DIFFERENCES IN LEGAL REGULATIONS RELATED WITH FINANCIAL INSTRUMENTS IN TURKEY AND THE POSITION OF FINANCIAL INSTRUMENTS IN THE BALANCE SHEETS OF BUSINESSES
Financial instruments are contracts that causing to raises with financial assets of a business and in the financial liabilities or equity instrument of other a business. Financial instruments according to TAS/TFRS as classified financial assets, financial liabilities, equity instruments and derivati...
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| Formato: | article |
| Lenguaje: | DE EN FR TR |
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Fırat University
2019
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| Acceso en línea: | https://doaj.org/article/7d7dddc820994d11b440e61e845f4871 |
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| Sumario: | Financial instruments are contracts that causing to raises with financial assets of a business and in the financial liabilities or equity instrument of other a business. Financial instruments according to TAS/TFRS as classified financial assets, financial liabilities, equity instruments and derivative financial instruments. Financial instruments have gained recently great importance because have located at great amounts in the balance sheets of businesses. Being at the great amounts of financial instruments has brought to the agenda that business’s these instruments to how matter will account. Accounting of financial instruments has a place in a great importance in terms of businesses and other decision makers (investors, creditors, government etc.). In the study differences related with financial instruments in legal regulations and position of financial instruments in the balance sheets of businesses have investigated in Turkey. In addition financial assets, financial liabilities, equity instruments and derivative financial instruments have been explained. In Turkish Accounting-Financial Reporting Standards (TAS/TFRS) have included related to financial instruments standards such as TAS/IAS 32: Financial Instruments: Presentation, TAS/IAS 39 Financial Instruments: Accounting and Measurement, TFRS/IFRS 7 Financial Instruments: Disclosures and TFRS/IFRS 9 Financial Instruments. Turkish Accounting Standard 32 has determined principles related to classification of financial instruments as financial assets, financial liabilities and equity instruments and offsetting of financial assets and liabilities. Also Turkish Accounting Standard 39 has determined principles related to accounting of financial assets and liabilities. TAS 32 and TAS 39 have seen as complex and difficult to understand accounting standards around the world. TFRS 7 and TFRS 9 are standards related to reporting of financial instruments. |
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