accountants

Kılıç¹,

Uyar²

2017

JAMIS

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In 2009, the International Accounting Standards Board (IASB) issuedInternational Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) as a simplified version of the full IFRS addressing the financial reporting needs of SMEs. Although IFRS for SMEs is still not required in this jurisdiction, Turkey was one of the first ones that have taken substantive steps towards adoption of IFRS for SMEs. The main purpose of this research is to investigate the perceptions of Turkish accountants, academicians, and auditors regarding the adoption process of IFRS for SMEs via in-depth interview methodology. The findings of the research confirmed the need for a stand-alone standard set for SMEs. The interviewees asserted that more simplification on IFRS for SMEs may hinder comparability of financial statements. While high-quality financial information will be the most important advantage of applying IFRS for SMEs, cost burdens on firms and lack of trained personnel will be the major obstacles for the implementation process.

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Section: The Turkish Contextmentioning

confidence: 99%

Section: Current Status Of Ifrs For Smes Adoption Processmentioning

confidence: 99%

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Adoption process of IFRS for SMEs in Turkey: Insights from academics and accountants

Kılıç¹,

Uyar²

2017

JAMIS

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“…In 2009, the IASB finished a five-year development of a special accounting standard for SMEs. Despite the prominence of this type of entity in the global economy (they are estimated to compose 95% of all firms globally), 2 the way SMEs engage with special standards developed for them has seldom been investigated (Alp & Ustundag, 2009;Quagli & Paoloni, 2012;Schutte & Buys, 2011). Our present study is timely because of its potential to facilitate understanding of the effect of the institutionalisation processes on the adoption of the standard for SMEs.…”

Section: Introductionmentioning

confidence: 96%

“…SMEs have a wellknown dominant presence in most countries. There are concerns about the relevance of IFRS (or standards based on IFRS) for SMEs (Alp & Ustundag, 2009). In 2009, the IASB finished a five-year development of a special accounting standard for SMEs.…”

Section: Introductionmentioning

confidence: 99%

Institutional Change of Accounting Systems: The Adoption of a Regime of Adapted International Financial Reporting Standards

Guerreiro

Rodrigues

Craig

2014

European Accounting Review

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This study combines Dillard et al.'s [(2004). The making and remaking of organization context:Duality and the institutionalization process. Accounting, Auditing & Accountability Journal, 17(4), 506-542] institutional change model with institutional entrepreneurship theory. The aim is to enhance understanding of institutional change processes when a country adopts international accounting standards. For empirical support, we focus on the changes in social structures and accounting practices that arose in 2010 when Portugal replaced its national accounting system for unlisted companies, with a new system of accounting based on International Financial Reporting Standards. We reveal how an evolving socio-economic and political context, and the embedding of central actors in multiple fields, facilitated entrepreneurial action by actors who took political opportunity, mobilised important allies, and accommodated the interests of major protagonists. We draw attention to the possibility of an earlier inversion of the cascading institutionalisation process than is envisaged by Dillard et al. (2004). At the organisational field level, we highlight how national professional accounting associations and business associations can shape criteria established at the political and economic level, thereby counteracting the institutionalisation process. At the organisational level, we focus on the accounting standard for small and medium-sized entities. We provide insights to why some accountants maintained structures of meaning associated with the previous accounting system.

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Regulatory regime change in Turkish banks: Reactive or proactive?

Demirag¹

2012

Accounting Forum

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Financial reporting transformation: the experience of Turkey

Cited by 61 publications

References 2 publications

Adoption process of IFRS for SMEs in Turkey: Insights from academics and accountants

Adoption process of IFRS for SMEs in Turkey: Insights from academics and accountants

Institutional Change of Accounting Systems: The Adoption of a Regime of Adapted International Financial Reporting Standards

Regulatory regime change in Turkish banks: Reactive or proactive?

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