Volume : IV, Issue : V, May - 2015
INTERNATIONAL FINANCIAL REPORTING STANDARD: IMPACT ASSESSMENT
Prof. Shimoli Dhami
Abstract :
International Financial Reporting Standard (IFRS) are now adopted by almost 100 countries and 12000 companies worldwide. India, Japan and USA are an exception. Mandating the implementation aims at uniform Financial reporting so as to have less complexities during cross border transactions. Many countries have recognized the need for convergence and they are moving towards the implementation stage. Accounting bodies such as the International Accounting standard Board (IASB) and the US Financial Accounting Standard Board (FASB) have already initiated the groundwork on converging International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).All the Boards across the world have set their own timetable for convergence into IFRS. The Institute of Chartered Accountants of India (ICAI) has also announced the mandatory adoption of the IFRS. This will be done by revising the existing Accounting Standards to make them compatible with IFRS.
Keywords :
International Financial Reporting Standards Impact on Statement of Indian Companies on key Sectors of India
Article:
Download PDF
DOI : 10.36106/ijsr
Cite This Article:
Prof.Shimoli Dhami INTERNATIONAL FINANCIAL REPORTING STANDARD: IMPACT ASSESSMENT International Journal of Scientific Research, Vol : 4, Issue : 5 May 2015
Number of Downloads : 752
References :
Prof.Shimoli Dhami INTERNATIONAL FINANCIAL REPORTING STANDARD: IMPACT ASSESSMENT International Journal of Scientific Research, Vol : 4, Issue : 5 May 2015
Our Other Journals...
-
Indian Journal of
Applied Research Visit Website -
PARIPEX Indian Journal
of Research Visit Website -
Global Journal for
Research Analysis Visit Website