Efficiency of Accounting Information Systems in Turkey and the Need for Inflation Accounting Practices

During the last quarter of the 20th century, financial statements gave inaccurate informations because of the high inflations that occurred in Turkey. The concept of inflation accounting occurred during that period and created a literature. On one side, academics tried to fix the misleading accounting informations and on the other side the state began to develop regulations in order to overcome fictional taxations. Successful precautions and practices aimed to eliminate the inflationary effects on balance sheets and income statements. Precautionary regulations generally moved on towards the new century