Date of Submission
Campus Only Senior Thesis
Bachelor of Arts
© 2015 Vahin Khosla
As the business and economic world is constantly evolving due to globalization, the importance for a uniform, worldwide set of accounting standards can no longer be put to question. As each country has its own unique accounting standards, International Financial Reporting Standards (IFRS) are regarded as the solution to this concern as they would enable investors to value the financial position of a firm regardless of where it is located.
While a large number of countries have already pledged to converge to these standards, a large number of accountants wonder why India (with its increasing requirement for global capital) has had significant delays in converging with IFRS. While there are significant differences between IFRS and current Indian accounting standards, this paper provides a cost / benefit analysis of what the convergence with IFRS would bring to the Indian economy. Further, it analyzes the other non-qualitative factors that have led to delay in implementation and ends by looking at what Indian convergence with IFRS would add to the world economy.
Khosla, Vahin, "The Convergence To International Accounting Standards: A Detailed Case Study On India's Progress" (2015). CMC Senior Theses. 1125.
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