Acta Universitatis Danubius. Œconomica, Vol 10, No 1 (2014)

Abstract

Objectives: The purpose of this article was to review the historical evolution of accounting in the late Ottoman Empire and the modern Republic of Turkey.

Prior Work: This paper is trying to extant a research to observe the historical development of accounting practices in Turkey. During the analyses around 2 authors’ books were related to this paper.

Approach: During the study it was focused to collect information observation through published academic books and articles.

Results: The empirical studies, evidence or experiences presented in the part of conclusion that the accounting system of Turkey have had a considerable development since the establishment of the Republic of Turkey (1923).

Implications: An overview of Turkish and global sources suggested the importance of the following themes: (a) immature capitalism and a strongly hierarchical monarchy in the Ottoman Empire retarded the development of modern accounting; and (b) maturing capital and integration with the global market, especially after the decline of the one-party state system, led to the adoption of modern accounting systems and standards in the Republic of Turkey.

Value: The historical overview thus provides an illustrative discussion of how and why Turkish accounting has evolved over the past years.