Concept of Value in Accounting: A Review in The Context of Turkey

Abstract

When we look at the concept of value through accounting, it is possible to talk about three main concepts. These can be classified as; the historical cost accounting method, the accounting measurement principles used in the inflation period and the fair value. When accounting practices and regulations in Turkey are examined, it is encountered with valuation types according to Tax Legislation and Turkish Accounting Standards. In this study, firstly, the studies in the literature about the development and change of the accounting valuation methods used have been examined historically. When the differences between the aims of the valuation according to the provisions of various legislations are examined; The Tax Procedural Law has state-oriented perspective in its valuation approach, The Turkish Commercial Code is rather approaching the subject in terms of the operation of commercial practices and Turkish Accounting Standards/Turkish Financial Reporting Standards expect assets and resources to reflect the true economic and financial situation of the companies. In the study, articles and thesis studies on the concepts of value and valuation in the accounting literature in Turkey until 2017 were examined. Purpose of this; The aim of this study is to reveal the aspects of the concepts of value and valuation in the context of accounting and which issues come to the fore periodically. It has been concluded that the legal regulations in Turkey and academic studies show parallelism in terms of periodicity.