IFRS 2005 in Turkey; Can We See the Evidences on the Financial Reports of the Companies Listed?

The Turkish economy has been emerging one during the last decades. So, has been the Turkish Capital Market. This study focuses on the IFRS applications in 2005 in Turkey. Particularly has dealt with the following research questions: First, what has been the position statement of the goodwill and the deferred taxes on the financial statements investigated? Second, what has been the importance of the amounts of the goodwill and the deferred taxes on financial statements investigated? In order to find out the reasonable answers to the questions above, the financial reports IFRS applied of the top 100 companies listed on the Istanbul Stock Exchange have been analyzed. Data available on the web pages were obtained from financial reports of those. The empirical research was conducted through a statistical software package. The financial statements as of December 31, 2003, 2004, and 2005 have been covered by the study. The results have shown the impacts of the items covered in the study on the financial positions of the companies investigated.IFRS, Emerging Economies, Goodwill, Deferred Taxes

Exploratory Evidence for the Adoption of the Ias 7 in Turkey

This paper examines the adoption of the International Accounting Standard No 7 (IAS 7) “Cash Flow Statements (CFS)” of the International Accounting Standards Board (IASB) by the listed companies in the Istanbul Stock Exchange (ISE) in Turkey. The purpose of this study is to provide brief information about the history and background of the adoption or harmonization of the global financial reporting standards, to explore the degree of homogeneity in choosing among different options permitted by the IAS 7 and the degree of compliance with it. In order to achieve this purpose, an exploratory study was developed and conducted by analyzing financial statements of 17 non-financial firms of ISE top 30 from the year of 2007 to 2009. The findings of the study have shown a significant heterogeneity and non-compliance in applying the IAS 7 in Turkey. The high degree of heterogeneity may dismiss the comparability of financial statements across entities, requiring further efforts by the IASB to reduce options permitted in its standards. The high degree of non-compliance may create the risk of misleading financial information users who might have expected that the audited financial statements they have been prepared according to the IASB standards.accounting harmonization, adoption, compliance, IAS 7, cash flow statement.

IFRS 2005 in Turkey; Can We See the Evidences on the Financial Reports of the Companies Listed?

The Turkish economy has been emerging one during the last decades. So, has been the Turkish Capital Market. This study focuses on the IFRS applications in 2005 in Turkey. Particularly has dealt with the following research questions: First, what has been the position statement of the goodwill and the deferred taxes on the financial statements investigated? Second, what has been the importance of the amounts of the goodwill and the deferred taxes on financial statements investigated? In order to find out the reasonable answers to the questions above, the financial reports IFRS applied of the top 100 companies listed on the Istanbul Stock Exchange have been analyzed. Data available on the web pages were obtained from financial reports of those. The empirical research was conducted through a statistical software package. The financial statements as of December 31, 2003, 2004, and 2005 have been covered by the study. The results have shown the impacts of the items covered in the study on the financial positions of the companies investigated

High School Teachers’ Perceptions and Opinions on Professional Accountants: The Turkey Case

In recent literature on professional accountancy, there have been certain studies that relate to the thoughts and/or perceptions of the public or the community on professional accountants in the different countries. Inspiring from those, it is aimed to find out the perceptions of the high school teachers working in Istanbul on the Turkish Professional Accountants. Teachers, particularly high school teachers have been important factors affecting on high school graduates. Besides being teachers, they have been fathers or mothers, sisters or brothers, leaders or advisors of all students. Having more than hundred years background in practice, the Professional Accounting Law of Turkey is almost seventeen years old. It was one of the main reasons to conduct this study. There have been three main research questions of the study: to determine the thoughts of the teachers on the duties conducted by the Turkish professional accountants, to determine the factors affecting on their thoughts, and to find out whether they have any idea about the differences of the duties conducted by different levels of accounting profession in Turkey. For the objectives of the study, a structured questionnaire was utilized in 2005. Four different groups of questions were asked to the respondents. The format was a type of Likert scale for the measurement of the thoughts and perceptions of the respondents. Responses were analyzed through the SPSS Software Package. Findings of the study are very interesting themselves, and also might be very interesting for particular people to make comparative studies

High School Teachers’ Perceptions and Opinions on Professional Accountants: The Turkey Case

In recent literature on professional accountancy, there have been certain studies that relate to the thoughts and/or perceptions of the public or the community on professional accountants in the different countries. Inspiring from those, it is aimed to find out the perceptions of the high school teachers working in Istanbul on the Turkish Professional Accountants. Teachers, particularly high school teachers have been important factors affecting on high school graduates. Besides being teachers, they have been fathers or mothers, sisters or brothers, leaders or advisors of all students. Having more than hundred years background in practice, the Professional Accounting Law of Turkey is almost seventeen years old. It was one of the main reasons to conduct this study. There have been three main research questions of the study: to determine the thoughts of the teachers on the duties conducted by the Turkish professional accountants, to determine the factors affecting on their thoughts, and to find out whether they have any idea about the differences of the duties conducted by different levels of accounting profession in Turkey. For the objectives of the study, a structured questionnaire was utilized in 2005. Four different groups of questions were asked to the respondents. The format was a type of Likert scale for the measurement of the thoughts and perceptions of the respondents. Responses were analyzed through the SPSS Software Package. Findings of the study are very interesting themselves, and also might be very interesting for particular people to make comparative studies

IFRS 2005 in Turkey; Can We See the Evidences on the Financial Reports of the Companies Listed?

The Turkish economy has been emerging one during the last decades. So, has been the Turkish Capital Market. This study focuses on the IFRS applications in 2005 in Turkey. Particularly has dealt with the following research questions: First, what has been the position statement of the goodwill and the deferred taxes on the financial statements investigated? Second, what has been the importance of the amounts of the goodwill and the deferred taxes on financial statements investigated? In order to find out the reasonable answers to the questions above, the financial reports IFRS applied of the top 100 companies listed on the Istanbul Stock Exchange have been analyzed. Data available on the web pages were obtained from financial reports of those. The empirical research was conducted through a statistical software package. The financial statements as of December 31, 2003, 2004, and 2005 have been covered by the study. The results have shown the impacts of the items covered in the study on the financial positions of the companies investigated

A Study Seeking Historical Evidence for Bases of Classified Balance Sheets

This paper explores the historical evolution of balance sheet layout and the reasons behind the positioning of assets on the left or right side. It delves into two main questions: why the discrepancy in asset placement on balance sheets across countries, and why the shift from right to left in the UK during the 19th century. Using historical evidence spanning from the 15th century to the mid-20th century, the study investigates the development and changes in listing assets, liabilities, and stockholders' equity. It aims to uncover the factors influencing the classification and presentation of items on balance sheets, driven by the needs of information users over time. By examining secondary sources in English literature, the paper provides insights into the evolution of balance sheet layouts globally. Researchers may find this exploration of historical balance sheet variations intriguing, shedding light on how layout decisions have been shaped by user needs and expectations

Exploratory Evidence for the Adoption of the Ias 7 in Turkey

This paper examines the adoption of the International Accounting Standard No 7 (IAS 7) “Cash Flow Statements (CFS)” of the International Accounting Standards Board (IASB) by the listed companies in the Istanbul Stock Exchange (ISE) in Turkey. The purpose of this study is to provide brief information about the history and background of the adoption or harmonization of the global financial reporting standards, to explore the degree of homogeneity in choosing among different options permitted by the IAS 7 and the degree of compliance with it. In order to achieve this purpose, an exploratory study was developed and conducted by analyzing financial statements of 17 non-financial firms of ISE top 30 from the year of 2007 to 2009. The findings of the study have shown a significant heterogeneity and non-compliance in applying the IAS 7 in Turkey. The high degree of heterogeneity may dismiss the comparability of financial statements across entities, requiring further efforts by the IASB to reduce options permitted in its standards. The high degree of non-compliance may create the risk of misleading financial information users who might have expected that the audited financial statements they have been prepared according to the IASB standards