• SOMASHEKHAR T H
• Dr. shobharani H

A good financial reporting system is the most important factor to run a Business effectively. Keeping this in mind, Accounting Professionals and Accounting Bodies of every country have its own separate accounting guidelines .Each country prepared its financial statement as per their accounting standards. As the world globalize, most of the countries doing trade and operations in across the boundaries . Therefore entities need to prepared different sets of accounts as per that country requirement in which country it is operating results in complexity to users in understanding and comparison. It creates the need for single set of accounting standards for all. IASB (formerly IASC) introduced IFRS initially it was adopted by European countries afterwards other countries also adopted IFRS or converged IFRS. In India the Institute of Chartered Accountants of India (ICAI) is playing considering role in implementation of IFRS in three phase manner .IFRS has not adopted as it is but it converged as per Indian environment and named Ind AS. This paper deals with the benefits and Challenges faced by accountants regarding implementation of Ind AS in india.

Indian Accounting Standards, IFRS, ICAI,IASB.

"A study on challenges and benefits of implementation of Ind AS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 5, page no.l734-l741, May-2025, Available :http://www.jetir.org/papers/JETIR2505C76.pdf

"A study on challenges and benefits of implementation of Ind AS", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 5, page no. ppl734-l741, May-2025, Available at : http://www.jetir.org/papers/JETIR2505C76.pdf