• Rishi Agarwal
• Dr. R.K. Agarwal

In the present era of globalization a number of multinational companies are establishing their businesses in emerging economies and they are increasingly accessing the global markets to fulfill their capital needs by getting their securities listed on the stock exchanges outside their own country. Such environment requires uniform accounting standards for global business. To emanate such issues, one global accounting standard for reporting financial statement i.e. IFRS was developed. During the switch over phase from local GAAP to IFRS companies will have to modify their accounting system and processes as well as provide comparative financial information between their previous GAAP and their new IFRS compliant report. This article examines the financial statement effects on convergence to IFRS from Indian GAAP. The result concluded that the IFRS is fair valuation approach and are more transparent disclosures and Indian GAAP is conservative approach

International Financial Reporting Standards, Indian Accounting standards, Ind AS(carved out version of IFRS), Financial statement.

"FINANCIAL STATEMENT EFFECTS ON CONVERGENCE TO IFRS – A CAE STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 2, page no.119-125, February-2019, Available :http://www.jetir.org/papers/JETIR1902319.pdf

"FINANCIAL STATEMENT EFFECTS ON CONVERGENCE TO IFRS – A CAE STUDY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 2, page no. pp119-125, February-2019, Available at : http://www.jetir.org/papers/JETIR1902319.pdf