The finance and accounting profession is emerging as a fast growing profession. In this globalized era, IFRS is gaining more and more attention. Not only are these gradually accepted as a single accounting language for the preparation of financial statements, they are also taking place of...

Purpose: Convergence of accounting standards to IFRS has become an important issue in the present era of globalization as every country has their own set of financial statements. So there is a need for common accounting standards for increasing cross-border investments and borrowings. The main...