It is one of the basic concepts of Turkish accounting practice and is applied together with the accrual basis. Period-end accrual and deferral entries (such as accounts 180, 280, 380 and 480) result from it.
Source: Muhasebe Sistemi Uygulama Genel Tebliği (MSUGT)
Related terms
Accrual basis of accountingThe principle of recording transactions as income, expenses, assets and liabilities in the period in which they occur, rather than when cash is received or paid.Completion accountsFinancial statements prepared as at the closing date of an acquisition, through which the final price is set by net debt and working capital adjustments.Uniform chart of accountsThe chart of accounts used by taxpayers keeping books on a balance sheet basis, standardising the codes and names of accounts.Accounting estimatesThe determination by management judgement of amounts that cannot be measured precisely, such as provisions, useful lives, expected credit losses and fair values.Accounting policiesThe specific principles, bases, conventions, rules and practices an entity applies in preparing its financial statements.Allowance for doubtful receivablesAn allowance made for receivables whose collection has become doubtful, recognising the expected loss as an expense.
Last updated: October 31, 2026 · This definition is for general information only.