International Journal of Business Economics and Management Perspectives

ISSN:2458-8997

ACCOUNTING OF SELL AND LEASE BACK TRANSACTIONS BY TFRS 16 AND COMPARISON WITH BOBİ FRS


As a result of the developments in accounting and auditing in our country, Turkish Financial Reporting Standards 16 Leasing Standard has been started to be applied as of 01.01.2019 with the regulations made by Public Oversight Accounting and Auditing Standards Authority and TAS 17 Leases standard has been abolished.Turkish Financial Reporting Standards16 sets out the principles for the presentation, measurement, presentation and disclosure of leases. The aim of the standard is to provide appropriate information for leaser and lessees and to made transactions truthfully. This information is the basis for evaluating the impact of the leases on the business’s financial position, financial performance and cash flows by users of financial statements. In the standard, significant changes occurred in the accounting of the leasing transactions, especially for the lessees. In this study, the subject of accounting for sales and leas back transactions in accordance with Turkish Financial Reporting Standards 16 will be discussed, the amendments to Turkish Financial Reporting Standards 16 will be explained and compared with Financial Reporting Standard for Large and Medium Size Enterprises (BOBİ FRS) Section 15.


Keywords


Sale and Lease Back, Financial Leasing, Turkish Financial Reporting Standards16

Author : Ahmet Fethi Durmuş -Fikret OTLU
Number of pages: 84-97
DOI: http://dx.doi.org/10.29228/ijbemp.41904
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International Journal of Business Economics and Management Perspectives
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