Author
Kaya, J. T., Türegun, Nida
Publication Date
2017
Publication Place
-
Association of Chambers of Independent Accountants and Certified Public Accountants of Turkey
Subject
SME, SME IFRS/TFRS, Local financial reporting framework, Public interest entity, SME, IFRS/TRFS for SMEs, National financial reporting framework, Public interest entities
Type
Periodical
Language
Turkish
Digital
Yes
Manuscript
No
Library
Özyeğin University
Library Asset ID
1307-6639
Record ID
d5b7a6fe-53bc-4cf0-9a69-3d0c860c7cbd
Library Location
Hotel Management
Date
2017
Sample Text
In today's world, where it is inevitable to purify accounting from differences and turn it into a common language, ensuring the reliability of the financial statements of SMEs in our country, identifying the possibility of comparison for financial statement users, creating the ease of finding local or international financing, will help their institutionalization and increase their relations in global trade; A standard requirement has emerged that will facilitate the transition to the full set of TFRS, especially for those who are growing and plan to participate in the capital markets in the future. The aim of the study is to synthesize world examples from the development process of applications that are expected to prevent the informal economy, together with the Local Financial Reporting Framework. Highly integrated level of today's trade requires accounting to evolve into a common language. Thus, a specialstandard is needed for SMEs, which will enhance reliance on the SME financial statements, enrich comparabilityopportunities for statements users, improve access to local or international capital, establish governance and boostinternational trade opportunities especially for SMEs which are in a process of becoming publicly held. Theaim of this paper is to shed light on the National Financial Reporting Framework by providing international standard setting practices
