UGC Approved Journal no 63975(19)

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Published in:

Volume 8 Issue 9
September-2021
eISSN: 2349-5162

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

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Published Paper ID:
JETIR2109526


Registration ID:
317081

Page Number

e164-e171

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Title

Awareness and Implementation of IFRS in the Indian Banking Sector- A study of the perceptions of the Bank Managers

Authors

Abstract

The International Financial Reporting Standards are the results for the standardisation of accounting across the world with a view to creating uniform practices comparable and comprehensible leading to transparency, best practices in governance and protection of the interests of the society in general and the stake holders in particular. India has also accepted these in principles, but they have not been fully or completely absorbed in the Indian accounting practices. The banking sector is controlled by the Reserve bank of India which further follows the direction of the Ministry of Corporate Affairs (MCA). The MCA had notified the implementation of IFRS in the Indian Banking Sector through a circular of the RBI dated August 04, 2016 .One of the specific instructions was the project management where the stake holders were expected to be made aware of the IFRS and the employees were to be trained for the purpose. Most of the literature on IFRS in Indian Banking referred only to the secondary data and no study was reported about the ground practices of the project management relating to the awareness and implementation of IFRS in the banking sector. To fill this research gap, a study was undertaken and this paper is the resulting documentation of the findings of the study. It is extremely surprising that the awareness of the stake holders about IFRS is totally nonexistent and the preparedness for its implementation absent.

Key Words

IFRS, Banking Organizations, Implementation of IFRS.

Cite This Article

"Awareness and Implementation of IFRS in the Indian Banking Sector- A study of the perceptions of the Bank Managers", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 9, page no.e164-e171, September 2021, Available :http://www.jetir.org/papers/JETIR2109526.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

"Awareness and Implementation of IFRS in the Indian Banking Sector- A study of the perceptions of the Bank Managers", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 9, page no. ppe164-e171, September 2021, Available at : http://www.jetir.org/papers/JETIR2109526.pdf

Publication Details

Published Paper ID: JETIR2109526
Registration ID: 317081
Published In: Volume 8 | Issue 9 | Year September-2021
DOI (Digital Object Identifier):
Page No: e164-e171
Country: DUMKA, JHARKHAND, India .
Area: Commerce
ISSN Number: 2349-5162
Publisher: IJ Publication


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