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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | Impact of IFRS Implementation on Financial Statement of Indian Companies |
| Authors Name: | Ekanshi Gupta , Dr Rishi Manrai |
| Unique Id: | IJSDR2302044 |
| Published In: | Volume 8 Issue 2, February-2023 |
| Abstract: | The Indian economy has seen a tremendous growth in the last few years. With the increasing importance of the Indian economy, there was a dire need to converge with the global accounting standards. The convergence of Indian Accounting Standards with IFRS will provide a lot of benefits to the Indian economy. It will improve the quality of disclosures, help in better understanding of the financial statements, improve comparability and understanding of the financial statements across the world, and will result in better decision making. India officially decided in 2007 to converge with IFRS but effectively it got implemented on 1st April, 2016. The purpose of this paper is to find out whether the transition in accounting world has benefitted India or not.The paper discusses the impact of transition on various items of the financial statements as well as financial ratios. The result shows that IFRS improves the quality of disclosures and enhance international comparability and understanding of accounting disclosure. This in turn will boost investment across the globe and will contribute to the Indian economy. |
| Keywords: | Keywords- Financial Statements, Convergence, India, Financial Ratios |
| Cite Article: | "Impact of IFRS Implementation on Financial Statement of Indian Companies", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.8, Issue 2, page no.255 - 262, February-2023, Available :http://www.ijsdr.org/papers/IJSDR2302044.pdf |
| Downloads: | 000337352 |
| Publication Details: | Published Paper ID: IJSDR2302044 Registration ID:203874 Published In: Volume 8 Issue 2, February-2023 DOI (Digital Object Identifier): Page No: 255 - 262 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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