Public Oversight Accounting and Auditing Standards Authority has brought amendments for TMS-16 Pr... more Public Oversight Accounting and Auditing Standards Authority has brought amendments for TMS-16 Property, Plant & Equipment and TMS-41 Agriculture with the statements no. 30 & 31 published in 12.11.2014. According to the mentioned statements “bearer plants” are now included in fixed assets. With the seperation of agricultural produce reported under TMS-41 prior to the statements, the bearer plants have been recognized and defined as an asset considered within TMS-16. The objective of this study is to explain and show the latest amendments affecting initial recognition and measurement of the bearer plants. For this, the statements published no. 30 & 31 and amendments in TMS-16 and TMS-41 are examined.
Concept of corporate governance gained a significant importance and inadequacy of sound corporate... more Concept of corporate governance gained a significant importance and inadequacy of sound corporate governance practices attributed to be one of the most important underlying factors behind the cause of both recent global financial crises and company scandals throughout the world which have engulfed financial markets and economies. Motivation of this study is to examine the extent of voluntary disclosure in annual reports and web-sites of companies to find out whether the variables that researchers have found to be significant in explaining voluntary disclosure practices in developed countries apply in a developing country – Turkey. Turkey is chosen among the other developing countries because it is believed to be a country with special characteristics then most of the other countries since legal, political, economic system of the country are a composition of different practices. On the other hand much of the evidence on corporate governance in Turkey is descriptive issues there is currently no empirical evidence available on the relationship between the extent of voluntary disclosure and corporate governance characteristics of listed Turkish non-financial companies. Objectives of this study twofold: First, it analyses the theoretical relationship between voluntary disclosure and several corporate governance components - board characteristics and ownership structure. Board characteristics are examined in terms of board size, proportion of independent members on the board and CEO / chairman duality; ownership structure is examined in terms of institutional ownership and family ownership. The managerial ownership is not considered in this study since firms in Turkey mostly owned either by institutions or families and the share of firms owned by their managers are relatively small. Second, it provides empirical evidence on the relation between the indicated corporate governance components and voluntary disclosure. For this purpose a disclosure checklist is developed from the second section of Corporate Governance Principles of Capital Markets Board (CMB) of Turkey on “Public Disclosure and Transparency” and by the help of this checklist annual reports for the year of 2010 and web-sites of the non-financial companies in Istanbul Stock Exchange (ISE)-100 are examined. The Poisson regression model is designed to fit a model. Our results suggest that the extent of voluntary disclosure is significantly positively associated with board size and the proportion of independent members on the board and significantly negatively associated with the level of family ownership. CEO /chairman duality is found to be positively associated with the extent of voluntary disclosure but surprisingly it is insignificant.
Public Oversight Accounting and Auditing Standards Authority has brought amendments for TMS-16 Pr... more Public Oversight Accounting and Auditing Standards Authority has brought amendments for TMS-16 Property, Plant & Equipment and TMS-41 Agriculture with the statements no. 30 & 31 published in 12.11.2014. According to the mentioned statements “bearer plants” are now included in fixed assets. With the seperation of agricultural produce reported under TMS-41 prior to the statements, the bearer plants have been recognized and defined as an asset considered within TMS-16. The objective of this study is to explain and show the latest amendments affecting initial recognition and measurement of the bearer plants. For this, the statements published no. 30 & 31 and amendments in TMS-16 and TMS-41 are examined.
Concept of corporate governance gained a significant importance and inadequacy of sound corporate... more Concept of corporate governance gained a significant importance and inadequacy of sound corporate governance practices attributed to be one of the most important underlying factors behind the cause of both recent global financial crises and company scandals throughout the world which have engulfed financial markets and economies. Motivation of this study is to examine the extent of voluntary disclosure in annual reports and web-sites of companies to find out whether the variables that researchers have found to be significant in explaining voluntary disclosure practices in developed countries apply in a developing country – Turkey. Turkey is chosen among the other developing countries because it is believed to be a country with special characteristics then most of the other countries since legal, political, economic system of the country are a composition of different practices. On the other hand much of the evidence on corporate governance in Turkey is descriptive issues there is currently no empirical evidence available on the relationship between the extent of voluntary disclosure and corporate governance characteristics of listed Turkish non-financial companies. Objectives of this study twofold: First, it analyses the theoretical relationship between voluntary disclosure and several corporate governance components - board characteristics and ownership structure. Board characteristics are examined in terms of board size, proportion of independent members on the board and CEO / chairman duality; ownership structure is examined in terms of institutional ownership and family ownership. The managerial ownership is not considered in this study since firms in Turkey mostly owned either by institutions or families and the share of firms owned by their managers are relatively small. Second, it provides empirical evidence on the relation between the indicated corporate governance components and voluntary disclosure. For this purpose a disclosure checklist is developed from the second section of Corporate Governance Principles of Capital Markets Board (CMB) of Turkey on “Public Disclosure and Transparency” and by the help of this checklist annual reports for the year of 2010 and web-sites of the non-financial companies in Istanbul Stock Exchange (ISE)-100 are examined. The Poisson regression model is designed to fit a model. Our results suggest that the extent of voluntary disclosure is significantly positively associated with board size and the proportion of independent members on the board and significantly negatively associated with the level of family ownership. CEO /chairman duality is found to be positively associated with the extent of voluntary disclosure but surprisingly it is insignificant.
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TMS-41 prior to the statements, the bearer plants have been recognized and defined as an asset considered within TMS-16. The objective of this study is to explain and show the latest amendments affecting initial recognition and measurement of the bearer plants. For this, the statements published no. 30 & 31 and amendments in TMS-16 and TMS-41 are examined.
TMS-41 prior to the statements, the bearer plants have been recognized and defined as an asset considered within TMS-16. The objective of this study is to explain and show the latest amendments affecting initial recognition and measurement of the bearer plants. For this, the statements published no. 30 & 31 and amendments in TMS-16 and TMS-41 are examined.