Comparison of TFRS, BOBI FRS, KUMI FRS and General Communiqué on Application of Accounting System (MSUGT) in terms of Tangible Fixed Assets and Depreciation

Tangible fixed assets have an essential place in the balance sheet, and accurate calculation of costs, valuation, depreciation, and accurate presentation of related financial statements are crucial. There are regulations in Turkish Financial Reporting Standards (TFRS), Financial Reporting Standard for Large and Medium-sized Entities (BOBI FRS), Financial Reporting Standard for Small and Micro Entities (KUMI FRS) and General Communiqué on Application of Accounting System (MSUGT) tax applications related to tangible fixed assets. The purpose of this study, which is carried out by scanning standards and legislative provisions, is to identify similar and different aspects by comparing these regulations that form different reporting frameworks. In addition, emphasizing the differences and similarities between standards and tax regulations used in MSUGT applications and contributing to the literature and applications are among the aims of the study. As a result, even though there are many similarities within the framework of TFRS, BOBI FRS, and KUMI FRS draft, borrowing costs and delay interest separation issues are different among standards. However, there are essential differences between tax regulation and standards that aim informational reporting, especially in terms of depreciation and measurement in the following periods.