The Turkish Accounting Standards (TAS) is in line with the international standards. The new TCC aim is that:
- Uniform implementation in accounting and reporting practices in Turkey is ensured,
- The financial statements prepared according to the TAS will be comparable to the financial statements prepared according to International Financial Reporting Standards and as a result the TAS will be accepted in the international market.
Concepts such as substance over form, true and fair view, comparability and materiality that did not have a significant role in the previous Turkish accounting system have been included in the conceptual framework of the TAS.
