ACCOUNTING SYSTEMS IN GOVERNMENTAL ACCOUNTING & ASSSESSMENT OF FULL ACCRUAL BASIS IN TERMS OF GAS 1 PRESENTATION OF FINANCIAL STATEMENTS

This paper examines GAS 1 Presentation of Financial Statements in comparison with IPSAS 1 as one of the Turkish Governmental Accounting Standards (GAS) that were prepared in the light of full accrual basis and International Public Sector Accounting Standards (IPSAS) after focusing on governmental accounting systems (cash accounting, modified cash accounting, full accrual accounting and modified accrual accounting) that were adopted by International Federation of Accountants. This research points out that Turkish public sector entities whose financial statements are prepared in accordance with Turkish GASs cannot declare that their financial statements are in compliance with IPSASs as well due to the fact that complete set of financial statements in GAS 1 are not fully in compliance with those of IPSAS 1