Indian International Financial Reporting Standards
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International Financial Reporting Standards Ifrs And Indian Accounting Practices
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Author : Jagadish R. Raiyani
language : en
Publisher:
Release Date : 2012
International Financial Reporting Standards Ifrs And Indian Accounting Practices written by Jagadish R. Raiyani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Business & Economics categories.
Economic reforms initiated in India since early 1990s have led to increasing attention being devoted to accounting standards as a means towards ensuring potent and transparent financial reporting by corporations. International Financial Reporting Standards (IFRSs) - issued by the International Accounting Standards Board (IASB) as the uniform language of business to protect the interests of international investors - have brought into focus the need for reforms in accounting procedures in different countries. IFRSs have been made applicable in India for specified business entities. The new accounting norms have posed challenges for business enterprises in terms of presentation of accounts, and accounting policies and procedures. This book explains the requirements of IFRSs and the attending implementation hurdles in India.
International Financial Reporting Standards Ifrs Us Gaap Uk Gaap And Indian Gaap
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Author : A. L. Saini
language : en
Publisher:
Release Date : 2007
International Financial Reporting Standards Ifrs Us Gaap Uk Gaap And Indian Gaap written by A. L. Saini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Accounting categories.
Wiley International Trends In Financial Reporting Under Ifrs
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Author : Abbas A. Mirza
language : en
Publisher: John Wiley & Sons
Release Date : 2012-10-05
Wiley International Trends In Financial Reporting Under Ifrs written by Abbas A. Mirza and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-05 with Business & Economics categories.
Wiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.
Indian International Financial Reporting Standards
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Author : Pawan Jain
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2015-02-25
Indian International Financial Reporting Standards written by Pawan Jain and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-25 with categories.
The financial statements are prepared on the basis of various accounting practices. Among these accounting practices, some are quite discretionary in nature. The result is that a few of the companies follow them, adopt them while others do not. Due to this discrepancy, the results of two or more companies or for two periods are not comparable. This discrepancy exists on international financial reporting scenario wherein companies in different countries follow different reporting procedures making financial results non comparable. The Accounting Standards/financial reporting standards provide a framework for these accounting practices so that the financial statements of different enterprises become comparable. The book presents a detailed comparative study of International and Indian Accounting standards with special reference to selected Indian Companies. The Book discusses selected Indian Accounting Standards and how these companies are adopting these standards. The Book also explores the impact if companies adopt the International Accounting Standards and prepare and present their Accounts accordingly.
Convergence With International Financial Reporting Standards Ifrs In India
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Author : Deepak Adhana
language : en
Publisher:
Release Date : 2015
Convergence With International Financial Reporting Standards Ifrs In India written by Deepak Adhana and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The globalisation prompt more and more countries to open their doors to foreign investments and as the business expand across borders the need arises to recognize the benefits of having commonly accepted and understood financial reporting standards. The sound financial reporting standards underline the trust that investors place in financial reporting information: and thus play an important role in contributing to the economic development of a country. The mission of International Accounting Standards Board (IASB) is to develop a single set of financial reporting standards that are accepted worldwide. The Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI) is committed to convergence of its standards with those of IASB. However, deviations from International Financial Reporting Standards (IFRS) have been noted due to the some unavoidable reasons like legal and regulatory requirements, economic environment, level of preparedness and conceptual differences etc. Thus it can argued that even there has been lot of deliberation on convergence of Indian accounting standards with IFRS, it is difficult to adopt IFRS considering the indigenous problems.The present paper discusses the IFRS adoption in India and the utility for India in adopting IFRS, the problems and the challenges faced by Indian corporate in adopting IFRS. This paper will help in better understanding of this new language of financial reporting.
Harmony In Financial Standards Navigating Gaap And Beyond
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Author : Harshwardhan Soni
language : en
Publisher: GOOGLE PLAY BOOKS
Release Date : 2023-12-16
Harmony In Financial Standards Navigating Gaap And Beyond written by Harshwardhan Soni and has been published by GOOGLE PLAY BOOKS this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-16 with Business & Economics categories.
About This Book: Harmony in Financial Standards: Navigating GAAP and Beyond Introduction: "Navigating the Accounting Landscape" intricately explores the world of accounting principles, centering on Generally Accepted Accounting Principles (GAAP). The book takes a holistic approach, delving into recognition governance, meaningful presentation, and the advocacy for comprehensive disclosure in financial reporting. Foundations of Accounting Standards: The author highlights the advantages and benefits of adhering to accounting standards, emphasizing their pivotal role in ensuring transparency, comparability, and reliability in financial reporting. Examining financial statements over time, the book explores the complexities of intra-enterprise and inter-enterprise comparisons. It underscores the significance of synchrony in accounting policies for meaningful assessments. Nuanced Judgment in Complex Transactions: The confluence of principle-based accounting standards and legal imperatives is explored, showcasing how nuanced judgment plays a crucial role in navigating complex business transactions. Standardization as a Bastion Against Creative Accounting: The book underscores the salutary impact of standardization in acting as a bastion against creative accounting machinations, ensuring a fair and standardized representation of financial information. Protracted Standards Formulation Procession: The author meticulously details the arduous initiation, meticulous assemblage, fastidious deliberation, perspicacious circulation, engagement with external stakeholders, and culmination in an exposure draft during the standards formulation process. Legislative Mandate and Governance: Detailing in-depth appraisal and modification during council deliberations, the book explains the dissemination process for non-corporate entities and the corporate realm, showcasing a dual narrative. It also explores the legislative mandate shaping accounting standards. Global Accounting Dynamics: Taking a global perspective, the book explores the metamorphosis amidst global accounting dynamics. It delves into the imperative of convergence and introduces the International Accounting Standard Board (IASB) and the catalyst role of International Financial Reporting Standards (IFRS) in achieving global financial uniformity. Implementation of Indian Accounting Standards (Ind AS): Detailing India's journey towards IFRS convergence, the book unravels the intricacies of Indian Accounting Standards (Ind AS) and their evolution. It thoroughly explains the roadmap for Ind AS implementation, with phases like voluntary adoption and mandatory extension. Dynamic Landscape of Ind AS Implementation in the Insurance Sector: A comprehensive analysis is provided, focusing on the regulatory dynamics, tactical deferment, and withdrawal by the Insurance Regulatory and Development Authority of India (IRDAI). The chapter explores the challenges and uncertainties in implementing Ind AS 109 and Ind AS 117 in the insurance sector. Conclusion: "Paving the Way: A Chronicle of IFRS-Converged Indian Accounting Standards" concludes with an overview of the governmental commitment, legislative framework, iterative adjustments, and proactive evolution towards IFRS-converged Ind AS. The book serves as a valuable resource for professionals, academics, and students navigating the evolving landscape of accounting standards.
Accounting Standards In Bharat India English
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Author : Navneet Singh
language : en
Publisher: Navneet Singh
Release Date :
Accounting Standards In Bharat India English written by Navneet Singh and has been published by Navneet Singh this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.
Accounting Standards in Bharat Accounting standards in India, often referred to as Indian Accounting Standards (Ind AS), have evolved over the years to align with international accounting standards, particularly with the International Financial Reporting Standards (IFRS). Here's a brief overview: Convergence with IFRS: In 2011, the Ministry of Corporate Affairs (MCA) in India announced its plan to converge Indian accounting standards with IFRS. This convergence aimed to enhance transparency, comparability, and credibility of financial statements. Implementation: The adoption of Ind AS began in phases from April 1, 2016, for certain categories of companies. Initially, listed and unlisted companies meeting certain thresholds were required to adopt Ind AS. Later, the scope expanded to include more entities. Standards: The Ind AS framework comprises standards issued by the Accounting Standards Board (ASB) under the Institute of Chartered Accountants of India (ICAI). These standards cover various aspects of financial reporting, including presentation of financial statements, revenue recognition, leases, financial instruments, etc. Regulatory Framework: The Companies Act, 2013, governs the application of accounting standards in India. Under this Act, the Ministry of Corporate Affairs (MCA) has the authority to notify accounting standards. Regulatory Authority: The Institute of Chartered Accountants of India (ICAI) is the regulatory body responsible for issuing accounting standards in India. It works closely with the MCA in formulating and updating these standards. Changes and Updates: Accounting standards are periodically reviewed and updated to ensure they remain relevant and in line with global best practices. Stakeholder feedback, developments in international standards, and changes in the business environment are considered in these updates. Challenges: The adoption of Ind AS posed challenges for companies, including changes in accounting policies, systems, and processes. Training and education initiatives were undertaken to facilitate a smooth transition. Impact: The adoption of Ind AS has resulted in improved financial reporting quality, increased transparency, and enhanced comparability of financial statements. It has also facilitated better access to global capital markets for Indian companies. Overall, the adoption of Ind AS represents India's commitment to global financial reporting standards and its efforts to enhance the credibility and reliability of financial information.
International Financial Reporting Standards In Q A
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Author : FOLORUNSHO MEJABI
language : en
Publisher: Lulu.com
Release Date : 2015-11-08
International Financial Reporting Standards In Q A written by FOLORUNSHO MEJABI and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-08 with Business & Economics categories.
This book is aimed squarely at the new learning styles evident with today's students and addresses accounting industry changes as well. This textbook is not written as a reference text, rather it is written in another form where knowledge can be bridged and tested through questions and answers in a multiple choice format.The answers to the questions are provided towards the back pages of the text. Accounting has evolved over the years especially in the areas of Standard setting and adoption of International Financial Reporting Standards around the globe. The book basically covers all IASB standards including conceptual framework and IFRS on SMEs.It is good starting and ending points for accounting students, accountants, corporate gurus and managers of businesses. Let me conclude with the words of Confucius, who said "You cannot open a book without learning something."
Convergence Of International Financial Reporting Standards Ifrs In Indian Accounting Curriculum
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Author : Deepak Adhana
language : en
Publisher:
Release Date : 2020
Convergence Of International Financial Reporting Standards Ifrs In Indian Accounting Curriculum written by Deepak Adhana and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Last 30-40 years of globalisation have witnessed increasing interdependence among the world nations. Although nations are physically separated, they seem integrated through cross border flows of goods, services, people, capital, information and culture. Foreign Direct Investments, Foreign Institutional Investors, Merger and Acquisition, Franchising and Business Outsourcing are some example of international transaction in global business. Integration of the capital market has necessitated the unification of financial reporting methods and hence, the Accounting. Accounting is a language of any business. It helps to identify measure and communicate accounting information to permit informed judgement and decisions by the users of the information. With the intention of alliance in accounting methods, International Financial Reporting Standards, IFRS have developed.IFRS are accounting standards issued by the IFRS Foundation and Landon-based International Accounting Standards Board (IASB) to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. IFRS requires businesses to report their financial results and financial position using the same rules; this means that, barring any fraudulent manipulation, there is considerable uniformity in the financial reporting of all businesses using IFRS, which makes it easier to compare and contrast their financial results. IFRS are widely used around the world by more than 140 countries but have not replaced the separate accounting standards in the United States where US GAAP is applied.The present paper discusses the worldwide transition from national accounting standards to international accounting standards. The paper further exhibits progression of IFRS in an Indian context in the form of Ind AS? It also studies the probable benefits and challenges in process of convergence. Finally, the paper concludes with a foreseeable future perspective.
Insight Towards Adoption Of International Financial Reporting Standards Ifrs In India
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Author : Dr. Vani Ramesh
language : en
Publisher:
Release Date : 2019
Insight Towards Adoption Of International Financial Reporting Standards Ifrs In India written by Dr. Vani Ramesh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This study aims at understanding the perception towards adoption of International, Financial Reporting Standards (IFRS) in India. For the purpose, the Hofstede dimensions on perception is reviewed. The globalization creates an increased need for communication in the terms of language, awareness of culture differences and domestic customs. Moreover, the financial communication such as accounting and financial results is just as important for business leaders and employees to master. Hence Proponents of International Financial Reporting Standards (IFRS) claim that mandating a uniform set of accounting standards improves financial statement comparability that in turn attracts greater cross-border investment. Ministry of Corporate Affairs (MCA) has decided to go for full convergence of IFRS by 2018 through IND AS. Using Hofstede dimensions along with economic growth, demographic profile of respondents, economic openness and relative capital market size the logit regressions are analyzed. Structural Equation Modelling (SEM) is applied to test the confirmation factor analysis (CFA), accordingly path diagram is drawn. The primary data was collected with well structed questionnaire from auditors, accounting professionals working in companies and academicians Drop-off survey was conducted and the targeted sample size is 400 across India. The results indicate that as India is developing country, the financial structure is more likely to adopt IFRS. The Hofstede dimensions do have a significant impact as an exploratory variable, suggesting that Indian financial system do need to be more optimistic in adopting these standards to meet the global requirements of the stakeholders.