IFRS Adoption A Perceptual Study. Practical Insights in Implementation Issues

      Аннотация: The International Financial Reporting Standards (IFRS) issued by the International Accounting Board (IASB) is increasingly being recognized as Global Reporting Standards. To-date there has been limited research conducted into the effects/implications of IFRS adoption. This leads us to study and implementation of IFRS for rapid growth of international trade and internationalization of firms. The present study aims to identify and evaluate the materiality of the impact of IFRS adoption on companies’ financial position, performance of the financial year, examine individual standards and its effect on shareholders’ equity. This research even seeks to contribute to the latest discussions on the financial reporting. It starts out by giving an overview of the IFRS accounting policies, which are currently applied by the majority of participants. We have proposed a model of study to find out the views of Chartered Accountants , Company Secretaries ,Post Graduates, Doctorates and ICWA who are mainly concerned with the standards so that their acceptability towards IFRS can be assessed.

Ключевые слова: regulation, accounting standards, IFRS, SEC, U.S. GAAP, Standard Setting, Mandatory Disclosure