Volume : II, Issue : VIII, August - 2013

International Financial Reporting Standards (IFRS): A Study on the Present Scenario in India

Shibu Das

Abstract :

After the adoption of Liberalization, Privatization and Globalization policy (1991) by Indian Government, Indian economy has got acceleration for economic growth. With the growth of Indian Economy and increasing integration with the foreign economy, Indian corporate is raising capital internationally. Under the circumstances, it would be important for corporate leaders to accept IFRS for their financial reporting. The Ministry of Corporate Affairs has converged Indian GAAP with IFRS in phase wise, first phase on 1st April 2011. The convergence with IFRS stand is set to convert the scenery for financial reporting in India. The paper tries to explain the present status of IFRS and its challenges and advantages in the Indian scenario. This paper will help in the better understanding of this new language of Financial Reporting.

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Article: Download PDF    DOI : https://www.doi.org/10.36106/gjra  

Cite This Article:

Shibu Das / International Financial Reporting Standards (IFRS): A Study on the Present Scenario in India / Global Journal For Research Analysis, Vol:2, Issue:8 August 2013


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