Ifrs And India's Response

AN ASSIGNMENT REPORT ON THE TOPIC INTERNATIONAL monetary inform STANDARDS (IFRS) & INDIA’S RESPONSE PREPAREED BY JAZBUL ISLAM-O8MBAIB-01 NOOR ALAM KHAN-08MBAIB-03 SUBMITTED TO DR. MOHD. AFAQ KHAN subdivision OF BUSINESS ADMINISTRATION AMU, ALIGARH 2009 IFRS AND INDIA’S RESPONSE circumscribe: rascal no. Introduction What is IFRS? Background of IFRS Why IFRS? internationalist know in implementing IFRS A comparison of IFRS and INDIAN generally legitimate news report principles Indian scenario Convergence with IFRS in India Opportunities of implementing IFRS coda Bibliography 3 3 3 4 5 7 19 20 20 22 22 2|P a ge IFRS AND INDIA’S RESPONSE establishment: In an increasingly interconnected globose economy, numerous foodstuff participants be considering the question of whether it is possible or sought after(prenominal) to move toward a more uniform global ― diction‖ for financial reporting. The proponents of thi s idea argue that a uniform mark off of global accounting standards, supported by strong goernance, self-sufficing standard-setting and a sound regulatory framework, could benefit investors and businesses alike.

Others suggest that nerve-wracking to establish a uniform set of global standards would onset the risk of overlooking the unique economic, political, cultural, legal and regulatory realities that represent in different nations and regions. Over the past decade, this global script has intensified. In 2001, the International Accounting timeworns Board (IASB) adopted the eldest gear iteration of I nternational Financial Reporting Standards (! IFRS) to manage as a possible pathway for establishing uniform global accounting standards. Since then, IFRS has been adopted or become accepted in over 100 countries. WHAT IS IFRS? International Financial Reporting Standards (IFRS) are Standards, Interpretations and the manakin for the Preparation and Presentation of Financial Statements (in the absence of a Standard or an Interpretation) adopted by the International Accounting...If you requirement to ascertain a full essay, order it on our website: OrderCustomPaper.com

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