1.
Neelam Yadav
– Senior Research Fellow, Dept. Of Accountancy And Statistics, Mohanlal Sukhadia Univ., Rajasthan
2.
Shurveer S. Bhanawat
– Senior Research Fellow, Dept. Of Accountancy And Statistics, Mohanlal Sukhadia Univ., Rajasthan
Abstract
IFRSs are International Financial Reporting Standards, which are issued by the International Accounting Standard Board (IASB)1. IFRS is the globally accepted accounting standards. Indian accounting standard is converged with IFRS and called (IND AS). The objective of this paper is to examine the challenges and benefits of adoption of full-fledged IFRS in India. For the study, the survey method has been conducted. For data analysis, descriptive statistics and chi-square test have been used. Descriptive statistics results found the most effective, serious benefits and challenges on the basis of higher rank of mean score. Results of chi-square test revealed that there is no significant difference among different benefits and challenges available after the adoption of full-fledged IFRS, every benefit and challenge have equal importance for the Indian corporate sector.
Keywords Full-Fledged IFRS, Convergence, Challenges, Benefits, IND AS
