Implications of IFRS in the Indian corporate sector.

      Аннотация: The reporting practice based on the Indian Accounting Standards (IAS) which is followed by Indian corporate has been going to converge with global level standards, i.e., International Financial Reporting Standards (IFRS). In this situation the authors tries to understand the implications and the necessity of implementation of IFRS in India, and an effort is also made to understand the status of implementation of IFRS in other countries of the world. While adopting the convergence programme each country may face some obstacles and difficulties. The authors in this study makes an attempt to perceive these issues that may happen in India after the adoption of IFRS. As the Indian companies are following IAS, there are certain disparities between the Indian standards and IFRS. In the light of the IFRS implementation, the authors purports to study the difference and disparities of the existing reporting system with global standard. It is in this background this study is undertaken.

Ключевые слова: Accounting Standards, IFRS, Corporate Accounting, Ind AS.