Volume : 2, Issue : 10, October - 2013
To Study the Impact of Convergence to IFRS on Financial Position of a company and challenges faced by the company: A case study in India
Ms Apurva A. Chauhan
Abstract :
International Financial Reporting System (IFRS) is the new language of financial reporting and communication to investors and other stakeholders. More than 120 countries have adopted the process of convergence with IFRS. India has committed itself at the G–20 to make the companies IFRS compliant from April 1st, 2011 in a phased manner. The goal of IFRS is to create comparable, reliable and transparent financial statement that will facilitate greater cross–border capital raising, trade and better corporate governance practice. The paper attempts to show the impact of convergence to IFRS on financial position of the company. The secondary data is studied to know the impact of convergence to IFRS on financial position with the help of case study of WIPRO limited. It also discusses the challenges faced by firms in the process of adoption of IFRS in India. The paper concludes the ways through which these challenges can be addressed.
Keywords :
Article:
Download PDF Journal DOI : 10.15373/2249555XCite This Article:
Ms Apurva A. Chauhan / To Study the Impact of Convergence to IFRS on Financial Position of a company and challenges faced by the company: A case study in India / Global Journal For Research Analysis, Vol:2, Issue:10 October 2013