Evaluation of Accounting Policies Released in Financial Table Footnotes of Entities Trading in İstanbul Stock Exchange from the Perspective of Turkey Accounting Standard 40 (Investment Property Standard)

Abstract

Entities trading in Istanbul Stock Exchange have to prepare their financial tables according to International Accounting/Financial Reporting Standards. Turkey Accounting Standard 40 “Investment Property Standard” is one of these standards that must be executed by the entities trading in ISE. In this standard, as in some of other standards, alternative methods that can be selected by entities in accounting practices and matters that must be explained in financial table footnotes are indicated. Within the study, first of all Turkey Accounting Standard 40 ‘Investment Property Standard’ is explained. And then, financial tables and financial table footnotes dated 31.12.2012 of 259 entity trading in ISE and subjected to Capital Markets Board of Turkey, are investigated. As a result of the mentioned investigation, selected accounting policies related to investment property due to Turkey Accounting Standard 40 and if some important matters that must be expalined in financial table footnotes are expalined or not is exposured by sectors. At the end of the investigation, it is seen that, the entities do not show the needed sensitivity to declare the accounting policies they use and mandatory matters in their financial table footnotes.