An Empirical Study on Indian Financial Reporting System | Original Article

ABSTRACT:

Accounting is a business language to communicate the rest world about the performance, state and growth of a firm or business. A wider acceptance of IFRSs is visible in more than hundred countries that have identified the requirement of the policy or implemented IFRSs in different ways. The purpose of present study is to measure the degree of preparedness among financial professional regarding the IFRSs implementation. This study employed random sampling to collect data from 120 financial professional using questionnaires. The 15 variables of preparedness were grouped in to 4 major factors through Exploratory Factors Analysis. The results showed that Organizational support plan was the most prominent factor followed by organizational resource plan. The results of the present can provide some useful recommendations to researchers and policy makers.