Inflation Accounting in Terms of Tax Legislation and Accounting Standards in Turkey

Inflation is the level of prices increasing at a substantial rate over some time, thus requiring more money each year to buy given amount goods and services. Financial statements are instruments an enterprise that show financial situation outcomes functions. In high inflationary periods, if they reported in monetary unit identicalhyperinflationary economy do not reflect real activity entity. Many arrangements have been made prevent negative effects inflation on presentation tables Turkey. The most important regulation eliminate impact Tax Procedural Law No. 5024, Amending Income Law, Corporate Law. addition, Public Oversight Organisation has published TAS 29 Turkish Accounting Standards Chapter 25 Reporting Standard for Large Mediumsized Entities, Hyperinflationary Economies. recent years, remained double-digit points this study, accounting analyzed terms tax legislation standards found firstly, prerequisite application adjustment kept based only Statistical Institute'sdata, secondly deficiencies related finally mismatches between standards. aim study determine inthe practice propose solutions. literature review was conducted.