STATISTICAL SYSTEM in TURKEY AND

İMPLEMENTATİON OF GFSM

Bahtiyar YÜKSELFinance ExpertNovember 2013

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İnternational Account SystemsOrganization StructureCoverage of the General Government Sector

in TurkeyCriteria for the Determination of General

Government Sector in TurkeyData Sources, Compilation and ReportingAccounting System in Turkey

Content of Presentation

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İNTERNATİONALACCOUNT SYSTEMS

SNA 2008(UNITED

NATIONS)

ESA 2010 (EUROSTAT)

GFSM 2001

(IMF)

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Ministry of Finance

Generel Directorate of Public Accounts

General Governme

nt and Financial Statistics Departme

nt

Financial Statistics Reporting

and Analyzing Division ( 6 Stuff)

Organization Structure

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Central GovernmentGeneral Budget

Institutions Special Budget

InstitutionsRegulatory and

Supervisory Institutions

Revolving FundsExtra Budgetary

FundsSocial FacilitiesOther Institutions

of Central Government

Coverage of the General Government Sector

Local GovernmentProvincial Special

AdministrationsMunicipalities Development

AgenciesProvincial

directorates of youth and sports

Local Government Unions

Social Security Institutions Social Security

Institutions Unemployment

Insurance Fund Turkish Employment

Agency

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In 2003 Public financial management and control law was enacted. Thanks to this Law For public financial statistics, general government sector

was determined mostly according to the international criteria (ESA 95-GFSM 2001) by a working group (Ministry of Finance, Undersecretary of Treasury, Turkish Republic of Central Bank, Ministry of Development, Turkish Statistical Institute)

Common rules were introduced for the general government institutions, thus, uniformity of financial management for all the institutions was ensured.

Accrual-based accounting system was established by the Ministry of Finance for all general government sector.

In order to ensure compliance with international standarts, analitical budget classification was developed

Determination of General Government

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Data Sources, Compilation and Reporting

Say 2000i System, at which is used developed computer and communication system, is the one of the top five largest projects between the web based e-goverment applications in the world. In the terms of magnitude and scope, this system is the largest public project in our country.

Public Expense and Accounting Information System is an otomation system developed by Ministry of Finance Generel Directorate of Public Accounts. This system has been set up for integrating financial transaction between expence units and accounting units in one otomation system. With this system, data relating to the financial transactions is entered and sent by expense units to the accounting units. This data is recorded as a accounting information

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As a Ministry of Finance, we compile data;

Central government budgetary data is compiled in

real time from Say 2000i System

Central government Extra budgetary institutions

data is compiled quarterly from KBS System

Local governments data is compiled monthly from

KBS System

Social security institutions data is compiled

quarterly from KBS System

Data Sources, Compilation and Reporting

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As a Ministry of Finance, we report and disseminate data;

Monthly = Central government budgetary data is reported

and disseminated t+15

Quarterly = General government sector data is reported

and disseminated t+90

Yearly = General government sector data is reported and

disseminated t+150

And, also according to the GFSM 2001 budgetary central

government GFS tables monthly and general government

GFS tables annually are sent to IMF

Data Sources, Compilation and Reporting

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Bases of Recording Data for all subsectors are reported on a noncash basis. Through privazitation process all of the assets sold are

showed into table 3 as transaction not revenue. And difference between face value and market value at which is sold is showed as holding gains in table 4.

In table 7, for budgetary, social security and local government subsectors total amount of expense plus net acquisition of nonfinancial assets are distributed to cofog codes according to the ratios produced from cash data.

Liquidation or complementary period Not reported Valuation of assets and liabilities Domestic and external government securities other than

shares are recorded at market value. The others are recorded as face value

Accounting Practices According to GFSM

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1 CURRENT ASSETS2 FIXED ASSETS3 SHORT TERM LIABILITIES4 LONG TERM LIABILITIES5 EQUITY / NET WORTH6 OPERATİNG ACCOUNTS (İNCOME AND EXPENCE ACCOUNTS)

7 COST ACCOUNTS 8 BUDGET ACCOUNTS (BUDGET EXPENDITURES AND BUDGET REVENUES)

9 MEMORANDUM ACCOUNTS

The framework of Turkey's accounting system

BALANCE SHEET ACCOUNTS

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Budget Execution Results Table Balance Sheet Operating Results Table Cash Flows Statement Domestic and Foreign Debt Table Economic Classification of İncome Table Economic Classification of Expense Table Financial Assets And Liabilities Table

Financial Reporting

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Ex 1: 1000 tl income tax is accrued. 120 Receıvables From Operatıng Actıvıtıes 1000 tl (+) 600 İncome Account 1000 tl (+)

According to GFSM 2001: Table 3 (Transaction) Financial Assets 1000 tl (+) Table 1 (Revenue) 1000 tl (+)

Accounting Examples

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Ex 2: 1000 tl accrued income tax has been collected.

100 Cash Account 1000 tl (+) 120 Receıvables From Operatıng Actıvıtıes 1000 tl (-) According to GFSM 2001: Table 3 (Transaction) Financial Assets 1000 tl (+) Table 3 (Transaction) Financial Assets 1000 tl (-)

Accounting Examples

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Ex 3: Currency account has been valued 2000 tl 105 Currency account 2000 tl (+) 600.11 Value and the amount of revenue changes 2000 tl (+) According to GFSM 2001: Table 4 (Holding gain and losses) Financial assets 2000 tl (+)Ex 4: 5000 tl vehicle has been taken inventory. 254 Vehicle account 5000 (+) 500 Net worth account (+) According to GFSM 2001: Table 5 (other changes) Nonfinancial assets 5000 tl (+)

Accounting Examples

THANK YOU FOR YOUR ATTENTION