Information asymmetry is a concept that points to the imbalance of information between the parties. It is not only theoretically but also practically impossible to share the whole information about the enterprises with the social stakeholders. However, at least, it is essential that qualified information to adequately meet their information needs should be obtained for social parties whom needs to make an economic decision about the enterprise. The information presents in financial reports, and activity reports if activity reports has been publishing. The financial reporting framework sets out what should be presented at a minimum level in the financial reports. The financial reporting framework includes provisions of applicable legislation in that country. The purpose of this study is to examine whether the Set of Standards of financial reporting play a role in decreasing the information asymmetry than Turkish Uniform Accounting System (TUAS). For such an investigation, the operating example is based on the implementation of both systems. In other words, the public enterprise example was used.