Turkish Financial Reporting System and Capital Markets’ Regulations

Turkish Financial Reporting System and Capital Markets’ Regulations

YILDIZ, Feyyaz
ELİTAŞ, Cemal
ÜÇ, Mustafa

Accounting is a knowledge system which records, classifies and summarizes the economic activities of the companies. In this turn accounting has very close links with many social economic factors that shapes an accounting system in a coıuntry. The aim of this paper gives information about contemporary Turkish accounting system and its relation with capital markets’ regulations. Also, this paper reviews current literature on accounting standard setting issues and the last developments in Turkey since 1923. It should be addressed that, there’s no capital markets and bourses before 1980s in Turkey. After this date significant changes has lived both in economy and accounting system in axis of capital markets and candidacy process of European Union. Also this situation brought out theoretical debate on the change of current accounting system from continental Europe to Anglo-Saxon system

Conference or Workshop Item
PeerReviewed

2009-06

160