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India. Convergence of International Financial Reporting Standards: An Analysis of Issues in Developed and Developing Economies

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IFRS in a Global World

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Abstract

The present paper purports to review the existing International Accounting Standards (IAS) and convergence of International Financial Reporting Standards (IFRS) and its associated issues in developed and developing economies. This is intended to stimulate an academic debate on various issues pertaining to the IFRS in promoting good financial reporting standards in international business world. This paper is structured on the convergence mechanism regarding IFRS in the developing economies based on the existing practices. This uses both primary and secondary data for analysing the background and adoptability of IFRS in the developing countries, more so in Indian context. Further it examines the modus operandi and the practical difficulties in the implementation of IFRS. This examines the origin, development, road map, practical issues and emerging challenges in implementing IFRS in developing economies more particularly in India. This also offers some practicable solutions for overcoming major problems in India. This paper contributes much to the existing literature on IFRS in the world economy in general and in the developing economies in particular. As there is very trivial amount of research on the IFRS in India, this may be useful to the researchers, policy-makers, research bodies and corporate sector.

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Author information

Authors and Affiliations

  1. REVA University, Bangalore, India

    Himachalam Dasaraju & Mutyala Subramanyam

Authors
  1. Himachalam Dasaraju
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  2. Mutyala Subramanyam
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Corresponding author

Correspondence to Himachalam Dasaraju .

Editor information

Editors and Affiliations

  1. Paris-Dauphine University, Paris cedex 16, France

    Didier Bensadon

  2. Paris-Sud University, Sceaux, France

    Nicolas Praquin

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Dasaraju, H., Subramanyam, M. (2016). India. Convergence of International Financial Reporting Standards: An Analysis of Issues in Developed and Developing Economies. In: Bensadon, D., Praquin, N. (eds) IFRS in a Global World. Springer, Cham. https://doi.org/10.1007/978-3-319-28225-1_15

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