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Volume : II, Issue : VII, August - 2012 International Financial Reporting Standards (I FRS) - Need, Problems,Challenges & Benefits Chandrakant M Kadole and Sachin M Ichalkaranje DOI : 10.9780/22307850, Published By : Laxmi Book Publication Abstract : Now days, the records maintained at trade and commerce enterprises in the Indian sub
context has been modified and re-structured. The advanced system as per international
standard has gained momentum in the field of accounts. The changes and heterogeneity
in the world of business has now a solution in keeping the records in standard format. The
recent practice in the field of accounts implicates more or less a change which favors
IFRS. In the era of global business, it is time to set standards which not only will define
the accounting matter but also make ease in designing financial statements. Keywords : Article : Cite This Article : Chandrakant M Kadole and Sachin M Ichalkaranje, (2012). International Financial Reporting Standards (I FRS) - Need, Problems,Challenges & Benefits. Indian Streams Research Journal, Vol. II, Issue. VII, DOI : 10.9780/22307850, http://oldisrj.lbp.world/UploadedData/1195.pdf References : - www.ifrs.org
- Mishra S.K.: The Chartered Accountant Journal, May, volume 59/no.11 PP 70-73
- Kaur Jasmine, “IFRS: A Conceptual Understanding and Framework”, The Indian Journal of Finance, January 2011.
- Ranjay, Accounting Standards & International Financial Standards, Divyagyan Academy, Delhi. P 392
- www.wilkipedia.org
- www.icai.org
- www.sebi.gov.in
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