Republic of Turkey, Undersecretariat of Treasury has published The Communique number 2008-32/35 which has allowed banks to grant credits on gold, silver and platinum. Although, gold credits that have granted by banks have reached a volume of 2.273,2 Million Turkish Liras date 31.03.2016, there are no explanatory and regulatory information how to measure and accounting those loans in Turkish tax legislation. Similarly, Turkish Accounting and Financial Reporting Standards has no adequate explanation of the measurement and presentation about commodity loans which are not considered as financial instruments. In this article, we shows the Turkish Tax Procedure Law’s and Turkish Accounting and Financial Reporting Standards’ measurement and accounting principles of commodity loans which are not considered as financial instruments according to Turkish Accounting and Financial Reporting Standards.

Elective courses, provide students development in terms of interest and ability consist important part of education system and can be used as effective tool for making career plan. Additionally they play important role in curriculum and education quality development. In this study selection criteria of accounting elective courses in business undergraduate and accounting graduate education are determined from the viewpoint of students. For this purpose survey consisting of course selection main criteria and sub-criteria was designed and conducted with final year students in business administration undergraduate and accounting graduate level students via four different fuzzy ranking methods. Furthermore, result of this methods were compared too.

In this research, strategic plans, which were prepared by 10 Metropolitan Municipalities in Turkey for the period of 2015-2019, were analysed and to what extent environment and city topics were given place in these plans was put forward comparatively. Content analysis technique was benefited from as the research method. While there are 30 Metropolitan Municipalities in Turkey as of March 2016; 10 of them with the highest populations were taken into the scope of the research. Cities among the researched Metropolis that have the most comprehensive plans have been İstanbul (288 pages), İzmir (227 pages) and Gaziantep (226 pages), respectively. Cities that have given the most place to the city concept have been Adana (3,58 word/page), İzmir (2,89 words/page) and Bursa (1,75 words/page); while cities that have included the concept of environment the most have been Konya (1,39 words/page), Adana (1,24 words/page) and Şanlıurfa (1,16 words/page).

This paper aims to report as a study that contributes to the understanding of the roles of strategic corporate social responsibility (CSR) in overall organisational performance. The approach to the paper was by the review of acclaimed researches with linkages between corporate social responsibility, more specifically strategic corporate social responsibility and organisational performance. Strategic CSR undertaken by various organisations were analysed to find how significant they affect to performance metrics. The researchers had difficulties unearthing previous tangential and empirical research as there had not been a wealth of research in the area of CSR relationships especially with regards to strategic CSR practices and performance and at the same time, previous research on CSR mostly focuses on its nature and impact on society and how customer loyalty can be gained with CSR. The study thus revealed that, although some organizations to some extent confuse CSR with philanthropic reasoning, they are aware of how rewarding it is for both societal stakeholders and the firm and intensively work towards integrating CSR with other business undertakings. This research contributes to one’s understanding of the impact that strategic CSR has on organisational performance when instituted in the business. Additionally, the study analyses how business performance may be affected either positively or negatively depending on the level of integration that strategic CSR has been implemented by organisations. The outcome of the study ultimately, will help top level management to amend shortcomings by implementing strategic CSR techniques as well as build formidable business performance.

Apparel industry in India is booming and there is fierce competition among various players in apparel segment in terms of lifestyle format. The present study is aimed at finding out the impact of various dimensions of visual merchandising vis-a-vis impulse buying behavior of the customers visiting “Shopping Malls”. Four dimensions of visual merchandising i.e. window display, in-store form/ mannequin display, floor merchandising and promotional signage are researched to find its impact on IBB. The results reveal that certain dimensions of visual merchandising do affect impulse purchase. Hence, visual merchandising is important for strategic marketing decisions to increase both the sales and the communication effect of the stores.

A firm is defined as a form of organisation which performs commercial activities in order to generate income to settle costs and generate profit and in  such manner  as to accomplish certain objectives. Every firm has different objectives which refer to operating business activites and strategic planning, depending on industry, firm size, environment and other conditions.

The subject-matter of this paper is cost behaviour depending on firm size and the way enterprises manage costs in order to optimise their performance. The example of the Unicredit Group will be used to display the analysis of firm growth and cost trend which follows this growth.

The objective of this paper is to display to which extend the Unicredit Group, as a firm, managed costs successfully and whether their growth followed their cost trend according to current economic rules. For this purpose, there will be used scientific methods.

The mobile phone has turned out to be a basic necessity in today world with multi-tasking ability based on user’s convenience and need. With staggering increase in mobile phone usage in India in recent years, people consider various factors before the purchase decision. This study is an effort to uncover the underlying factors that might affect customers in purchasing a mobile phone. Data were collected from those people those who live in Bijapur city maintaining equal ratios of various groups like male, female, businessmen, employees, students and others (housewives). To choose desired respondents, convenient sampling method was used. A structured questionnaire was designed based on the previous study with five points Likert scale was used to get responses. Factor analysis was used to elicit the underlying Factors that affect a mobile phone purchasing decision. The results show that the most important factor are physical attributes, pricing, battery life and service facilities, size and weight, friends and social group recommendations and advertising

This study aims at investigating the association between ownership structure (government ownership, family ownership and domestic corporate ownership) and the interaction of board of directors effectiveness and audit committee effectiveness by GCC listed companies. The study utilizes a cross-sectional analysis of 492 firm-year observations during the 2006- 2010 period. A pooled OLS regression analysis is used to estimate the associations proposed in the hypotheses. The study finds that government and domestic corporate ownerships are positively related to the effectiveness of board of directors and audit committee. However, such association could not be reported by the family ownership. The results of this study suggest that government-owned and domestic corporate-owned companies are characterized to have good corporate governance practices in terms of board of directors and audit committee as internal control and monitoring mechanisms. Further, the results of this study contribute to the existing theory and empirical evidence of how the effectiveness of board of directors and audit committee is related to monitoring and controlling ownership type. This study offers policy-makers additional evidence to be used for setting up and/or enacting regulations in GCC.

Public investment in APBN annually budgeted as capital expenditure. However, public investment not only in the form of physical capital but also in the non-physical forms of human resources that can be looked at education expenditure and health expenditure that called as human capital. The purpose of this study is to provide empirical evidence about causality that occurred between public expenditure and private sector investment in Indonesia with 33 provinces over the study period 2010-2013. The statistical tool used in this study is the Three-stage Least Squares from E- Views. Results of this study indicate that there are causal relationship between public investment in infrastructure and private investment and between public investment in infrastructure and public investment in human resources. However, no causal relationship occurs between the public investment in human resources and private investment. As a control variable, GDP has positive and significance effect on private investment.

Based both on scientific knowledge and the public opinion to end fossil fuels, political regimes seek more actively to substitute carbon-intense energy sources with greener and cleaner alternatives. However, each attempt to transition or transform energy production and consumption patterns towards more sustainable ends is bound to be affected by deep historical roots. As a result, both explaining and predicting energy development trajectories have proven to be a difficult task since they are deeply political, covering different social forces involved in the use, production and distribution of natural resources. The authors of “Energy and Transport in Green Transition—Perspectives on Eco- modernity” face this challenge when attempting to address the societally and scientifically crucial topic of energy and climate change mitigation.

This book begins with grand ambitions as the authors attempt “to go beyond both the extremism of the anti-capitalist critique and the radical enthusiasm of techno-economic positivism” in their investigation to find ways “to boost a greener economy and culture” by resolving political, economic and technological entanglements (p.2). Their method of investi-gation comprises of a regional comparative study of mature Western economies, the rapidly developing China, anddeveloping economies in sub-Saharan Africa. Importantly, editors Atle Midttun and Nina Witoszek frame their work onthe“ongoing transformation” necessary to mitigate detrimental impacts on the climate as a “battle ofmodernities” (Ch. 1) In this battle, each of the modernities come with their own myth, which all serve to mobilize the social world towards specific (technological) development trajectories. The authors construct a vision of the mitigation champion in the modernity brawl, namely their particular brand of “ecomodernity”, which they argue is emerging and able to integrate the commercial, technological and, in particular, cultural visions within the ideas of green growth.

As this is it important for potential readers, let us first give room to how the authors construct their argument. The authors set off by decoding complex socio-economic green transitions occurring across the world. More specifically, the book covers two major themes: the history of energy sectors across four geographical regions, and more con- temporary developments in the automotive industry. In this endeavour, the authors draw on neoclassical economic concepts and innovation studies as they target: the ca- pability to drive innovation, the ability to mobilize public interest, and the challenges of staging complex pathways in a heterogeneous world with countries at different stages of development. The theoretical lineage that can be seen here makes reference to Schumpeter, and the book builds on “a multitude of international studies, reports, conferences and civil society initiatives” (p. 14), making reference to Daly, Max-Neef, Beck, Hajer, Dryzek, Jackson, and others.

Given the greater subject of sustainability and the grandness of the book’s aspirations, it serves to articulate the authors’ underpinning view on social change. Here, technological innovation and its diffusion play a central role—while also disregarding the actual possibility to drive green innovation at the level of Schumpeter’s gale of creative destruction necessary to mitigate climate change (i.e. via industrial mutation destroy and replace an economic structure from within). Against this backdrop,the role of people and policy is posited as relational to three cycles: a product cycle, a visionary cycle, and an institutional cycle. Or in acharac-terization: as new green products and new societal visions develop, they may be successful enough to mobilize public intervention for more formalized and supporting institutions. It is in the interface between these three cycles that the authors place the dynamics of social change in “the battle of modernities”. In particular, the interplay between the product- and the visionary cycle is given priority by the authors throughout the book. Subsequently, it is through this lens each chapter is to interpret empirical observations from across the world in order to theorize “in more detail the emergent vision of ‘ecomodernity’, which combines both technological, political, and cultural transformation” (p.14).

However, the challenge of drawing on so many, and vastly different, cases – historically, politically, institution- ally, geographically, biophysically, sociologically etc.—while moving across such a long time span becomes apparent. Going back to the book’s purpose, the analysis of empirical findings from each case is not sufficiently anchored in their theory. For example, the notion of mobilizing myths is only on rare occasions empirically rooted, and overall becomes reduced to ad-hoc arguments to fill gaps in the narrative. Thus, the authors do not provide the necessary depth to ex- plain the dynamics of change involved in a truly convincing manner, even within their own paradigm. In defence of the authors, it is indicated in the Foreword that this is done to assure maximum accessibility, indicating that it is intended for a broader audience. The authors do present a very interesting descriptive expose´ of various energy technologies and innovations of main concern for carbon emissions across time and space. However, the book’s analytical forte becomes questionable as troublesome arguments emerge as, for example, institutions and organizations from conflicting social forces are viewed as part of the same cultural framing, working towards the same “ecomodernity”.

Ultimately, the study object of the book becomes yet another story of energy technologies, and together with a hazy understanding, and analysis, of change, the au- thors reproduce the very technoeconomic positivism they wanted to avoid. Despite this critique, the book presents worth-while descriptive historical reviews for those inter- ested in the broader picture of energy production and the automobile sector in the regions addressed (i.e., the European Union, the United States of America, China, and sub-Saharan Africa). The overarching point of how the “ecomodernity” presented by the authors would consist of an interplay between the three cycles is made in a compelling manner, especially given rich level of detail presented in each chapter. Furthermore, the authors do not abstain from acknowledging the role the global economy may have played in technological development, especially in the case of photo-voltaics. Finally, I would recommend this book to readers interested in the data and the details, but not to those interested in deep academic discussions about economy and sustainability, and if/how a new champion may emerge from the battle of modernities.

Boards’ affects performance through their monitoring and advising functions. The ability to perform these functions depends on among other things, the experience of the board. This paper examines the effects of corporate board experience on firms’ financial performance of listed companies in the Nairobi Securities Exchange for the period 2001-2010 using System GMM. Performance variables are ROA, Tobin’s Q ratio, share price and price to book value. Experience is measured as stock of initial experience and tenure in a particular board. Tenure is found to be positively and significantly associated with the performance variables. Tenure ^2 captures the entrenchment behavior of the board. This entrenchment effect has a significantly negative effect on performance. This negative effect eventually outweighs the positive tenure effect and gives rise to the downward effect of tenure on performance hence the inverted U-relationship between tenure and performance. The study reports an optimal tenure of between 7 and 8 years depending on the  performance variable being considered. At shorter tenure; there is a positive effect on performance, but at a longer tenure, entrenchment behavior of the veteran board members outweighs the monitoring effect. In fact these long tenured boards become ‘zombie boards’, thus negatively affecting performance. Stock of initial experience consists of education, and past managerial experience. It has a significant positiverelationship with performance.

This research aimed to analyze the relationship model of environmental factors, motivational factors, individual personality factors, and individual innovation capability in the term of knowledge sharing behavior. Environmental factors consist of organizational climate and Organizational Citizenship Behavior (OCB), while motivational factor consist of trust, social capital, and job satisfaction. This research was implemented in two phases. First, we analyzed the relationship of motivational factors and environmental factors on knowledge sharing behavior. Second, we analyzed influence of environmental factors on individual innovation capabilities moderated by individual personality. Data was analyzed using hierarchical regression, multiple regression, and simple linear regression analysis. Sample was employees of Islamic banks in DIY. Results showed that the organizational climate, organizational citizenship behaviour, social capital, trust and job satisfaction affected knowledge sharing behavior positively. Results also showed that individual personality didn’t moderate the relationship between environmental factors and knowledge sharing behavior, and that knowledge sharing behavior impacted individual innovation capability positively.

The Czochralski crystal growth manufacturing process results in small periodic and undesirable fluctuations in the crystal diameter under certain conditions. These fluctuations have strong, non-linear characteristics and are likely to appear at combinations of critical values of certain parameters, such as the rotational velocity, the ratio of crystal radius to crucible radius, and the temperature gradient.

This paper uses perturbation theory to try to identify the critical combinations of parameters that lead to these fluctuations. Firstly, the zero and first-order equations are obtained. Secondly, numer-ically-based steady-state solutions of these equations are calculated, and finally, the stability of the steady-state solutions is examined. It is observed that the steady-state solutions do not exhibit any unusual patterns for any values of the configuration parameters. Furthermore, all the steady-state solutions are found to be stable for all initial conditions; therefore, the steady-state solutions and the analysis of their stability did not indicate the source of the observed fluctuations. This analysis suggests that a better approximation of the equations such as second order perturbation analysis may be needed to identify the conditions that lead to the observed fluctuations.

The process of cooling caused by a water droplet contacting a surface has been extensively reported in the literature; however, the effect of surface wettability on the outcome of the cooling rate has yet to be analyzed. Due to optical limitations inside a liquid droplet, a three-dimensional (3D) computational fluid dynamics (CFD) model, including coupling between multiphase flow and the conjugated heat transfer module was developed to simulate the impact, spreading and transient heat transfer between a cold-water droplet and a heated surface. The total heat transfer results were calculated for both superhydrophobic and hydrophilic surfaces. The Navier-Stokes equation expressing the flow distribution of the liquid and the gas, coupled with the volume of fluid (VOF) method for tracking the liquid interface, was solved numerically using the finite volume methodology. The grid dependency test was examined for the 3D model, even though the convergence of the results was not exact. The 2 mm diameter water droplet with the Weber numbers 7, 25 and 62, which correspond to non-splashing regimes, were impinged onto two different surfaces. We showed that spray cooling on a superhydrophobic substrate was capable of improving the efficiency of the cooling process up to 40% compared to that of a hydrophilic surface. Additionally, the critical Weber regime was obtained for the optimal heat transfer between the droplet and the two substrates.

The characteristics of the measurement capacity of air-coupled ultrasonic sensor influenced by the incident angle were investigated analytically and experimentally. The optimized incident angle between ultrasound and test pipe was determined. The air-coupled ultrasonic sensor with this determined incident angle was applied to the flowrate measurement in the aluminium pipe. The measurement results were compared to those obtained by using the electromagnetic flowmeter. Since the measurement results show good linearity, the capacity of the air-coupled ultrasonic flowmeter is revealed.

Particle interactions in highly-viscous nonlinear and linear shear flows play an important role in a variety of applications including composite materials processing, microfluidics, chromatography, and particle resuspension, to name a few. Binary interactions among particles can provide information used in rheological models for suspension flows such as migration rates and self-diffusivity. In past numeri- cal studies, particle roughness has been treated, for the most part, as a constant, static quantity. In the current study, roughness is treated as a stochastic parameter. Hence, quantities such as dispersion, net particle migration, and self-diffusivity also become stochastic parameters. Numerical simulations are performed using a semi-analytic solution for the motion of two particles in an arbitrary unbounded flow field to determine the effects of random particle roughness.

Surface cleaning prior to coating and fabrication processes is an important process to ensure the quality and proper functioning of the products. The current work involves the modeling of a cleaning process where viscous media is removed from surfaces using mechanical force from impinging water jets. The jets are mounted on a rotating nozzle carrier, which combine the normal force with increased tangential force resulting in the removal of oil present in the grooves of metal surfaces.

The modeling of such a process is performed with the volume of fluid (VOF) method with an open source Computational Fluid Dynamics (CFD) code Open-FOAM®. Rectangular grooves, which represent an idealized form of roughness are considered for numerical analysis. The oil present in the roughness grooves is resolved by the computational mesh.

The inlet is modified to model the phenomenon of rotating jets. In order to model the effect of rotating jets, a reference vector is transformed by a time-dependent rotational tensor. All the faces which make a certain angle (opening angle) with the reference vector are activated. This results in the formation of jets with a thickness which can be controlled by the opening angle. The numerical model is used to study the influence of the frequency of rotation, nozzle exit velocity, viscosity of oil and the aspect ratio of the grooves on surface cleaning. An impinging turbulent jet is modeled using the k-epsilon turbulence model.

Finally, the CFD simulations are qualitatively compared with a previously developed semi-empirical model and experiments conducted in an industrial setup. The tendencies of oil removal due to the effect of the process parameters observed in the simulation are in close agreement with the semi-empirical model and experimental results. Thus, the cleaning model can be used to conduct sensitivity analysis to achieve an optimal performance of the cleaning process.

Nowadays open-source CFD codes provide suitable environments for implementation and testing low-dissipative algorithms typically used for turbulence simulation. Moreover these codes produce a reliable tool to test high-fidelity numerics on unstructured grids, which are particularly appealing for industrial applications. Therefore in this work we have developed several solvers for incompressible Navier-Stokes equations (NSE) based on high-order explicit and implicit Runge-Kutta (RK) schemes for time-integration. Note that for NSE space discretization the numerical technology available within OpenFOAM (Open-source Field Operation And Manipulation) library was used.

Specifically in this work we have considered explicit RK projected type schemes for index 2 DAE system and L-stable Singly Diagonally Implicit Runge-Kutta (SDIRK) techniques. In the latter case an iterated PISO-like procedure based on Rhie-Chow correction was used for handling pressure-velocity coupling within each RK stage. The accuracy of the considered algorithms was evaluated studying the Taylor-Green vortex. Moreover several benchmark solutions have been computed in order to assess the reliability, the accuracy and the robustness of the presented solvers.

We studied the performance of 60 firms, 30 each from two types of firms namely, focused and diversified. Further, of the 30 firms in each group, 10 each were selected on the basis of three different sizes; small (with assets<INR10 billion), medium (with assets ranging between INR10 and <INR50 billion) and large (with assets >INR50 billion). Our intent was to determine which of these displayed superior economic performance. We analysed data for two points of time 2006-07 and 2013-14 using three measures of economic performance. These include profit after tax (PAT), return on capital employed (ROCE) and asset turnover ratio (ATR). We employed parametric (MANOVA, ANOVA) as well as nonparametric (Mann- Whitney, Kruskal-Wallis and Chi square) tests. Our analysis started with MANOVA to compare the overall performance of the selected firms for all the three measures. Later, ANOVA was used to further understand specifically, which performance measure was influenced by type and size of the firm. Since, there was a possibility for outliers to influence the findings, nonparametric tests were employed with the assumption that both the finding would give similar results. Our study concluded that there is no significant difference in the performance between focused and diversified firms. However, we found significant difference in the performance of firms based on size, though there were no interaction effects between size and type. Particularly, when diversified and focused firms were separately studied, it was found that for focused firms alone there were significant differences in performance between firms of different sizes.

Despite numerous government interventions, machine- building industry in Ukraine slowly declines since 2008. Many researchers claim it to be a result of high cost of capital within Ukraine. This article purposes to answer the question, how cost of capital influences development of Ukrainian machine-building enterprises. Twenty Ukrainian enterprises were selected and their data analyzed for the period from 2008 to 2014, using the value-oriented approach, namely, the method of Economic Margin (EM), adjusted to peculiarities of Ukrainian reporting practices. The research shows, that the cost of capital (CC) is not a determining factor for the stalled development of the machine-building enterprises in Ukraine.

There has been ongoing regulatory debates in the United States and European Union countries on whether audit partner rotation really improve the audit quality, showed that there has been continuing doubts on how mandatory rotation implemented. This situation point out that rotation policy choice of countries should be supported by empirical research. The aim of this study is to make a literature review on what extent of empirical evidence support the mandatory rotation decisions of countries. For this purpose, development of the mandatory rotation regulation in the United States, European Union countries and Turkey and the findings and limitations of empirical research has revealed. The presence of important limitations of the studies in the literature, indicate that there have been no enough empirical evidence that support the mandatory audit firm rotation or mandatory audit partner rotation decisions of countries.

Sustainable development is an issue that attracts worldwide attention since 1970s. Banking industry takes the question of sustainable development and sustainability into serious consideration as well. Many a global organization including most particularly IFC, GRI, UNEP FI, BEI, European Commission, and UN Global Compact Network have conducted various studies relating to the consideration of environmental and social effects and reporting thereof within banking sector. There is a correspondingly rising emphasis placed on sustainability in Turkish banking sector. Sustainability reports are voluntarily published by banks operating in Turkish banking sector. In addition, there are three commercial banks listed in the ISE Corporate Sustainability Index. In this study, the contribution of the banking sector to sustainable development and sustainability did analyzed with a view to the sustainability practices in Turkish banking sector, and the sustainability reports of a specified group of commercial banks and a private equity development bank operating in Turkish banking sector did analyzed.

Kazanç üzerinden (ilgili standart gereği sadece kurumların kazançları) tahsil edilen verginin hesaplanmasından muhasebeleştirilmesine kadar geçen süre içerisinde karşımıza çeşitli zorluklar çıkmaktadır. Bu zorlukların temel sebebi; Türkiye Muhasebe Standartları ve Vergi Usul Kanunu arasındaki uyumsuzluklardan dolayı, üzerinden verginin hesaplanacağı iki farklı kar kavramının ortaya çıkmasıdır. Bunlardan ilki ilgili standart/standartların belirlediği esaslara göre hesaplanan ticari kar; diğeri ise, vergi kanunlarındaki ilke ve esaslara göre hesaplanan mali kardır. Ticari kar ve mali kar arasında oluşan farklar geçici bir özelliğe sahip ise, ilgili dönem bilançosunda ertelenmiş vergi olarak raporlanır. TMS-UMS 12 Gelir Vergileri Standardı söz konusu bu farkları açıklamaktadır. Söz konusu farklar; ertelenmiş vergi varlıkları ya da ertelenmiş vergi yükümlülükleri olarak karşımıza çıkmaktadır. Bu makalenin amacı TMS-UMS 12 Gelir Vergileri Standardının incelenmesi ve söz konusu standardın uygulamasının ne şekilde yapılacağının açıklanması şeklinde olacaktır. Bununla birlikte bir uygulama örneği yardımıyla, TMS-UMS 12 Gelir Vergileri Standardı ile Türkiye’deki mevcut uygulama karşılaştırılmaktadır.

21st century education standards focus on 21st century skills, content knowledge and expertise. Technology advances such as eXtensible Business Reporting Language (XBRL) have revolutionized the way information is exchanged and the way business is conducted. These days, speed is of the essence and loss of accuracy, lack of transparency, and difficulty in analysis are increasingly becoming apparent risks. This research exposes XBRL as a phenomenon that represents the future of global accounting education. It discusses the concept and need for XBRL as well as its potential uses and challenges. The research found that there is an ongoing transformation in the way business is conducted and regulated world-wide. The onslaught of the information revolution has profound ramifications for corporate reporting information preparers and users. It therefore recommends that the greater the degree of collaboration between all participants in the financial information supply chain, including government regulators and public sector accountants, the greater the benefits that this information format enables for all participants, educationists, academics, companies, regulators, investors, and government agencies alike.

According to today's business notion, companies ought to decide on how to assess their investment properties because of an increasing competition. On this basis, there are options available for companies such as own usage of investment property or leasing it for gaining earnings on value augmentation. If second option of these alternatives is chosen, investment properties standard is taken as constitution. With this different evaluation, the risk of wrong information transmission is dealt over. The aim of this study is to intoduce investment properties, and putting forward accounting criteria with application examples. In this context, firstly classification of investment properties is performed then examples regarding explanations and accounting procedures are delivered abiding by Accounting Standard numbered 40. With this standard, the necessity for separate categorization of investment properties apart from other assets of an entity is arisen that is previously made according to Turkish Accounting and Financial Reporting Standards. Thus, fair presentation of information available in financial statements could be enabled through accurate categorization.

The data users need reliable financial statements when they make any decision. In this study we aim to identify the factors that determine fraud risk in financial statements by examining the listed firms in Istanbul Stock Exchange (ISE) over the period 2009 and 2013. Using quarterly data, we included 408 periods belonging 32 firms that have fraud risk and the control group consists of 20 firms with 400 periods in this analysis. By employing logistics regression analysis, we found that receivables turnover, financial leverage, gross profit margin, BV (Book Value) / MV (Market Value), natural logarithm of total assets, the total duration of the firms in the stock exchange, the big four auditing firm and z score are important factors to detect the fraud risk in financial statements. The correct classification rate of the logistic regression analysis is found 75.1%.