Analyzing the Impact of IFRSs Convergence in India a Study of Indian Banking Industry

Abstract

In recent years, International Financial Reporting Standards (IFRSs) have witnessed an newlineastonishing dominance and gained momentum across the globe. These globalized standards newlineare intended to harmonize accounting practices among countries, which will smoothly travel newlinethe path to conduct business internationally and make it easier to raise funds in global capital newlinemarkets. The shift from the rules-based Indian GAAP to the principles-based IFRSs will newlineimprove transparency rather than simply enforce compliance as it allows for some judgment newlineby implementers. newline