Graduation Year

2015

Date of Submission

4-2015

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics-Accounting

Reader 1

Marc Massoud

Rights Information

© 2015 Vahin Khosla

Abstract

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.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff. It is not available for interlibrary loan. Please send a request for access through Contact Us.

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