EconPapers    
Economics at your fingertips  
 

IFRS – preparedness of Indian banking industry

Mohammad Firoz

Journal of Financial Reporting and Accounting, 2011, vol. 9, issue 1, 47-53

Abstract: Purpose - The purpose of this paper is to analyze the preparations carried out by the Indian banking industry for the implementation of the International Financial Reporting Standards on and after 1 April 2011. Design/methodology/approach - The paper is based upon the critical analysis of the financial statements of the Indian banking industry and the relevant provisions of IFRS and other relevant laws applicable for the Indian banking industry. Findings - The main finding of this paper is that the Indian banking industry is preparing according to the target for convergence from 1 April 2011, but amendments in the various statutory laws of India are yet to be implemented/approved by the government. Research limitations/implications - This paper covers only the Indian banking industry and excludes all other industries in India. Originality/value - This paper shows the areas in which the Indian banking industry is required to focus before and after the implementation of IFRS, and their consequences on the financial statements of the bank.

Keywords: Banking; Economic convergence; Financial reporting; Accounting standards (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrapp:v:9:y:2011:i:1:p:47-53

DOI: 10.1108/19852511111139796

Access Statistics for this article

Journal of Financial Reporting and Accounting is currently edited by Prof. Aziz Jaafar and Prof Khaled Hussainey

More articles in Journal of Financial Reporting and Accounting from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().

 
Page updated 2025-03-19
Handle: RePEc:eme:jfrapp:v:9:y:2011:i:1:p:47-53