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International Journal of Applied Research
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ISSN Print: 2394-7500, ISSN Online: 2394-5869, CODEN: IJARPF

Impact Factor: RJIF 5.2

International Journal of Applied Research

Vol. 3, Issue 10, Part A (2017)

Impact of international financial reporting standards on monetary ratios

Dr. E Nixon Amirtharaj and Shankar R
Harmonization of accounting standards has become a highly demanded issue of discussion and debate among accounting professionals around the globe. Accounting Standards are the authoritative statements of best accounting practices issued by recognized expert accountancy bodies relating to various aspects of measurements, treatments and disclosures of accounting transactions and events, as related to the codification of GAAP. The ICAI’s roadmap to convergence with IFRS would not only save companies undertaking significant reconciliation procedures, which otherwise results in additional costs and the risk of being exposed to errors in reporting under the different accounting frameworks, but also significantly enhances the quality of financial reporting. The convergence to IFRS will greatly enhance the ability of Indian entities to raise and attract foreign capital at low cost. For this study all ten companies which have implemented IFRS since 2011 were considered. This study covers the period of four years from 2011-12 to 2015-16. The transition to the IFRS system impacts on the values of key financial ratios influences the assessment of the financial situations of firms, albeit it could not be proved that these differences are statistically significant.
Pages: 45-49  |  315 Views  18 Downloads
How to cite this article:
Dr. E Nixon Amirtharaj and Shankar R. Impact of international financial reporting standards on monetary ratios. International Journal of Applied Research. 2017; 3(10): 45-49.
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