Journal of Accounting and Management Information Systems (JAMIS)

IFRS implementation and studies in Turkey

Vol. 13, Nr. 2/2014 ,   p373..399

Secil Varan

Keywords:   IFRS studies, Turkey, accounting developments

The development ofaccounting system and practices in a country is a reflection of its economicdevelopment as well as legislative process. Turkey has not been an exception.Its economic development has led the accounting practices to change from taxand state oriented towards international harmonization. The purpose of thisarticle is to provide an overview of IFRS (International Financial ReportingStandards) application in Turkey and an extensive review of IFRS related localliterature gathered from major accounting, finance and business journalspublished in Turkey in 2005-2014 period. The local literature is expected tocomplement and provide insight to international literature on IFRS applicationsin Turkey. The findings suggest that local academic literature has been focusedon application issues related to IFRS. Empirical literature findings suggestconvergence problems in the application of IFRS which calls for better trainingand public oversight. Capital markets research findings show positive impact ofIFRS adoption. Additionally, IFRS for SMEs, technical issues such as fair valuemeasurements and convergence of tax and IFRS reporting are the important topicsof discussion in local literature.