Impact Of International Financial Reporting Standards On Manufacturing Companies In India

Abstract

This study looks at how Indian manufacturing companies are affected IFRS. A cohesive set of exceptionally high-quality IFRS, comprehensible, enforceable, and universally acknowledged. Standards as such are founded on well-defined concepts. These standards facilitate the ability among financiers and other parties who utilize financial statements to make meaningful comparisons between financial statements, ensuring a consistent and equitable basis for comparison with foreign counterparts. This study mainly focusing on to recognize the convergence process of Indian AS into IFRS and to identify the IFRS accounting norms that will impact manufacturing companies.