Challenges In Implementation Of International Financial Reporting Standards: Indian Context
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 9
Abstract
International Accounting is considered to be a universal system that could be adopted in all countries. A world-wide set of generally accepted accounting principles. Developments made by different international organizations which come under two categories; those backed by International or Political agreements and Voluntary organizations. The first category includes the United Nations and the European Union. The second category includes IASB, IFAC, IOSCO, and the European Financial Reporting Advisory Group. Further it includes, Confederation of Asia Pacific Accountants, American Accounting Association, The British Accounting Association, The Indian Accounting Association etc. This paper focus on the challenges faced in the process of implementation of IFRS, the accounting developments-influencing factors, review of previous studies, and benefits by adopting these kinds of international practices. It also includes the structure of IFRS foundation the esteem organization which involved in the process of internationalization of Accounting practices.
Authors and Affiliations
Manju B
Keywords
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- EP ID EP412840
- DOI 10.9790/487X-2009044146.
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