FINANCIAL REPORTING PRACTICES IN INDIA, UNITED STATES AND NIGERIA WITH REFERENCE TO IFRS-A COMPARATION

Abstract

Financial reporting is the performance of financial activities of a business, and other stake holders. The concept of accounting has gone from different transformational stages at national as well as international level. Different countries are rich in accounting policies and practices but they are indifferent to international dimensions of accounting and financial reporting with refer to IFRS. The paper emphasis the factors affecting international financial reporting practices in selected countries like India, U.S and Nigeria. The paper mainly focuses on factors affecting IFRS, benefits and challenges in adopting IFRS and financial reporting practices in India, US, Nigeria with reference to IFRS.