OPPORTUNITIES AND CHALLENGES IN ADOPTING IFRS IN INDIA

Abstract

It is outstanding that organizations everywhere throughout the world have turned out to be increasingly more globally arranged amid most recent couple of decades. They make combination, make venture, lead exchange and co-work over nation outskirts. Universal Budgetary Detailing Measures (IFRS) is turning into the worldwide dialect of business with over 40% of the world having moved to IFRS in the previous couple of years. By 2016, it is normal that all organizations in significant markets will utilize IFRS. The globalization makes an expanded requirement for correspondence in the terms of dialect, attention to culture contrasts and household traditions. In addition, the money related correspondence, for example, bookkeeping and budgetary outcomes is similarly as essential for business pioneers and workers to ace. Henceforth Defenders of Global Budgetary Revealing Models (IFRS) guarantee that ordering a uniform arrangement of bookkeeping measures enhances fiscal report equivalence that thusly draws in more prominent cross-fringe speculation.