International Journal of Business Ethics in Developing Economies

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Unveiled the Impact of IF IF RS on Indian Corporate Sector


Affiliations
1 Department of Accountancy and Statistics, Mohanlal Sukhadia University, Udaipur, Rajasthan, India
2 Department of Accountancy and Business Statistics, Mohanlal Sukhadia University, Udaipur, Rajasthan, India
     

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IFRSs are International Financial Reporting Standards, which are issued by the International Accounting Standard Board (IASB)1. IFRS is the globally accepted accounting standards. Indian accounting standard is converged with IFRS and called (IND AS). The objective of this paper is to examine the challenges and benefits of adoption of full-fledged IFRS in India. For the study, the survey method has been conducted. For data analysis, descriptive statistics and chi-square test have been used. Descriptive statistics results found the most effective, serious benefits and challenges on the basis of higher rank of mean score. Results of chi-square test revealed that there is no significant difference among different benefits and challenges available after the adoption of full-fledged IFRS, every benefit and challenge have equal importance for the Indian corporate sector.

Keywords

Full-Fledged IFRS, Convergence, Challenges, Benefits, IND AS.
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  • Unveiled the Impact of IF IF RS on Indian Corporate Sector

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Authors

Neelam Yadav
Department of Accountancy and Statistics, Mohanlal Sukhadia University, Udaipur, Rajasthan, India
Shurveer S. Bhanawat
Department of Accountancy and Business Statistics, Mohanlal Sukhadia University, Udaipur, Rajasthan, India

Abstract


IFRSs are International Financial Reporting Standards, which are issued by the International Accounting Standard Board (IASB)1. IFRS is the globally accepted accounting standards. Indian accounting standard is converged with IFRS and called (IND AS). The objective of this paper is to examine the challenges and benefits of adoption of full-fledged IFRS in India. For the study, the survey method has been conducted. For data analysis, descriptive statistics and chi-square test have been used. Descriptive statistics results found the most effective, serious benefits and challenges on the basis of higher rank of mean score. Results of chi-square test revealed that there is no significant difference among different benefits and challenges available after the adoption of full-fledged IFRS, every benefit and challenge have equal importance for the Indian corporate sector.

Keywords


Full-Fledged IFRS, Convergence, Challenges, Benefits, IND AS.

References