{"id":23,"date":"2023-02-24T14:47:50","date_gmt":"2023-02-24T11:47:50","guid":{"rendered":"https:\/\/tr.f-chain.com\/?page_id=23"},"modified":"2023-03-20T08:06:55","modified_gmt":"2023-03-20T05:06:55","slug":"ifrs","status":"publish","type":"page","link":"https:\/\/tr.f-chain.com\/en\/ifrs\/","title":{"rendered":"IFRS"},"content":{"rendered":"

[vc_row css_animation=”fadeInUp”][vc_column][vc_column_text]<\/p>\n

International financial reporting standards in Turkey: Key Features<\/b><\/h2>\n

The New Commercial Code regulates all financial statements and accounting in the country. According to this document, all financial records of business structures should be based on Turkish <\/span>financial reporting standards<\/b>, which fully replicate <\/span>IFRS International<\/b>.<\/span><\/p>\n

Specialists of our company render consulting services in accounting and financial services, considering <\/span>financial reporting standards<\/b> established by Turkish legislation. Entrusting accounting to professionals, the businessman makes the first step to success. Addressing us, clients receive qualified support from experts who work according to <\/span>IFRS Turkey<\/b>.\u00a0<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row content_placement=”middle” css_animation=”fadeInUp”][vc_column width=”1\/2″][vc_column_text]Rules of accounting reporting according to IFRS International<\/b><\/p>\n

As mentioned above, certain <\/span>financial reporting<\/b> standards<\/b> in Turkey meet international requirements. According to them, the financial statements must include the following:\u00a0<\/span><\/p>\n

    \n
  • directors’ reports;<\/span><\/li>\n
  • balance sheet;<\/span><\/li>\n
  • profit and loss statements;<\/span><\/li>\n
  • cash flow statements;<\/span><\/li>\n
  • reports of changes in share capital;<\/span><\/li>\n
  • additional information.<\/span><\/li>\n<\/ul>\n

    The accounting records must be kept in Turkish, which meets the requirements of <\/span>IFRS Turkey<\/b>. In addition, one of the requirements is using the Turkish lira as a means of payment. Still, records can also be kept in foreign currency, but only with an indication of the equivalent in local currency.\u00a0<\/span><\/p>\n

    Since <\/span>international financial reporting standards in Turkey<\/b> are fixed by law, our company, providing consulting and other services, complies fully with <\/span>IFRS International<\/b>. Therefore, by contacting us, the entrepreneur can be sure that competently compiled <\/span>international financial reporting in Ankara <\/b>will be available to him in the shortest possible time.\u00a0<\/span>[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”554″ img_size=”full”][\/vc_column][\/vc_row][vc_row content_placement=”middle” css_animation=”fadeInUp”][vc_column width=”1\/2″][vc_single_image image=”687″ img_size=”full”][\/vc_column][vc_column width=”1\/2″][vc_column_text]What are the advantages of IFRS Turkey?<\/b><\/p>\n

    IFRS International<\/b> represent globally recognized recommendations that ensure transaction transparency. With the help of such standards, business people are guided by the same principles and methods. Therefore, adhering to <\/span>IFRS<\/b> Turkey<\/b> will provide the following benefits:\u00a0<\/span><\/p>\n

      \n
    1. The possibility of entering the world stock markets. It will allow you to take cheaper loans from foreign banks than to stimulate the development of your own business.<\/span><\/li>\n
    2. Decrease in expenses for the preparation of reporting. It makes it possible to draw consolidated statements from specialists from different countries.<\/span><\/li>\n
    3. Reliability of information on the financial position of the company. This point is highly appreciated by business owners, possible investors, creditors, and controlling structures.<\/span><\/li>\n
    4. Simplification of managers’ work, who can more easily trace connections between the data in the reports and real events. Based on this information, specialists can make decisions that will effectively influence the <\/span>company’s future development.<\/span><\/li>\n<\/ol>\n

      International financial reporting standards in Turkey <\/b>allow our specialists to generalize their experience in accounting and reporting while providing services. Clear compliance with <\/span>IFRS International<\/b> is the key to the success of our company.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row content_placement=”middle” css_animation=”fadeInUp”][vc_column width=”1\/2″][vc_column_text]Requirements for financial statements according to IFRS International<\/b><\/p>\n

      Legislation and <\/span>international financial reporting standards in Turkey<\/b> provide specific rules. When preparing financial statements, our <\/span>company<\/b>:\u00a0<\/span><\/p>\n

        \n
      1. Uses a reporting plan in his work. It is stated in the Turkish Tax Code.<\/span><\/li>\n
      2. Prepares the statutory accounts in the set format for transferring to the tax office. Specialists do this strictly according to the norms of the law and following <\/span>IFRS International<\/b>.<\/span><\/li>\n
      3. Provides documentary support for all activities of the subsidiary company. Attached documents may include invoices, receipts, payment orders, etc.\u00a0<\/span><\/li>\n<\/ol>\n

        Financial reporting is an essential tool in the work process of any Turkish enterprise. Turning to experienced professionals with a good knowledge of <\/span>financial reporting standards<\/b>, you can prevent the company’s collapse. Without an accountant who knows <\/span>IFRS International<\/b>, there is a risk of significant losses.<\/span>[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_single_image image=”226″ img_size=”full”][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

        [vc_row css_animation=”fadeInUp”][vc_column][vc_column_text] International financial reporting standards in Turkey: Key Features The New Commercial Code regulates all financial statements and accounting in the country. According to this document, all financial records of business structures should be based on Turkish financial reporting standards, which fully replicate IFRS International. Specialists of our company render consulting services in accounting<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-23","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nFinancial reporting under IFRS in Turkey<\/title>\n<meta name=\"description\" content=\"Our specialists will help you to align your financial reporting to International Financial Reporting Standards\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tr.f-chain.com\/en\/ifrs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial reporting under IFRS in Turkey\" \/>\n<meta property=\"og:description\" content=\"Our specialists will help you to align your financial reporting to International Financial Reporting Standards\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tr.f-chain.com\/en\/ifrs\/\" \/>\n<meta property=\"og:site_name\" content=\"Fchain\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-20T05:06:55+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/tr.f-chain.com\\\/en\\\/ifrs\\\/\",\"url\":\"https:\\\/\\\/tr.f-chain.com\\\/en\\\/ifrs\\\/\",\"name\":\"Financial reporting under IFRS in Turkey\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/tr.f-chain.com\\\/#website\"},\"datePublished\":\"2023-02-24T11:47:50+00:00\",\"dateModified\":\"2023-03-20T05:06:55+00:00\",\"description\":\"Our specialists will help you to align your financial reporting to International Financial Reporting Standards\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/tr.f-chain.com\\\/en\\\/ifrs\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/tr.f-chain.com\\\/en\\\/ifrs\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/tr.f-chain.com\\\/en\\\/ifrs\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/tr.f-chain.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IFRS\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/tr.f-chain.com\\\/#website\",\"url\":\"https:\\\/\\\/tr.f-chain.com\\\/\",\"name\":\"Fchain\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/tr.f-chain.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Financial reporting under IFRS in Turkey","description":"Our specialists will help you to align your financial reporting to International Financial Reporting Standards","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tr.f-chain.com\/en\/ifrs\/","og_locale":"en_US","og_type":"article","og_title":"Financial reporting under IFRS in Turkey","og_description":"Our specialists will help you to align your financial reporting to International Financial Reporting Standards","og_url":"https:\/\/tr.f-chain.com\/en\/ifrs\/","og_site_name":"Fchain","article_modified_time":"2023-03-20T05:06:55+00:00","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tr.f-chain.com\/en\/ifrs\/","url":"https:\/\/tr.f-chain.com\/en\/ifrs\/","name":"Financial reporting under IFRS in Turkey","isPartOf":{"@id":"https:\/\/tr.f-chain.com\/#website"},"datePublished":"2023-02-24T11:47:50+00:00","dateModified":"2023-03-20T05:06:55+00:00","description":"Our specialists will help you to align your financial reporting to International Financial Reporting Standards","breadcrumb":{"@id":"https:\/\/tr.f-chain.com\/en\/ifrs\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tr.f-chain.com\/en\/ifrs\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/tr.f-chain.com\/en\/ifrs\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tr.f-chain.com\/en\/"},{"@type":"ListItem","position":2,"name":"IFRS"}]},{"@type":"WebSite","@id":"https:\/\/tr.f-chain.com\/#website","url":"https:\/\/tr.f-chain.com\/","name":"Fchain","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tr.f-chain.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/pages\/23","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/comments?post=23"}],"version-history":[{"count":5,"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/pages\/23\/revisions"}],"predecessor-version":[{"id":5162,"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/pages\/23\/revisions\/5162"}],"wp:attachment":[{"href":"https:\/\/tr.f-chain.com\/en\/wp-json\/wp\/v2\/media?parent=23"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}