ACTIVITY SECTIONS STANDARD (TFRS 8) IN FOOTBALL CLUBS APPLICABILITY: FENERBAHÇE SPORTS CLUB EXAMPLE

Abstract

In sporting activities, football is undoubtedly a sport that people are most interested in. Football is a sport that affects many sectors such as football, tourism, construction, retail, transportation.Because of the fact that football have an effect upon many people, institutions, organizations and sectors, it is necessary to control them with legal regulations.local and international football authorities make legal regulations regarding tofootball. These institutions are international organizations such as FIFA, UEFA and football federations belonging to each country. Soccer clubs must comply with the regulations of international authorities such as FIFA, UEFA as well as the football federations that exceed the rules of football games. Most of world-wide football clubs are publicly held companies. It is important for investors who want to invest in door football teams to provide reliable, accurate and realistic information about the financial situation of the team. The purpose of this study is whether or not it is appropriate to report the operating segments in order to make the financial statements of football teams that are open to the public more comprehensible because of the fact that football teams carry out many other activities besides sports activities. For that purpose, firstly, TFRS 8 Operating Segments Standard is shortly explained, then the contribution of the reports to the “suitability to the needs and the fair presentation” is analyzed by developing reporting model according to the activity segmentation within the scope of TFRS 8 on the financial statements of Fenerbahçe Sports Club which is traded on Borsa İstanbul.