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Purpose- The purpose of this study is to explain the differences between IFRS and Turkish Tax Procedure Law (TPL), give information about how financial statements are presented according to TPL and IFRS, and show the presentation of financial statements in practice by specifying the theoretical and application differences in the two frameworks. Methodology- Within the scope of this research, the balance sheet and income statements were explained in detail in terms of TPL and IFRS applications on account basis, correction and classification records were made within the scope of IFRS, and the financial statements were reproduced for a sample firm. Findings- The general validity of the financial statements prepared by each country according to its own rules is lower than the general validity of the financial statements prepared according to IFRS. Financial statements prepared in accordance with IFRS are standardized with a single application integrity. Conclusion- With the implementation of IFRS, it is ensured that all financial statement readers, regardless of country, company or location, gather under a single standard, under a single roof, and interpret the reporting in the same way. Thus, it will increase confidence, transparency and stability in the markets for users of financial statements. Keywords: International Financial Reporting Standards (IFRS), Tax Procedure Law (TPL), financial statements, accounting standards. JEL Codes: M40, M41, M42 |
