Fair value accounting in banking - Issues in convergence to IFRS

Vighneswara Swamy

MPRA Paper from University Library of Munich, Germany

Abstract: This paper intends to analyse and elucidate the impact of Fair Value Accounting on the banking industry in general and Indian Banking in particular in the light of the move towards convergence to International Financial Reporting Standards across the globe. In the light of criticism against fair value accounting for amplifying the subprime crisis and for causing a financial meltdown, the article has analysed the nature and impact of Fair Value Accounting in view of the recent announcement of the Indian version of IFRS i.e Ind AS by the regulators in India and its impact in relation to the contentious issues like; systemic risk, contagion and its impact on investors. Further, the article highlights the areas in which Indian banking industry is required to focus before and after the implementation of Fair Value Accounting and their consequences on the financial statements of the Bank.

Keywords: IFRS; Banking; Convergence of IFRS; Financial reporting; Investment; Capital; Banking (search for similar items in EconPapers)
JEL-codes: E22 G24 M41 (search for similar items in EconPapers)
Date: 2010
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Related works:
Journal Article: Fair value accounting in banking - issues in convergence to IFRS (2012)
Working Paper: Fair Value Accounting in Banking – Issues in Convergence to IFRS (2012)
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