Universal Journal of Accounting and Finance Vol. 6(2), pp. 29 - 46
DOI: 10.13189/ujaf.2018.060202
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Application of IFRS/Ind AS in Indian Public Sector Banks: An Analysis


Raj S Dhankar 1,2,*, Barnali Chaklader 3, Amit Gupta 4
1 Amity University, Raipur, Chhattisgarh, India
2 Faculty of Management Studies, University of Delhi, Delhi, India
3 Professor of Finance & Accounting, International Management Institute, New Delhi, India
4 Faculty of Management Studies, University of Delhi, New Delhi, India

ABSTRACT

This study examines the perception of Public Sector Banks in India towards the implementation of IFRS. The paper provides insights into the IFRS adoption process based on a questionnaire sent to Public Sector Banks in India in 2015. The 291 responses received indicate: (1) Loan Impairment will affect the bank's financial performances; (2) transparency of the results of the Banks will be increased; (3) global operations of the Banks will be impacted in positive direction; (4) the accessibility of the global capital market will increase; (5) corporate governance of the banks will increase; (6) the quality of financial information provided to the regulators and shareholders will improve; (7) the comparability aspect of financial statements will increase; (8) market capitalization of banks will improve; (9) the training needs of the staff will increase; (10) the opportunities for the accounting professionals will expand; (11) the flow of FDI in the banking sector will increase.

KEYWORDS
Public Sector Banks (PSBs), IFRS, Ind AS, ICAI, NACAS, IAS

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Raj S Dhankar , Barnali Chaklader , Amit Gupta , "Application of IFRS/Ind AS in Indian Public Sector Banks: An Analysis," Universal Journal of Accounting and Finance, Vol. 6, No. 2, pp. 29 - 46, 2018. DOI: 10.13189/ujaf.2018.060202.

(b). APA Format:
Raj S Dhankar , Barnali Chaklader , Amit Gupta (2018). Application of IFRS/Ind AS in Indian Public Sector Banks: An Analysis. Universal Journal of Accounting and Finance, 6(2), 29 - 46. DOI: 10.13189/ujaf.2018.060202.