Please use this identifier to cite or link to this item: https://gnanaganga.inflibnet.ac.in:8443/jspui/handle/123456789/14657
Title: Cost-Benefit Analysis of Convergence with IFRS
Authors: Aruna Saini
Ramdhan Saini
Keywords: Accounting standard
comparability
consistency
convergence
reliability and uniformity
Issue Date: 2014
Publisher: Journal of Banking Information Technology and Management
Abstract: In the present era of globalization uniform accounting standards for global business are generally expected. The International Accounting Standard Committee (IASC) is committed to fulfil this expectation by developing a single set of standards for reporting financial statements, i.e. IFRS . The benefits that would flow from convergence with IFRS would be the high degree of reliability, relevance and comparability of international financial information and uniformity in quality of financial reporting across national borders. Th e objective of this study is to present a short review of the costs and benefits of convergence of accounting standards with IFRS .This paper discusses that adoption of IFRS is going to be very challenging and quite surprisingly rewarding al so. The vision of a global accounting convergence may inspire many minds but practically it is hard to go about embracing a situation where accounting principles and procedures are perfectly harmonized among countries throughout the world
URI: http://gnanaganga.inflibnet.ac.in:8080/jspui/handle/123456789/14657
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