Framework for Local Financial Reporting and Financial Reporting Standard for Large and Medium Sized Entities: A Literature Review (2016 - 2017) Cover Image

Yerel Finansal Raporlama Çerçevesi ve Büyük ve Orta Boy İşletmeler için Finansal Raporlama Standardı: Bir Literatür İncelemesi (2016 - 2017)
Framework for Local Financial Reporting and Financial Reporting Standard for Large and Medium Sized Entities: A Literature Review (2016 - 2017)

Author(s): Can Öztürk
Subject(s): Politics, Economic policy, Present Times (2010 - today), Accounting - Business Administration
Published by: İşletme Araştırmaları Dergisi
Keywords: FRS for LMEs; FLFR; Turkey; Financial Reporting; Literature Review;

Summary/Abstract: In Turkey, financial reporting is regulated by Turkish Public Oversight, Accounting and Auditing Standards Authority within the framework of the concepts of independent audit and public accountability. For the purpose of financial reporting, entities that are subject to independent audit and publicly accountable are subject to Turkish Financial Reporting Standards (TFRS) that are in compliance with International Financial Reporting Standards; however, entities that are not publicly accountable but subject to independent audit have two options either to use TFRS or Financial Reporting Standard for Large and Medium Sized Entities (FRS for LMEs). This paper focuses on a literature review related to the papers published in referred journals on the recently published FRS for LMEs and its draft predecessor which was called as Framework for Local Financial Reporting (FLFR) and offers suggestions for future research.

  • Issue Year: 10/2018
  • Issue No: 1
  • Page Range: 763-781
  • Page Count: 19
  • Language: Turkish