• S.Murigendrappa

The International Accounting Standards Board (IASB) developed the International Financial Reporting Standards (IFRS) in 2001 as a collection of high-quality and universally acceptable financial reporting standards. Currently, Indian corporations prepare their financial statements in accordance with generally accepted accounting standards (GAAP), which are based on the International Financial Reporting Standards (IFRS). These concepts, however, have been significantly amended in accordance with Indian laws and norms. This paper examines the role and current status of IFRS in India, as well as the benefits and challenges of IFRS convergence in the country.

Convergence, IFRS, GAAP, Pros and Cons.

"“IFRS Convergence in India-A Conceptual Study”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.4, Issue 6, page no.641-645, June-2017, Available :http://www.jetir.org/papers/JETIR1706116.pdf

"“IFRS Convergence in India-A Conceptual Study”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.4, Issue 6, page no. pp641-645, June-2017, Available at : http://www.jetir.org/papers/JETIR1706116.pdf