Abstract:

First Turkish commercial code that affected the Turkish accounting thought was issued in 1850. This commercial code was the translation of Napoleon’s Code de Commerce and brought the double entry accounting system to Turkey. However, double entry accounting system was not practiced in Turkey at the time. Because of the present Islamic rules in commercial life, it was not possible to benefit from the method. This code worked as a mediate between the integration of West Europe and Turkey’s commercial rules and accounting thought. This can be observed as the most important aspect of this code. This code was made suitable for the conditions of the Republic period and was issued once again in 1926 and 1957. New Turkish commercial codes functioned as an integration tool between Turkish accounting thought and western European countries over a period of 150 years. Turkish Commercial Code numbered 6102 was issued in 2011 and functioned as a vessel to carry Turkish accounting thought into a different extent. This different extent is the globalization of economy. It brought requirement of international financial reporting standards and international auditing standards, which can be described as a way to globalize Turkish accounting thought and a new era for Turkish accounting world. Today, mentioned standards have restricted usage in Turkey and a debate is going on regarding the practical implications of its interinstitutional usage.

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