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IFRS and its Impact on Indian Companies:An Empirical Study


Affiliations
1 Institute of Management Study, Kolkata, India
2 IMS Group, Kolkata, India
 

When a new accounting standard adopt by a country for its own domestic companies for reporting their financial statement, it may be impact on the quantitative as well as qualitative attributes of financial statements. IFRS become a global reporting language. Therefore India is keen to adopt it and make it mandatory for its own interest. In this study, the main purpose is to make a parallel comparison between IFRS and Indian GAAP and documented the basic difference between these two standards. It helps to find out the effects of IFRS adoption on the financial statements and market value, prepared by Indian Companies. To find out the statistical significance of the above stated activities, appropriate statistical test (Wilcoxon Signed Rank, regression, correlation) has been applied.

Keywords

Comparison, IFRS, Indian GAAP, Wilcoxon Signed Rank, Regression.
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  • IFRS and its Impact on Indian Companies:An Empirical Study

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Authors

Surajit Das
Institute of Management Study, Kolkata, India
Tapash Ranjan Saha
IMS Group, Kolkata, India

Abstract


When a new accounting standard adopt by a country for its own domestic companies for reporting their financial statement, it may be impact on the quantitative as well as qualitative attributes of financial statements. IFRS become a global reporting language. Therefore India is keen to adopt it and make it mandatory for its own interest. In this study, the main purpose is to make a parallel comparison between IFRS and Indian GAAP and documented the basic difference between these two standards. It helps to find out the effects of IFRS adoption on the financial statements and market value, prepared by Indian Companies. To find out the statistical significance of the above stated activities, appropriate statistical test (Wilcoxon Signed Rank, regression, correlation) has been applied.

Keywords


Comparison, IFRS, Indian GAAP, Wilcoxon Signed Rank, Regression.

References





DOI: https://doi.org/10.23862/kiit-parikalpana%2F2017%2Fv13%2Fi2%2F164516