Which legislation is the Uniform Chart of Accounts based on?

It is based on the uniform framework and chart annexed to Communiqué No. 1 on the Application of the Accounting System (MSUGT), published in Official Gazette No. 21447 (repeated) on 26.12.1992, under VUK Arts. 175 and repeated 257.

When did mandatory application start?

From 1.1.1994 for calendar-year periods; for special periods, from the period opening in calendar year 1994. Application for 1993 was optional (MSUGT VII–VIII).

Why is a uniform chart of accounts needed?

In an integrated economy, financial information must be comparable, auditable and teachable. A common framework aligns definitions, gathers similar events in the same accounts and eases sector/entity comparison. In Turkey this framework is mandated by MSUGT.

How are account classes organised?

Classes 1–7 cover balance sheet and income statement accounts. Class 8 is left free (entity-specific cost, management, IFRS/TFRS differences, etc.). Class 9 is memorandum accounts. There is no mandatory standard list for classes 8 and 9.

Why are IFRS/TFRS amounts often kept in class 8?

To keep tax-basis books in classes 1–7 intact, IFRS/TFRS differences and management amounts are frequently tracked in class 8 so they do not mix into tax-base accounts. This is common practice; MSUGT does not require “IFRS = class 8”.

Do memorandum accounts affect the balance sheet?

No. They do not change assets and liabilities; they track guarantees, sureties, custody and similar items for information. Codes and names are set by the entity.

Do other countries use a uniform chart of accounts?

Yes — especially in Continental Europe (e.g. France’s general chart tradition; industry/template charts in Germany). The US has little mandatory nationwide general chart; consistency relies more on standards and audit. In many countries application was optional or partial. Turkey’s binding framework is MSUGT; foreign practice can change over time.

Are the explanations on this page binding?

No. Content is MSUGT-based information. Filings, audits and special transactions require the current communiqué text and professional assessment.

Last updated: August 10, 2026

Uniform Chart of Accounts 2026

MSUGT-based account classes, groups and accounts for Turkey; with optional KGK FRSHP OCI examples in class 8.

This content is based on Turkey’s MSUGT Uniform Chart of Accounts and applies only under Turkish legislation and practice. Class 8 is left free under MSUGT; 800-series items shown are optional KGK FRSHP teaching examples for OCI, not a mandatory MSUGT account list. (MSUGT = Communiqué on the Application of the Accounting System)

This main account group covers assets held in cash on hand and at banks, as well as asset items that under normal conditions are expected to be converted into cash or consumed within at most one year or within the entity’s normal operating cycle.

Current Assets are classified as cash and cash equivalents, marketable securities, trade receivables, other short-term receivables, inventories, prepaid expenses and accrued income for future periods, and other current assets.

This main account group covers assets acquired to be used in carrying out the entity’s activities for periods longer than one year or one normal operating cycle, and which in principle are not expected to be converted into cash or consumed within one year or within the normal operating cycle. Non-Current Assets are classified as Trade Receivables, Other Receivables, Financial Non-Current Assets, Tangible Non-Current Assets, Intangible Non-Current Assets, Assets Subject to Special Depletion, Prepaid Expenses and Accrued Income for Future Years, and Other Non-Current Assets.

Short-term liabilities cover liabilities payable within at most one year or at the end of the entity’s normal operating cycle, consistent with the criterion used in classifying current assets.

Short-Term Liabilities are classified as Financial Liabilities, Trade Payables, Other Payables, Advances Received, Taxes and Other Liabilities Payable, Provisions for Liabilities and Expenses, Deferred Income and Accrued Expenses for Future Months, and Other Short-Term Liabilities.

This class covers the entity’s borrowings obtained from credit institutions, the capital market and third parties with which the entity has dealings, and that have a maturity of more than one year.

Long-Term Liabilities are classified as Financial Liabilities, Trade Payables, Other Payables, Advances Received, Taxes and Other Liabilities Payable, Provisions for Liabilities and Expenses, Deferred Income and Accrued Expenses for Future Years, and Other Long-Term Liabilities.

This class covers paid-in capital representing the amount of capital investments made in the entity by its owners or partners as of the balance sheet date, together with Capital Reserves, Profit Reserves, Retained Earnings, Prior Years’ Losses, and the Net Profit or Loss for the Period.

These accounts comprise the entity’s gross sales for the operating period, sales deductions, cost of sales, operating expenses, income and profits from other operations, expenses and losses from other operations, finance costs, extraordinary income and profits, and extraordinary expenses and losses.

Cost accounts are the accounts in which expenses incurred to bring goods and services to the planned form and quality are accumulated and monitored after being converted into cost elements.

The expense accounts in this section are presented in two options, 7/A and 7/B, to provide flexibility in practice. Under option 7/A, expenses are determined in the general ledger on a functional basis; under option 7/B, they are determined on a nature-of-expense basis. In this way, entities are given convenience in classifying expenses and monitoring them in the general ledger according to their own organizational structures, sizes and needs, and broad flexibility is provided so that different cost accounting methods can be applied.

In the Uniform Chart of Accounts, account class number 8 has been left free. There is no mandatory or standard account definition in this class; codes and names are set by the entity according to need.

Its purpose is to track management accounting, cost analysis, statistics, internal reporting and IFRS/TFRS or consolidation information without disturbing the structure of the balance sheet and income statement accounts in classes 1–7 (especially tax/VUK-based bookkeeping).

Memorandum accounts are accounts in which transactions that do not affect the entity’s asset and liability structure and that are monitored solely for information and follow-up purposes (such as guarantees, sureties, custody items and values held in safekeeping) are recorded on a double-entry basis. Codes and names are determined by the entity according to need; MSUGT does not provide a standard list.

Uniform Chart of Accounts: Why It Exists and How It Works

Global comparability, the MSUGT framework and Turkish practice

What is a uniform chart of accounts?

Turkey’s Uniform Chart of Accounts (TDHP) requires entities that keep books on the balance-sheet basis to record under a common account framework, coding and posting rules. The goal is not identical codes alone, but reliable, understandable and comparable financial information across entities.

In the literature, a uniform account framework is a country-wide directive that classifies institutional accounts; a chart of accounts is the grouped list used inside one entity. Turkey’s binding framework is annexed to Communiqué No. 1 on the Application of the Accounting System (MSUGT), issued under VUK Arts. 175 and repeated 257.

Globalization and the need for uniformity

Uniform frameworks typically aim to:

Align account definitions across entities
Ease training, organisation and supervision
Support comparison and consolidation of results
Collect similar events in the same accounts

Country models differ; the next section summarises major examples. Turkey’s binding text remains MSUGT.

Uniform charts of accounts around the world

A uniform account framework is not unique to Turkey. Many developed and developing countries built national or sectoral charts/frameworks at different times. The summary below follows comparative accounting literature (notably France, Germany and the US). National rules change over time — always check the current local framework.

France — Plan Comptable Général

The French model is a classic standardised general chart for entities. Literature highlights unified terminology, uniform account classes, standard recording approaches and general valuation rules. It has also been discussed as an input to national planning and sector analysis, not only company bookkeeping.

Germany — general / industry chart tradition

Compared with France, the German tradition places more weight on the micro (entity) level and industrial comparison — supporting management and relative industry data. In practice, standard chart templates (industry charts) are common; this ecosystem may differ from Turkey’s single mandatory national communiqué.

United States

The US has little tradition of a mandatory nationwide general chart of accounts. Charts are usually entity-designed; consistency comes mainly from accounting standards (GAAP/IFRS), audit and sector rules. Historically, special uniform frameworks appeared in selected public/contract areas to make cost data comparable.

Other countries and the European context

In the 20th century, Belgium, Denmark, Sweden, Austria, Switzerland, Spain and Egypt also developed national uniform-system work. In some countries application stayed optional or covered only general accounting. Literature notes Spain’s move toward a uniform system in the context of European economic integration.

Today, in many advanced economies (especially Anglo-Saxon practice) the shared language is often IFRS or local GAAP rather than mandatory account codes. Continental Europe keeps a stronger national chart/framework tradition. Turkey’s MSUGT sits between these worlds: a mandatory national framework alongside a TFRS/IFRS reporting layer where applicable.

Note: Informational comparison only. For Turkey, the primary source is MSUGT. Academic context: Erol & Elagöz on globalization and world uniform charts of accounts.

History in Turkey

From the 1960s — Uniform accounting efforts accelerated especially in state economic enterprises (SOEs).
1989 — Capital-market rules and Law No. 3568 strengthened the profession and reporting discipline.
26 December 1992 — MSUGT No. 1 published in Official Gazette No. 21447 (repeated).
1993 — Optional early application.
1 January 1994 — Mandatory for calendar-year periods (special periods: from the 1994 opening).
16 January 1994 — Communiqué No. 2 clarified and corrected the first communiqué.

Customs Union dynamics in the mid-1990s reinforced the demand for comparable accounting data alongside economic integration. Later serial communiqués updated the chart while keeping the class–group–account core.

Primary source: MSUGT No. 1 (O.G. 26.12.1992 / 21447 Repeated), VII–VIII. Academic context: Erol, M. & Elagöz, İ., on globalization and world uniform charts of accounts (Selçuk University SBMYO Journal).

Nature and scope

MSUGT is more than an account list. It covers basic concepts, policy disclosure, financial-statement principles and presentation, plus the uniform framework and posting.

Accounts follow class–group–account hierarchy. Classes 1–7 are balance sheet and income statement; class 8 is free (entity-defined); class 9 is memorandum. There is no mandatory standard list for 8 and 9. Cost accounts use option 7/A or 7/B.

How to use this page

Browse classes, groups and accounts for MSUGT text, debit/credit posting and, where available, plain notes or sample entries. Search by code or name.

Tax-basis books vs IFRS/TFRS

In common practice, tax/VUK books stay in classes 1–7. IFRS/TFRS differences and management amounts are often in class 8 so they do not mix into tax-base accounts. This is a design choice; MSUGT does not mandate “IFRS must be in class 8”.

Memorandum accounts (9)

Guarantees, sureties, custody and similar off-balance follow-ups are recorded double-entry in memorandum accounts. Codes and names are entity-defined.

Uniform Chart of Accounts 2026

1/Current Assets

10/Cash and Cash Equivalents

11/Marketable Securities

12/Trade Receivables

13/Other Receivables

15/Inventories

17/Long-term Construction and Repair Costs

18/Prepaid Expenses for Future Months

19/Other Current Assets

2/Non-Current Assets

22/Trade Receivables

23/Other Receivables

24/Financial Non-Current Assets

25/Tangible Non-Current Assets

26/Intangible Non-Current Assets

27/Assets Subject to Special Depletion

28/Prepaid Expenses and Accrued Income for Future Years

29/Other Non-Current Assets

3/Short-Term Liabilities

30/Financial Liabilities

32/Trade Payables

33/Other Payables

34/Advances Received

35/Long-term Construction and Repair Progress Billings

36/Taxes and Other Liabilities Payable

37/Provisions for Liabilities and Expenses

38/Deferred Income and Accrued Expenses for Future Months

39/Other Short-Term Liabilities

4/Long-Term Liabilities

40/Financial Liabilities

42/Trade Payables

43/Other Payables

44/Advances Received

47/Provisions for Liabilities and Expenses

48/Deferred Income and Accrued Expenses for Future Years

49/Other Long-Term Liabilities

5/Equity

50/Paid-in Capital

52/Capital Reserves

54/Profit Reserves

57/Prior Years’ Profits

58/Prior Years’ Losses

59/Net Profit (Loss) for the Period

6/Income Statement Accounts

60/Gross Sales

61/Sales Deductions

62/Cost of Sales

63/Operating Expenses

64/Ordinary Income and Profits from Other Operations

65/Ordinary Expenses and Losses from Other Operations

66/Finance Costs

67/Extraordinary Income and Profits

68/Extraordinary Expenses and Losses

69/Net Profit and Loss for the Period

7/Cost Accounts

70/Cost Accounting Connection Accounts

71/Direct Raw Material and Supplies Costs

72/Direct Labour Costs

73/Manufacturing Overhead

74/Service Production Costs

75/Research and Development Costs

76/Marketing, Sales and Distribution Costs

77/General Administration Costs

78/Financing Costs (cost chart)

79/Expense by Nature (7/B option)

8/Free (optional KGK FRSHP OCI examples)

80/Period OCI not reclassified to profit or loss

81/Period OCI reclassified to profit or loss

82/Reclassification adjustments

83/Other OCI adjustments

84/84–89 Free accounts (KGK FRSHP)

9/Memorandum Accounts

90/Letters of guarantee

91/Endorsements and sureties

92/Guarantees

93/Items Given as Collateral or for Safekeeping

94/Items Received as Collateral or for Safekeeping

95/Tax base adjustments

96/Securities portfolio (memorandum)