INTERNATIONAL FINANCIAL REPORTING STANDARDS: OPPORTUNITIES AND CHALLENGES IN INDIAN CONTEXT by Amit Kumar Arora and Meenakshi Tyagi
By: Global Vision Publishing HouseSingle Issue
Single Issue
- INTERNATIONAL FINANCIAL REPORTING STANDARDS: OPPORTUNITIES AND CHALLENGES IN INDIAN CONTEXT by Amit Kumar Arora and Meenakshi Tyagi
- Price : 200.00
- Published on June 1, 2013
- Global Vision Publishing House
- Language - English
- Published na
About this issue
In the present era of globalization and liberalization, the business is not limited to the boundaries of the country only. The businessmen today are focusing on the other countries for investment purpose. Different countries are having their own accounting standards, and they have to maintain the accounting records as per their standards. Therefore, a problem of comparison is arising due to the change in the accounting standards. Accordingly, there is a need for the standards, which can be applied universally to make accounts uniform throughout the world. For this, International Accounting Standards Board (IASB) has given International Financial Reporting Standards (IFRS) a standardized format of financial reporting that is gaining the universal acceptance rapidly; till now, more than 120 countries have adopted the IFRS. These reporting standards will improves the quality and reliability of financial information. The present paper attempts to understand the various benefits by adopting IFRS, the challenges faced by India in adopting the same, and the likely ways to overcome the challenges.
About INTERNATIONAL FINANCIAL REPORTING STANDARDS: OPPORTUNITIES AND CHALLENGES IN INDIAN CONTEXT by Amit Kumar Arora and Meenakshi Tyagi
Global Journal of Business Management Vol. 6 No. 2, December 2012