TURKEYS NEW FINANCIAL LEASING LAW AND INDUSTRY

In this Article, Professor Tekinalp describes Turkey's new and rapidly growing financial leasing industry. One of the reasons for this rapid growth is the newly enacted Law Concerning Financial Leasing ("LCFL"). Enacted before a financial leasing industry existed, the LCFL is unique in its heavy regulation of this industry. As a drafter of the LCFL, Professor Tekinalp offers insight into the operation and goals of the statute and provides fertile ground for comparison with other developments in international financial regulation

Free bending vibrations of adhesively bonded orthotropic plates with a single lap joint

This study is concerned with the free bending vibrations of two rectangular orthotropic places connected by an adhesively bonded lap joint. The influence of shear deformation and rotatory, inertia in plates are taken into account in the equations according to the Mindlin plate theory. The effects of both thickness and shear deformations in the thin adhesive layer are included in the formulation. Plates are assumed to have simply supported boundary conditions at two opposite edges. However, any boundary conditions can be prescribed at the other two edges. First, equations of motion at the overlap region are derived. Then, a Levy-type solution for displacements and stress resultants are used to formulate the problem in terms of a system of first order ordinary differential equations. A revised version of the Transfer Matrix Method together with the boundary and continuity conditions are used to obtain the frequency equation of the system. The natural frequencies and corresponding mode shapes are obtained for identical and dissimilar adherends with different boundary conditions. The effects of some parameters on the natural frequencies are studied and plotted

Accounting in Turkey with reference to the particular problems of lease transactions

Leasing in Turkey has grown rapidly in the later part of the 1980s. This has presented challenges to accountants which have yet to be resolved. At present the country does not have an accounting standard on this topic and as a consequence transactions are recorded in accordance with tax laws. This paper considers the development of accounting in Turkey and whether the principles stated in International Accounting Standard (IAS) 17 on leasing are applicable for Turkey. The responses to questionnaires sent to accountants in Turkey suggest that the principles in IAS 17 are acceptable to accountants in that country.