The change on the foundations of the Turkish accounting system and the future perspective

Elitaş, Cemal; Üç, Mustafa

doi:10.1016/j.cpa.2008.01.005

Cited by 11 publications

(6 citation statements)

References 2 publications

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“…The second commercial code was enacted in 1926 with a strong influence of Germany due to close political connections until World War I (Simga-Mugan 1995). Although the influence of the French and German systems is still relatively apparent since the 1950s, the Turkish accounting regime has been influenced by the USA accounting system (Elitas and Uc 2009).…”

Section: Institutional Settingmentioning

confidence: 99%

Foreign institutional ownership and demand for accounting conservatism: evidence from an emerging market

Khalil

Ozkanc

Yıldız

2019

Rev Quant Finan Acc

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This study investigates how foreign institutional ownership interacts with accounting conservatism in an emerging market setting. We posit that weak investor protection and a high degree of information asymmetry between insiders and outside investors increase demand for conservative reporting in firms operating in emerging markets. Foreign investors in this setting have informational disadvantages relative to their domestic peers and have difficulties in getting access to data. Using a sample of Turkish firms, we find that foreign institutions (particularly foreign corporate investors) demand more conservative reporting in the investee firms. Moreover, we show that this association is more pronounced among firms with greater asymmetric information problems and growth opportunities. Our additional tests reveal that the direction of causality flows from foreign institutional ownership to conservatism, and not vice versa.

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Section: Institutional Settingmentioning

confidence: 99%

Foreign institutional ownership and demand for accounting conservatism: evidence from an emerging market

Khalil

Ozkanc

Yıldız

2019

Rev Quant Finan Acc

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“…As we can see, the Turkish accounting system from its early days has primarily been under the influences of France and Germany. Therefore, influences from the continental philosophy of accounting whose represented by countries like : France, Germany, Belgium, Austria and so on (d 'Arcy, 2001;Elitaş & Üç, 2009). Indeed, this approach which grants the primacy to compliance with the rules therefore the law, to a much more fiscal propensity and a broader conception of the business partners.…”

Section: Brief Turkish Accounting Historymentioning

confidence: 99%

Transition From Local Accounting Standards to International Accounting Standards: A Comparison Between the Ohada Member Countries and Turkey

Diallo

Çevik

2021

Yorum Yönetim Yöntem Uluslararası Yönetim Ekonomi Ve Felsefe Dergisi

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This study tries to get a clear grasp of the factors that might play positively or negatively in a country's convergence or adoption of the international financial reporting standards (IFRS). Through a comparative analysis between Turkey and the OHADA countries and based on the existing literature, the transition process towards the IFRS and challenges faced by each one is discussed from a historical perspective to the level of development. As a result, it is understood that the adoption or convergence towards the IFRS can be a challenging and a long-term process requiring multiple adjustments. Also, countries may differ in terms of historical past, level of development, cultural and socio-economic aspects which can all influence their transition. In addition, given the lack of study on the new adoption of the IFRS in the OHADA countries, this paper will contribute to filling the gap in the literature on the transition process. Furthermore, it will help countries which are in their early stage of the transition process to avoid some missteps and learn from others experience to get better prepared for a successful shift towards a fully IFRS compatible accounting system as has done Turkey.

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“…The Capital Market Board was the first organisation which made a concrete effort in bringing standards to accounting practices in Turkey [Elitaş and Üç, (2009) TASB was founded to determine and issue national accounting standards which will be applied to gain public interest and provide the development and adoption of national accounting principles for the financial statements to be consistent, understandable, appropriate, comparable, reliable and reveal the real situations of the audited financial statements [www.tmsk.org.tr; Arsoy and Sipahi, (2007), p.39]. TASB is a public corporation with administrative and financial autonomy in the harmonisation of national accounting standards with IFRS.…”

Section: The Regulations Made In Turkey In Relation To Ifrsmentioning

confidence: 99%

“…However this will not be easy for unlisted companies that will be required to follow IFRS by the near future , p.954]. Elitaş and Üç (2009) reported that, before full application of IFRS in all of the business enterprises, the number of accounting text books (including IFRS application) and the skill of certified public accountants (CPAs) have to be increased in the compliance related to new regulation and also before the situation that stipulates be applied by SMEs business enterprises, it can be waited for the placing of jurisdiction thereby listed companies' experiences.…”

Section: Introductionmentioning

confidence: 99%

Opinions of the certified public accountants on the application and training programs of accounting standards: an empirical study

Hatunoğlu

2011

IJEA

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International Financial Reporting Standards (IFRS) are the standards and interpretations issued by the International Accounting Standards Board (IASB). These standards offer the standardisation of the financial information and financial activities worldwide. Current and potential investors and capital owners have a chance to make a decision in a more transparent and an efficient environment by using these standards. Over 100 countries have already adopted IFRS for public company filling. In Turkey, Turkish Accounting Standards Board (TASB) has been studying on the preparation of Turkish Financial Reporting Standards (TFRS). Soon, it is expected that these standards are to be finalised and applied. In this study, it is aimed to determine the assessment of the certified public accountants (CPAs) about the IFRS and TFRS, threats and opportunities of TFRS to them, and the training programs of TFRS. The survey data indicates that CPAs have a positive perception in TFRS, and the group of CPAs, who have information about IFRS and TFRS, mostly agree with the items in relation to IFRS, TFRS and potential effects of TFRS to their career.

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The change on the foundations of the Turkish accounting system and the future perspective

Cited by 11 publications

References 2 publications

Foreign institutional ownership and demand for accounting conservatism: evidence from an emerging market

Foreign institutional ownership and demand for accounting conservatism: evidence from an emerging market

Transition From Local Accounting Standards to International Accounting Standards: A Comparison Between the Ohada Member Countries and Turkey

Opinions of the certified public accountants on the application and training programs of accounting standards: an empirical study

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