TFRS definition

TFRS means Turkish Accounting Standards and Turkish Financial Reporting Standards (and annexes and interpretations of each of them), as published by the Public Oversight Accounting and Auditing Standards Authority of the Republic of Turkey and in force for the accounting period ended on the relevant accounts date;
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TFRS has the meaning specified in Section 4.9 hereof.
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TFRS shall have the meaning set forth in Section 3.3(b).
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Examples of TFRS in a sentence

  • Failure to do so may result in us being unable to contact you regarding your Account or to let you know about changes to these Terms and Conditions.

  • The Company uses the market approach to measure its assets and liabilities that are required to be measured at fair value by relevant TFRS, except that the cost approach or income approach is used when there is no active market or when a quoted market price is not available.

  • The Company and its subsidiaries use the market approach to measure its assets and liabilities that are required to be measured at fair value by relevant TFRS, except that the cost approach or income approach is used when there is no active market or when a quoted market price is not available.

  • Trade receivables are stated at the amount expected to be collectible, the Company and its subsidiaries apply the TFRS 9 simplified approach to measuring expected credit losses which uses a simplified approach, which requires expected lifetime losses to be recognized from initial recognition of the receivables.

  • The Company and its subsidiary uses the market approach to measure its assets and liabilities that are required to be measured at fair value by relevant TFRS, except that the cost approach or income approach is used when there is no active market or when a quoted market price is not available.

  • TFRS 15 supersedes TAS 11 Construction Contracts and TAS 18 Revenue, together with related Interpretations.

  • Under TFRS 15, it is required for the Group to consider whether the Group receive distinct goods or services from the customer.

  • Trade receivables are stated at the amount expected to be collectible, The Company applies the TFRS 9 simplified approach to measuring expected credit losses which uses a simplified approach, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

  • For leases previously classified as finance leases, the Company recognized the carrying amount of the right-of-use assets and lease liabilities based on the carrying amounts of the lease assets and lease liabilities immediately before the date of initial application of TFRS 16.

  • The term of the agreement is generally 1-3 years, future minimum rental payable was as follows:- Payable within 1 year - 4,147 Payable within 2 to 3 years - 4,172 “UNAUDITED” “REVIEWED” As at September 30, 2020, the Company had no obligations under lease agreements and related service agreements as a result of the adoption of the TFRS 16 as at January 1, 2020.


More Definitions of TFRS

TFRS means Turkish Financial Reporting Standards issued by the Public Oversight Accounting and Auditing Standards Authority of Turkiye.
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Related to TFRS

  • HKFRS Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants

  • Historical Financial Statements means the audited consolidated balance sheets of the Borrower as of December 31, 2006 and December 31, 2005 and the audited consolidated statements of income, stockholders’ equity and cash flows of the Borrower for each of the fiscal years in the three year period ending on December 31, 2006.

  • Financials means the annual or quarterly financial statements, and accompanying certificates and other documents, of the Borrower and its Subsidiaries required to be delivered pursuant to Section 5.01(a) or 5.01(b).

  • Year-End Financial Statements has the meaning set forth in Section 4.06(a).

  • Company Interim Financial Statements has the meaning specified in Section 4.08(a).