Ifrs And India's Response

AN ASSIGNMENT REPORT ON THE TOPIC INTERNATIONAL financial inform STANDARDS (IFRS) & INDIA’S RESPONSE PREPAREED BY JAZBUL ISLAM-O8MBAIB-01 NOOR ALAM KHAN-08MBAIB-03 SUBMITTED TO DR. MOHD. AFAQ KHAN part OF BUSINESS ADMINISTRATION AMU, ALIGARH 2009 IFRS AND INDIA’S RESPONSE circumscribe: scallywag no. Introduction What is IFRS? Background of IFRS Why IFRS? internationalist get watchword in implementing IFRS A comparison of IFRS and INDIAN generally trustworthy news report principles Indian scenario Convergence with IFRS in India Opportunities of implementing IFRS coating Bibliography 3 3 3 4 5 7 19 20 20 22 22 2|P a ge IFRS AND INDIA’S RESPONSE knowledgeability: In an increasingly interconnected globose economy, numerous foodstuff participants ar considering the question of whether it is possible or sought after(prenominal) to move toward a more uniform global ― lexicon‖ for financial reporting. The pro ponents of this idea argue that a uniform check of global accounting standards, supported by strong goernance, main(a) standard-setting and a sound regulatory framework, could benefit investors and businesses alike.

Others suggest that nerve-wracking to establish a uniform set of global standards would barrage fire the risk of overlooking the unique economic, political, cultural, legal and regulatory realities that experience in different nations and regions. Over the past decade, this global word has intensified. In 2001, the International Accounting timeworns Board (IASB) adopted the first off gear it eration of International Financial Reporting! Standards (IFRS) to dish out as a possible pathway for establishing uniform global accounting standards. Since then, IFRS has been adopted or become accepted in over 100 countries. WHAT IS IFRS? International Financial Reporting Standards (IFRS) are Standards, Interpretations and the manakin for the Preparation and Presentation of Financial Statements (in the absence of a Standard or an Interpretation) adopted by the International Accounting...If you destiny to ascertain a full essay, order it on our website: OrderCustomPaper.com

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