Business, Management and Accounting
5 years ago

Uniform Accounting Standards Boost Cross-Border Investments and Economic Growth in India

2 views
American Journal of Theoretical and Applied Business
Implementation of IFRS as Indian Accounting Standard for Similarity in Financial Reporting in India: Challenges & Benefits
Ram Singh, Santosh Kumar Srivastava

Paper Summary

The article discusses how India is implementing International Financial Reporting Standards (IFRS) to improve financial reporting. The researchers found that adopting IFRS can lead to benefits such as clearer and more comparable financial information, lower processing costs, and increased investments. However, there are challenges to overcome for successful implementation. India has created its own accounting standard, Ind-AS, to align with IFRS. The study emphasizes the importance of following certain requirements for effective IFRS application to fully reap its benefits.

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