Economics, Econometrics and Finance
4 years ago

India's Adoption of IFRS Faces Challenges, Opportunities Ahead

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INTERNATIONAL JOURNAL OF MANAGEMENT AND SOCIAL SCIENCES
EMERGING OPPORTUNITIES, PROBLEMS & CHALLENGES IN ADOPTING IFRS IN INDIA
S. RuthSmiely, H. Vyshnavi

Paper Summary

Corporations worldwide are increasingly adopting International Financial Reporting Standards (IFRS) as the global standard for financial reporting. India has also moved towards adopting IFRS since 2001, with the aim of aligning with global practices. However, challenges such as legal requirements and conceptual differences have led to deviations from IFRS in India. The study explores the opportunities, problems, and challenges faced in implementing IFRS in the country.

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