THE DEVELOPMENT OF PROFIT DEFINITION WITHIN THE THEORY OF ACCOUNTING AND INVESTIGATION OF ITS PRESENTATION IN THE CURRENT FINANCIAL REPORTS AS A COMPARATIVE STUDY

Profit is a primary source of information when evaluating an entity’s business performance, assessing its creditworthiness and efficiency and also determining the profit distribution policy, taxation and stock prices. In this study, after the extensive definitions of profit and its elements are made within the framework of “valuation principles” and “capital and capital maintenance” in accounting theory, the new regulations that have been put into force in the new Conceptual Framework published in 2018 are explained. Also, to determine whether there is a universal application in terms of the presentation of profit and its elements, the income statements and the relevant footnotes of England, France, Germany, America, Australia, China and Turkey are examined and the findings are explained