“Harmonization approach in accounting” has been adopted in Turkey through the convergence to international accounting standards (IAS). Turkish accounting standards (TAS) compatible with IAS issued by the International Accounting Standards Board became effective for both listed companies and private and public sector companies from 2005. Till today, accounting in Turkey has been only a tool used for the calculation of the taxable income. The financial statements of the companies included only items necessary to calculate tax payable. The application of TAS largely changes the expectations of related parties from accounting. In Turkey all public and private sector companies except  the ones in specialized industries (bank, insurance etc.) were preparing their financial statements according to the regulations of the Ministry of Finance and the financial statement formats in the regulations of the Ministry of Finance are not completely compatible with IAS. The differences in financial statement formats arising from the application of TAS create quantitative and qualitative changes in the information presented by the financial statements. The special topics included in IAS such as deferred taxes, fair value accounting and accounting for biological assets are new topics for Turkish accounting system.  The changes in the formats of financial statements according to IAS make the results of the analysis more detailed and clearer. The purpose of this paper is to examine the changes in the formats of the financial statements by the application of TAS through literature review and research the effect of these changes on the results of financial analysis.