Conversence of Accountins Standards with Internationa Financial Reportins Standards in India- Impact on Earninss Per Share of Selected Companies

Abstract

To make the world a global market International Accounting Standards Board (lASB) framed International Financial Reporting Standards (IFRS) for creating uniformity in Accounting all over the world. To make India a global competitor Ministry of Corporate Affairs(MCA) also has made reporting as per IFRS mandatory from April, 2011, for the companies listed on Bombay Stock Exchange and National Stock Exchange having paid up capital of Rs.1000 Cr. or more Many foreign researches say that there are significant changes in financial performance as well as in EPS of the companies on convergence of accounts with IFRS.