Teachers’ Perspective towards Convergence of Indian Accounting Standards with IFRS | Original Article

ABSTRACT:

IFRS are International Financial Reporting Standards, which are issued by the International Accounting Standards Board (IASB), a committee bargaining of 14 individuals, from nine distinct nations, which cooperate to create worldwide accounting standards. International Financial Reporting Standards is worldwide reporting language. Convergence of accounting standards over the globe is picking up momentum. In resulting years, numerous different nations either embraced IFRS or united to IFRS. An up and coming economy on world economic map, India, as well, chose to meet to IFRS. Most standard setting bodies have recognized that a definitive objective of convergence is to have a solitary and universally acknowledged financially reporting framework. Convergence of IFRS around the globe is happening quickly to realize accounting quality improvement through a uniform arrangement of standards for financial reporting. Financial reporting results relies upon an assortment of components that impact those results and Accounting quality does not depend just on Accounting standards but rather likewise on the organizations' by and large institutional setting, including the English Language, Legal enforcement framework, Practical expenses for usage, Market get to conditions, Taxation framework, Size of capital markets and Multinational organizations. The essential point of this paper is to know the teacher's viewpoint towards convergence of Indian accounting standards with IFRS. The present paper endeavoured to the variables affecting the convergence of Indian Accounting Standards with IFRS from academician's point of view. A market get to condition is the prime impacting factor.