Comparison of TAS1 and IFAS1 Accounting Standards and Evaluation of Participation Banks

Sezin Açık Taşar

Makale detayları

Comparison of TAS1 and IFAS1 Accounting Standards and Evaluation of Participation Banks

Yazarlar:

Sezin Açık Taşar

Yayıncı:

Fırat University

Dergi:

Fırat Üniversitesi Sosyal Bilimler Dergisi Vol.33 Issue 1, pp.371-382

Belge Tipi:

Makale

Yayın Tarihi:

1/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001282689

pISSN:

1300-9702

Anahtar kelimeler:

Özet:

 On investment decisions, Turkish Accounting Standards TAS was for financial statement information users and Interest-Free Financial Accounting Standards IFAS was in accordance with Islamic beliefs. The aims of the study are comparing TAS1 and IFAS1 and determining the differences and similarities. According to the results, there are differences between the full set financial statements of two standards. There are similar practices between two standards in terms of rounding degree, netting, cross-referencing with footnotes and changes in accounting policies. Unlike TAS1, one of the differences in IFAS1 is not to classify assets and liabilities as short-term and long-term. Another difference is net profit loss figures are reached after paying zakat along with tax in income statement. In IFAS1, assets, liabilities, unrestricted investment accounts cannot be combined without explanation. It was also investigated whether six participation banks in Turkey reported in accordance with IFAS standards in the study. It was determined that two banks only applied IFAS standards for their loans, but the general framework was determined as Turkish Financial Reporting Standards TFRS, while the remaining four banks reported in accordance with TFRS standards. It will have expected the study will help researchers on the use of IFAS standard in future studies.

 On investment decisions, Turkish Accounting Standards TAS was for financial statement information users and Interest-Free Financial Accounting Standards IFAS was in accordance with Islamic beliefs. The aims of the study are comparing TAS1 and IFAS1 and determining the differences and similarities. According to the results, there are differences between the full set financial statements of two standards. There are similar practices between two standards in terms of rounding degree, netting, cross-referencing with footnotes and changes in accounting policies. Unlike TAS1, one of the differences in IFAS1 is not to classify assets and liabilities as short-term and long-term. Another difference is net profit loss figures are reached after paying zakat along with tax in income statement. In IFAS1, assets, liabilities, unrestricted investment accounts cannot be combined without explanation. It was also investigated whether six participation banks in Turkey reported in accordance with IFAS standards in the study. It was determined that two banks only applied IFAS standards for their loans, but the general framework was determined as Turkish Financial Reporting Standards TFRS, while the remaining four banks reported in accordance with TFRS standards. It will have expected the study will help researchers on the use of IFAS standard in future studies.

 On investment decisions, Turkish Accounting Standards TAS was for financial statement information users and Interest-Free Financial Accounting Standards IFAS was in accordance with Islamic beliefs. The aims of the study are comparing TAS1 and IFAS1 and determining the differences and similarities. According to the results, there are differences between the full set financial statements of two standards. There are similar practices between two standards in terms of rounding degree, netting, cross-referencing with footnotes and changes in accounting policies. Unlike TAS1, one of the differences in IFAS1 is not to classify assets and liabilities as short-term and long-term. Another difference is net profit loss figures are reached after paying zakat along with tax in income statement. In IFAS1, assets, liabilities, unrestricted investment accounts cannot be combined without explanation. It was also investigated whether six participation banks in Turkey reported in accordance with IFAS standards in the study. It was determined that two banks only applied IFAS standards for their loans, but the general framework was determined as Turkish Financial Reporting Standards TFRS, while the remaining four banks reported in accordance with TFRS standards. It will have expected the study will help researchers on the use of IFAS standard in future studies.

 Finansal tablo kullanıcılarının doğru ve güvenilir kararlar alabilmesi için Türkiye Muhasebe Standartları TMS ve İslami inançlara uygun yatırım kararları için Faizsiz Finans Muhasebe Standartları FFMS finansal tablolara ilişkin genel sunum ve açıklamaları ifade etmektedir. Bu çalışmanın amacı, TMS1 Finansal Tabloların Sunuluşu ve FFMS1 Katılım Bankaları ve Faizsiz Finans Kuruluşlarının Finansal Tablolarında Genel Sunum ve Açıklama standartlarını karşılaştırmak, standartlara ilişkin farklılıklar ve benzerlikler tespit etmektir. Çalışmanın sonuçlarına göre, FFMS1 ve TMS1 standartlarının tam set finansal tabloları arasında farklılıklar vardır. TMS1 ve FFMS1 standartları arasında yuvarlama derecesi, netleştirme, dipnotlarla çapraz referanslama ve muhasebe politikalarında değişiklik konularında benzer uygulamalar yer almaktadır. FFMS1de TMS1e göre farklı olarak hükümlerden biri varlıklar ve yükümlülüklerin kısa ve uzun vadeli olarak sınıflandırılmamasıdır. Bir diğer farklılık, gelir tablosunda vergi ile beraber zekat karşılığı da ödendikten sonra net kâr zarar rakamlarına ulaşılmaktadır. FFMS1de TMSden farklı olarak, varlıklar, yükümlülükler, kısıtlanmamış yatırım hesapları ve benzerleri açıklama yapılmadan birleştirilemez. Çalışmada ayrıca, Türkiyedeki altı katılım bankasının FFMS standartlarına uygun raporlama yapıp yapmadığı araştırılmış, iki bankanın sadece kredileri için FFMS standartlarını uyguladığı fakat genel çerçevenin TFRS olarak belirlendiği, kalan dört bankanın ise TFRS standartlarına uygun raporlama yaptığı belirlenmiştir. Çalışmanın ilerde konuyla ilgili yapılacak çalışmalarda FFMS standartının kullanım alanları konusunda araştırmacılara yardımcı olması beklenmektedir.

Makale detayları

Comparison of TAS1 and IFAS1 Accounting Standards and Evaluation of Participation Banks

Yazarlar:

Sezin Açık Taşar

Yayıncı:

Fırat University

Dergi:

Fırat Üniversitesi Sosyal Bilimler Dergisi Vol.33 Issue 1, pp.371-382

Belge Tipi:

Makale

Yayın Tarihi:

1/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001282689

pISSN:

1300-9702

TAS1

IFAS1

Accounting Standards

Participation Bank

Interest-free Finance

TMS1

FFMS1

Muhasebe Standartları

Katılım Bankası

Faizsiz Finans

Sayı

Makale detayları

Yazarlar: Sezin Açık Taşar

Yayıncı: Fırat University

Dergi: Fırat Üniversitesi Sosyal Bilimler Dergisi Vol.33 Issue 1, pp.371-382

Belge Tipi: Makale

Yayın Tarihi: 1/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001282689

pISSN: 1300-9702

Sayı

Yazarlar:

Sezin Açık Taşar

Yayıncı:

Fırat University

Dergi:

Fırat Üniversitesi Sosyal Bilimler Dergisi Vol.33 Issue 1, pp.371-382

Belge Tipi:

Makale

Yayın Tarihi:

1/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001282689

pISSN:

1300-9702