The differences between the national financial reporting systems used in various countries make it difficult to compare financial tables and harder for the investor to determine investment opportunities in different parts of the world, slows down the entrance of foreign capital into developing economies and increases the investment risk during the investors’ decision-making process. For the capital to move more easily and faster in the capital markets which integrate more and more every day, there is a need for a globally consistent common financial language which has almost become compulsory. The growing mutual dependence of the international finance and banking markets require compatible, comparable, correct and transparent fiscal tables. It is important for these fiscal tables to depend on quality financial reporting standards that produce transparent fiscal information. As a result of all these requirements, in 2005 thousands of companies in the world, especially in Europe, started to use the international financial reporting standards (IFRS). In Turkey, SPK (Capital Markets Board of Turkey) and BDDK (Banking Regulation and Supervision Agency) promulgated in the recent years IFRS compatible financial reporting standards to be used in the institutions affiliated with them. Turkish Accounting and Auditing Standards Authority translated the IFRS into Turkish and published it as Turkish Accounting Standards in 2006. On 9 July 2009 the International Accounting Standards Board (“IASB”) published the IFRS compatible Small and Medium Size Enterprises financial reporting standards (IFRS for SME), a product of a five-year-long study for the SMEs which are estimated to be approximately 95% of all the enterprises in the world. Each enterprise which prepares fiscal tables, uses and interprets these tables or makes decisions based on them, uses the IFRS. To know and master the practical application of these standards that are used all over the world, has now become a basic and obligatory element of accounting. For this reason, those who study or teach in the fields of accounting and finance should know these standards well. Although there are educational activities in this field in Turkey, the practical application of these standards remain weak. The use of IFRS, the EU applications, the use of IFRS in the fiscal tables of the global companies and/or SMEs in different sectors (food, health, textile etc) and in different process types (production, sale etc) are not commonly known and no applied training is provided in relation to these subjects. In line with these necessities, it is the common desire and need of our school and the partner schools to provide such an expertise in accounting and finance and an examination of the practical applications. In accordance with this need, the project will enable the participants to learn the international financial reporting standards, examine the IFRS practice in Europe, analyse the fiscal tables of enterprises operating in different sectors, and analyse the IFRS practice of global companies and SMEs. Thus the participants will be specialised in this field and be able to educate their students on a European level. Furthermore, as a surplus gain of the project, they will learn the IFRS updates, updating reasons and the environmental factors. The training document, which will be formed at the end of the project, especially the IFRS practice in the EU and the use of IFRS in different sectors, global companies and SMEs will be documented. This training document will be offered to the Ministry of Education as a resource. Thus a literature for the IFRS practice will have been created through the project. Moreover, by proposing this document to the universities, the project will be expanded and its gain will increase. The project will have 23 participants and take place in 2 periods. The first period of the mobility activity will take place in CHP West in Denmark (10 people) between 19.10.2014-01.11.2014 and the second period will take place in Stichting Roc Leiden in the Netherlands (13 people) between 25.01.2015-07.02.2015. In the first period Ümraniye 75.Yıl Cumhuriyet Lisesi (Ümraniye 75.Yıl Cumhuriyet High School) and İnegöl Ticaret Meslek Lisesi (İnegöl Vocational High School of Trade) will each send 5 participants. In the second period Suruç Ticaret Meslek Lisesi (Suruç Vocational High School of Trade) will send 5, Acıpayam Ticaret Meslek Lisesi (Acıpayam Vocational High School of Trade) will send 3 and Ali Tunaboylu Mesleki ve Teknik Lisesi (Ali Tunaboylu Vocational and Technical High School) will send 5 participants. The total duration of the project is 12 months, starting on 01.28.2014 and finishing on 31.07.2015.