BIRLESIM_MUEHNDSILIK 2023 AR

BİRLEŞİM MÜHENDİSLİK 2023 ANNUAL REPORT 155 Birleşim Mühendislik Isitma Soğutma Havalandirma Sanayi Ticaret A.Ş. and its Subsidiaries (Amounts are expressed in terms of purchasing power of Turkish Lira (“TL”) as of December 31, 2023 unless otherwise stated.) Notes to the Consolidated Financial Statements For the Year Ended 31 December 2023 2. BASIS OF PRESENTATION OF FINANCIAL STATEMENTS (Continued) c) Amendments published by the International Accounting Standards Board (IASB) but not published by POA The amendments mentioned below have been published by the IASB but have not yet been adapted/published to TFRS by POA. For this reason, they do not form part of TFRS. The Group will make the necessary changes to the consolidated financial statements and footnotes after these changes enter into force in TFRS. Amendments to IAS 21 - Non-convertibility In August 2023, the IASB published amendments to IAS 21. The amendments determine how to evaluate whether a currency is convertible and how to determine the exchange rate when the currency is not convertible. According to the amendment, when an exchange rate forecast is made because a currency is not convertible, information is disclosed that allows users of the financial statements to understand how the fact that the relevant currency is not convertible affects or is expected to affect the performance, financial position and cash flow of the entity. It is not expected to have a significant impact on the Group’s consolidated financial statements. (k) Summary of Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand, cash at banks and time deposits with maturities less than three months. Cash and cash equivalents are short-term highly liquid assets that are readily convertible to cash and that do not have a maturity of more than three months and have no risk of value loss.