Second Stage in the Accounting Thought of the Republic: The Period of Liberal Economy Policies (1950 – 1980)

The mixed economy model initiated with the Republic by Atatürk encouraged the establishment of public economic enterprises as well as the private sector. However, this policy concentrated heavily towards the private sector with the liberal economy policies of the Democratic Party as of 1950. This change increased the number of small sized enterprises as well as the number of businessman and accountants. Economics and commercial sciences academies, and new universities grew rapidly and aimed to serve the purpose.Management accounting and business finance also started to become part of the educational world. However, it is noteworthy that the integration efforts of the Turkish accounting thought with Western Europe, which was initiated with the Tanzimat Edict of 1839 and the Turkish Commercial Code of 1850, paused during this era and no new initiative has been made in this regard