Abstract:

The aim of this study is to identify the differences and problems by comparing the need and reality-friendly presentation point of the Murabaha financing method, which is one of the interest-free financing methods, in terms of the Turkish Accounting Standards (TMS) and interest-free Financial Accounting Standards (FFMS) published by the Public Supervisory Authority (KGK) and presenting solutions suggestions in this direction. In the study, the Turkish Accounting Standards and Interestless Financial Accounting Standards related to the Murabaha financing method have been studied and the accounting principles have been revealed by the Banking Regulatory and Supervisory Authority (BDDK) to provide accounting according to the single order accounting plan published for participating banks. The study found that there was a difference between the two arrangements in the essence priority and legal priority. According to this, Uninterested Financial Accounting Standards predict the legal aspect of a transaction, while the Turkish Accounting Standards predict the economic essence of a transaction. This situation shows the difference between the two standards in the monitoring of the goods concerned as stocks. Consequently, if the funding is accounted in accordance with the Non-Profit Financial Accounting Standards, some updates to the accounting plan in question must be made.

Keywords: