Ifrs And India's Response

AN ASSIGNMENT REPORT ON THE TOPIC

INTERNATIONAL FINANCIAL inform STANDARDS (IFRS) & INDIA’S RESPONSE

PREPAREED BY

JAZBUL ISLAM-O8MBAIB-01 NOOR ALAM KHAN-08MBAIB-03

SUBMITTED TO

DR. MOHD. AFAQ KHAN

DEPARTMENT OF BUSINESS ADMINISTRATION AMU, ALIGARH 2009

IFRS AND INDIA’S RESPONSE

circumscribe: Page no. Introduction What is IFRS? Background of IFRS Why IFRS? internationalist experience in implementing IFRS A comparison of IFRS and INDIAN generally accepted news report principles Indian scenario Convergence with IFRS in India Opportunities of implementing IFRS Conclusion Bibliography 3 3 3 4 5 7 19 20 20 22 22

2|P a ge

IFRS AND INDIA’S RESPONSE

INTRODUCTION: In an increasingly interconnected global economy, numerous market participants are considering the question of whether it is possible or sought after to move toward a more uniform global ― vocabulary‖ for financial reporting. The proponents of this idea argue that a uniform commemorate of global accounting standards, supported by strong goernance, independent 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 barrage the risk of overlooking the unique economic, political, cultural, legal and regulatory realities that exist in different nations and regions. Over the past decade, this global word has intensified. In 2001, the International Accounting timeworns Board (IASB) adopted the first gear iteration of International Financial Reporting Standards (IFRS) to serve 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 want to ascertain a full essay, order it on our website: Ordercustompaper.com



If you want to get a full essay, wisit our page: write my paper