Comparison of in Terms of Accounting Standards, ReGülations and ReGülating Bodies Turkey with Bosnia and Herzegovina

Abstract

In the globalisation process, rapid economic developments in the competitive environment have revealed the need for changes in accounting. As a result of efforts to create a common language in accounting, International Financial Reporting Standards have entered into force, and efforts to adapt rapidly by countries continue. Bosnia and Herzegovina, and Turkey are among these countries that implement International Financial Reporting Standards. In this study, the similarity and differences between Turkey and Bosnia and Herzegovina have been compared. Although both countries apply the International Financial Reporting Standards, the uniform chart of accounts structure differs. The balance sheet structures are not the same, but they are similar.