Muhasebenin Uluslararas Harmonizasyonu ve lke Bazl Muhasebe Anlay na Y neli (International Harmonization of Accounting and The Drift Towards A Principle-Based Accounting Approach)

Globalization resulted in the entrance of enterprises into the capital market without any obstacle; globalization of accounting and thus; revealed the obligation of creating an internationally-accepted common accounting standards and harmonizing them. Turkish Code of Commerce (TCC) No. 6102 obliges all the enterprises to comply with the Turkish Accounting Standards and Turkish Financial Reporting Standards (TAS/TFRS). As a result, correctly understanding the financial position, financial performance and financial analysis of an enterprise for enterprise owners and stakeholdsers who expect financial information from the enterprise is the indicator of an international standardization. The present study addresses international harmonization of accounting and the drift towards a principle-based accounting approach within the framework of the new TCC. After the literature research on international harmonization of accounting, compliance with the International Financial Reporting Standards (IFRS) and principle-based accounting approach, the process of obligatory application of the IFRS was addressed on a conceptual basis. Furthermore, compliance with the IFRS and the drift towards a principle-based accounting approach were addressed; and some regulations concerning financial reporting in the new TCC were examined in terms of the accounting standard set to be applied and financial statements to be prepared.