Indian Journal of Finance
By: Associated Management Consultants (P) Ltd.Single Issue
Single Issue
- INDIA’S ROADMAP OF CONVERGENCE TO INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
- Price : 80.00
- Published on January 19, 2013
- Associated Management Consultants (P) Ltd.
- Issues 356
- Language - English
- Published daily
About this issue
International Financial Reporting Standards (IFRS) previously known as International Accounting Standards (IAS) are standards and interpretations adopted by the International Accounting Standards Board (IASB). IASB adopted IAS in April 2001, and renamed it as IFRS. IFRS are ‘principle-based’ standards rather than ‘rule-based’ standards that are currently followed. Under IFRS, there is a need to apply professional judgments that are consistent with intent and spirit of standards. The Indian companies have to shape up their models and strategies in order to comply with the IFRS roadmap.This research paper attempts to highlight challenges; steps needed to be taken to address such challenges and map the current preparation for convergence to IFRS. India will enjoy numerous benefits by joining the ranks of a 100-plus group of nations that have successfully implemented IFRS like the European Union, Australia, Singapore, Sri Lanka and others.
About Indian Journal of Finance
Indian Journal of Finance, a source of sophisticated analysis of developments in the rapidly expanding world of finance, is a monthly journal with topics ranging from corporate to personal finance, insurance to financial economics and derivatives.