-
April to June 2024
Article ID: NSS8605
Impact Factor:8.05
Cite Score:1831
Download: 59
DOI: https://doi.org/
View PDf
The Adoption of International Financial Reporting Standards (IFRS) in India: Benefits, Challenges and Nuances
Dr. Neha Bhanadari (Nahar)
Assistant Professor, Renaissance College Of Commerce And Management, Indore (M.P.)
Abstract :
In today's globalized business
environment, the need for consistent and comparable financial information has
become paramount. International Financial Reporting Standards (IFRS) offer a
potential solution, aiming to create a single set of accounting standards for
multinational companies. This paper explores the potential benefits and
challenges associated with IFRS adoption.It provides a comprehensive analysis
of the implications for various stakeholders, including companies, investors,
regulators, and accounting professionals. The paper also highlights the steps
taken by India towards IFRS convergence and evaluates the experiences of
companies that have implemented these standards.