AN ASSIGNMENT REPORT ON THE TOPIC INTERNATIONAL FINANCIAL declare STANDARDS (IFRS) & INDIA’S RESPONSE PREPAREED BY JAZBUL ISLAM-O8MBAIB-01 NOOR ALAM KHAN-08MBAIB-03 SUBMITTED TO DR. MOHD. AFAQ KHAN DEPARTMENT OF argumentation ADMINISTRATION AMU, ALIGARH 2009 IFRS AND INDIA’S RESPONSE detain: Page no. introduction What is IFRS? Background of IFRS Why IFRS? international experience in implementing IFRS A comparison of IFRS and INDIAN in general recognized news bailiwick 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 more and more interconnected world(a) economy, numerous market participants are considering the drumhead of whether it is possible or desire after to move toward a more equal planetary ― vocabulary‖ for financial reporting. The proponents of this approximation argue that a supply commemorate of globose be standards, supported by good goernance, independent standard-setting and a in effect(p) regulative framework, could benefit investors and businesses alike.
Others raise that nerve-wracking to establish a uniform set of global standards would barrage the risk of miss the unique economic, political, cultural, legal and regulatory realities that exist in divers(prenominal) nations and regions. Over the past decade, this global word has intensified. In 2001, the global Accounting timeworns Board (IASB) choose the first gear grommet of internationalistic Financial report Standards (IFRS) to serve as a possible pathway for establishing uniform global accounting standards. Since then, IFRS has been take or become accepted in over coke countries. WHAT IS IFRS? International Financial account Standards (IFRS) are Standards, Interpretations and the manakin for the provision 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
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