The development of inflation accounting in Turkey

Aylin Poroy Arsoy and Umit Gucenme

CRITICAL PERSPECTIVES ON ACCOUNTING, 2009, vol. 20, issue 5, 568-590

Abstract: Turkey, as a developing country, suffered from high inflation rates for many years. However inflation accounting was not applied till the year 2003 because of some political reasons. The high rates of inflation heavily distorted the financial statements of the companies in Turkey. The companies tried to benefit from the incentives in the Turkish Tax Regulation negating the effect of inflation till the year 2003. At the beginning of 2004 inflation accounting was applied at last. The purpose of this study is to emphasize the effects of inflation on the companies in Turkey and what they did in order to protect from the distortions of inflation till the year 2003. Also the regulations of the Ministry of Finance and Capital Market Board considering inflation adjustment were examined and compared by illustrations.

Keywords: Turkey; Inflation; Inflation accounting; Inflation adjustment; Turkish accounting system; Capital Market Board of Turkey; Turkish Ministry of Finance; Turkish accounting standards (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:crpeac:v:20:y:2009:i:5:p:568-590

DOI: 10.1016/j.cpa.2008.01.006

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