The Turkish economy has been an emerging one during the last decades. So has been the Turkish Capital Market. This study focuses on the IFRS adoptions or applications in 2005 in Turkey. Particularly it has dealt with the following research questions: First, what has been the position statement of the goodwill and the deferred taxes as indicators of the First Time Adoptions (the FTA) of the IFRS in Turkey? Second, what has been the importance of the amounts of the goodwill and the deferred taxes on financial statements investigated for the study? In order to find out the reasonable answers to the questions above, the financial reports that are first time IFRS applied of the ISE (The Istanbul Stock Exchange) 100 companies listed on the Istanbul Stock Exchange have been analyzed. Data available on the official web page of the ISE were obtained from the financial reports of the ISE 100 public companies. The empirical research was conducted through the statistical software packages. The financial statements as of December 31, 2003, 2004, and 2005 have been covered by the study.