Adoption of International Financial Reporting Standards(IFRS) in Accounting Curriculum in India
Neha Bajaj1, Harjit Singh2, Srinivas Shirur3

1Neha Bajaj, Research Scholar, Amity College of Commerce and Finance, Amity University Uttar Pradesh, India.

2Harjit Singh, Associate Professor, Amity School of Business, Amity University, Uttar Pradesh, India.

3Srinivas Shirur, Dean, School of Business Studies, Sharda University, Uttar Pradesh, India.

Manuscript received on 15 May 2019 | Revised Manuscript received on 22 May 2019 | Manuscript Published on 02 June 2019 | PP: 208-218 | Volume-8 Issue-7S2 May 2019 | Retrieval Number: G10360587S219/19©BEIESP

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Abstract: With the possibility of trading beyond the domestic territories, it has become indispensable for the companies, especially export firms to replace their domestic accounting standards with International Financial Reporting Standards (IFRS), India is not an exception. With the conversion of rules based on a principal-based set of accounting standards, it has become essential for both the education planners and educators to incorporate IFRS in the curriculum. The present study is an attempt to examine the impact of extent of introducing IFRS in accounting curriculum and its learning outcome. The findings of the research study reveal that though the knowledge of IFRS is essential to use in business terminology for both accounting and non-accounting operations and present a valuable contribution in the existing field of accounting curriculum but the success is purely dependable on efficient training of instructors and interest of stakeholders concerned.

Keywords: IFRS, Indian Education, Accounting Education, Accounting Curriculum, ICAI, Accounting Firms, Accounting Data.
Scope of the Article: Smart Learning and Innovative Education Systems