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STATISTICAL SYSTEM in TURKEY AND İMPLEMENTATİON OF GFSM

STATISTICAL SYSTEM in TURKEY AND İMPLEMENTATİON OF GFSM. Bahtiyar YÜKSEL Finance Expert November 2013. Content of Presentation. İnternational Account Systems Organization Structure Coverage of the General Government Sector in Turkey

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STATISTICAL SYSTEM in TURKEY AND İMPLEMENTATİON OF GFSM

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  1. STATISTICAL SYSTEM in TURKEY AND İMPLEMENTATİON OF GFSM Bahtiyar YÜKSEL Finance Expert November 2013

  2. Content of Presentation • İnternationalAccountSystems • OrganizationStructure • Coverage of the General GovernmentSector in Turkey • Criteriafor the Determination ofGeneral GovernmentSector in Turkey • Data Sources,CompilationandReporting • Accounting System in Turkey

  3. OrganizationStructure

  4. Coverage of the General GovernmentSector • Social Security Institutions • Social Security Institutions • UnemploymentInsuranceFund • TurkishEmploymentAgency • LocalGovernment • Provincial Special Administrations • Municipalities • Development Agencies • Provincial directorates of youth and sports • LocalGovernmentUnions Central Government • General Budget Institutions • Special Budget Institutions • RegulatoryandSupervisoryInstitutions • RevolvingFunds • ExtraBudgetaryFunds • SocialFacilities • OtherInstitutions of Central Government

  5. Determination of General Government • In2003 Publicfinancialmanagementandcontrollawwasenacted. ThankstothisLaw • Forpublicfinancialstatistics, general governmentsectorwasdeterminedmostlyaccordingtotheinternationalcriteria (ESA 95-GFSM 2001) by a workinggroup (Ministryof Finance, Undersecretaryof Treasury, TurkishRepublic of Central Bank, Ministryof Development, TurkishStatistical Institute) • Commonruleswereintroducedforthe general governmentinstitutions, thus, uniformity of financialmanagementforalltheinstitutionswasensured. • Accrual-based accounting system was established by the Ministry of Finance for all general government sector. • Inordertoensurecompliancewithinternationalstandarts, analiticalbudgetclassificationwasdeveloped

  6. Data Sources, CompilationandReporting Say 2000i System, at which is useddevelopedcomputerandcommunicationsystem, is the one of the top five largest projects betweenthe web based e-govermentapplications in theworld. Intheterms of magnitudeandscope, thissystem is thelargestpublicproject in ourcountry. PublicExpenseand Accounting Information System is an otomationsystemdevelopedbyMinistry of Finance Generel Directorate of Public Accounts. Thissystem has been set upforintegratingfinancialtransactionbetweenexpenceunitsandaccountingunits in oneotomationsystem. Withthissystem, data relatingtothefinancialtransactions is enteredand sent byexpenseunitstotheaccountingunits. This data is recorded as a accountinginformation

  7. Data Sources, CompilationandReporting • As a Ministry of Finance, wecompile data; • Central governmentbudgetary data is compiledin realtime from Say 2000i System • Central governmentExtrabudgetaryinstitutions data is compiledquarterlyfrom KBS System • Localgovernments data is compiledmonthlyfrom KBS System • Socialsecurityinstitutions data is compiledquarterlyfrom KBS System

  8. Data Sources, CompilationandReporting • As a Ministry of Finance, wereportanddisseminatedata; • Monthly = Central governmentbudgetary data is reportedanddisseminatedt+15 • Quarterly = General governmentsector data is reportedanddisseminated t+90 • Yearly = General governmentsector data is reportedanddisseminated t+150 • And, alsoaccordingtothe GFSM 2001 budgetarycentralgovernment GFS tablesmonthlyand general government GFS tablesannuallyare sent to IMF

  9. Accounting PracticesAccordingto GFSM • Bases of Recording • Data forallsubsectorsarereported on a noncashbasis. • Through privazitationprocessall of theassetssoldareshowedintotable 3 as transaction not revenue. Anddifferencebetweenfacevalueand market value at which is sold is showed as holding gains in table 4. • Intable 7, forbudgetary, socialsecurityandlocalgovernmentsubsectors total amount of expenseplus net acquisition of nonfinancialassetsaredistributedtocofogcodesaccordingtotheratiosproducedfromcash data. • Liquidationorcomplementaryperiod • Not reported • Valuation of assetsandliabilities • Domesticandexternalgovernmentsecuritiesotherthansharesarerecorded at market value. Theothersarerecorded as facevalue

  10. The framework of Turkey's accounting system BALANCE SHEET ACCOUNTS 1 CURRENT ASSETS 2 FIXED ASSETS 3 SHORT TERM LIABILITIES 4 LONG TERM LIABILITIES 5 EQUITY / NET WORTH 6 OPERATİNG ACCOUNTS (İNCOME AND EXPENCE ACCOUNTS) 7 COST ACCOUNTS 8 BUDGET ACCOUNTS (BUDGET EXPENDITURES AND BUDGET REVENUES) 9 MEMORANDUM ACCOUNTS

  11. FinancialReporting Budget ExecutionResultsTable Balance Sheet OperatingResults Table Cash FlowsStatement Domestic and Foreign Debt Table Economic Classificationof İncomeTable Economic Classification of ExpenseTable Financial Assets And Liabilities Table

  12. Accounting Examples • Ex 1: 1000 tlincometax is accrued. 120 ReceıvablesFromOperatıngActıvıtıes 1000 tl (+) 600 İncomeAccount 1000 tl (+) • Accordingto GFSM 2001: Table 3 (Transaction) Financial Assets 1000 tl (+) Table 1 (Revenue) 1000 tl (+)

  13. Accounting Examples • Ex2: 1000 tlaccruedincometax has been collected. 100 Cash Account 1000 tl (+) 120 ReceıvablesFromOperatıngActıvıtıes 1000 tl (-) • Accordingto GFSM 2001: Table 3 (Transaction) Financial Assets 1000 tl (+) Table3 (Transaction) Financial Assets 1000 tl (-)

  14. Accounting Examples • Ex3: Currencyaccounthas beenvalued2000 tl 105 Currencyaccount 2000 tl (+) 600.11 Valueand the amount of revenue changes2000 tl (+) • Accordingto GFSM 2001: Table 4 (Holding gainandlosses) Financial assets 2000 tl (+) • Ex4: 5000 tlvehicle has beentakeninventory. 254 Vehicleaccount 5000 (+) 500 Net worthaccount (+) • Accordingto GFSM 2001: Table 5 (otherchanges) Nonfinancialassets 5000 tl (+)

  15. THANK YOU FOR YOUR ATTENTION

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