IFRS/US GAAP Financial Statements Compilation Services

We convert financial statements from the statutory accounts that are drawn up according to Turkish Tax Legislation to, a set of financial statements and footnotes in accordance with the Turkish Accounting Standards (TAS) and Turkish Financial Reporting Standards (TFRS) published by the Public Oversight Authority (KGK) which comply with International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). The set of financial statements include; the Statement of Financial Position, Profit or Loss and Other Comprehensive Income Statement, Statement of Shareholders' Equity and Statement of Cash Flows. Footnotes cover all footnotes that must be prepared according to the display standards in IAS/IFRS.

We prepare the consolidated financial statements in accordance with IFRS if the relevant parent company has one or more subsidiary or affiliates.

In accordance with IFRS/US GAAP principles; if the functional currency is a currency other than the Turkish Lira, we convert the financial statements of the business in its local currency into functional and reporting currencies in accordance with IAS 21.

Elerman Advisory Difference;
Our partners have applied IFRS principles to hundreds of companies for nearly 30 years. IFRS is a set of principles-based standards, and therefore the implementation of the accounting and financial reporting principles of each standard requires professional experience for businesses in different industries. Elerman Advisory partners have gained this wealth of experience both in their independent audit and in their private sector careers.