Özet:

Information asymmetry is a concept that points to the imbalance of information between the parties. It is not only theoretically but also practically impossible to share the whole information about the enterprises with the social stakeholders. However, at least, it is essential that qualified information to adequately meet their information needs should be obtained for social parties who need to make an economic decision about the enterprise. The information presents in financial reports, and activity reports if activity reports has been publishing. The financial reporting framework sets out what should be presented at a minimum level in the financial reports. The financial reporting framework includes provisions of applicable legislation in that country. Financial reporting frameworks can be divided into 3 groups according to public accountability, or independent audit criteria. In this grouping which influences different types of are Turkish (also can be called as international) Uniform Accounting System (TUAS), the Financial Reporting Standard for Large and Medium-Size Businesses (BOBI FRS) and Turkey Financial Reporting Standards (IFRS). TUAS has been valid for every business since January 1, 1994, regardless of its type and nature. BOBI FRS is a framework that is subject to independent audit and is applied to the preparation of individual and consolidated financial statements of the companies that do not apply the IFRS. Another financial reporting framework is IFRS. This framework is legalized after the translation of international standards into Turkish. The purpose of this study is to examine whether the Set of Standards of Financial Reporting plays a role in decreasing the information asymmetry than TUAS. For such an investigation, the operating example is based on the implementation of both systems. In other words, the public enterprise example was used.

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