UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 6 Issue 4
April-2019
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR1904T81


Registration ID:
314492

Page Number

608-616

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Title

ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS AND ITS IMPACT ON TRANSITION IN INDIA

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Abstract

International Financial Reporting Standards (IFRS) implementation at the organizational level is examined in this research. As a result of interviews with professionals who have worked on over 170 transition projects, this paper identifies key obstacles to a successful adoption of IFRS. Lack of education and training, inability to get executive level support, inability to recognize and react to the broader business consequences of the change, and inability to capture required information for reporting under IFRS are among the difficulties identified. Due to globalization, foreign nations now have access to local markets that they previously did not. On April 1, 2019, the Indian government pledged to bringing Indian accounting standards into line with IFRS. India's IFRS implementation process is examined in this research. It also addresses India's adoption of IFRS and the benefits of doing so. Issues encountered by regulators, accountants, and firms in India's adoption of IFRS are discussed, as well as the current level of convergence with IFRS.

Key Words

Financial, Adopting, Transition, Implementation, IFRS

Cite This Article

"ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS AND ITS IMPACT ON TRANSITION IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.608-616, April-2019, Available :http://www.jetir.org/papers/JETIR1904T81.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS AND ITS IMPACT ON TRANSITION IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp608-616, April-2019, Available at : http://www.jetir.org/papers/JETIR1904T81.pdf

Publication Details

Published Paper ID: JETIR1904T81
Registration ID: 314492
Published In: Volume 6 | Issue 4 | Year April-2019
DOI (Digital Object Identifier):
Page No: 608-616
Country: -, -, India .
Area: Engineering
ISSN Number: 2349-5162
Publisher: IJ Publication


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