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Comparative Analysis Of Tax Procedure Law, Turkish Financial Reporting Standards For Large And Medium-Sized Enterprises (FRS), And TAS 2 Regarding Elements That Form The Costs In Inventories

Author

Listed:
  • Hüseyin Mert
  • Haluk Mert
  • Didem Özçelik

    (Istanbul Okan University)

Abstract

Assets acquired for the purpose of sale or consumption in enterprises constitute inventories. In terms of their intended use, inventories are classified as raw materials and supplies, work in progress, finished goods, service costs, and other inventories. Inventories hold a significant place among the assets of a business both in terms of the functions they perform and their numerical magnitude. In our country, there are three regulations that guide accounting practices: the Tax Procedure Law, the Financial Reporting Standard for Large and Medium-Sized Enterprises (FRS) and Turkish Financial Reporting Standards (TFRS). The regulatory authority has determined through legislation which regulation businesses will be subject to on an individual basis.

Suggested Citation

  • Hüseyin Mert & Haluk Mert & Didem Özçelik, 2024. "Comparative Analysis Of Tax Procedure Law, Turkish Financial Reporting Standards For Large And Medium-Sized Enterprises (FRS), And TAS 2 Regarding Elements That Form The Costs In Inventories," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 39(121), pages 1-17, April.
    • Handle: RePEc:acc:malfin:v:39:y:2024:i:121:p:1-17
    DOI: https://doi.org/10.33203/mfy.1420804
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    More about this item

    Keywords

    Accounting for Inventory; Inventory in Turkish Tax Procedure Law (TPL); Cost of Inventory in Turkish Accounting Standard for Inventory (TMS-2).;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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