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About the topic<br />Reason to choose this topic<br />Hypothesis Statement<br />Data Analysis, Findings & Testing<br />Con...
INTERNATIONAL FINANCIAL REPORTING STANDARDS<br />Implementation of IFRS<br />2<br />
Implementation of IFRS<br />3<br />Phases of Implementation<br />
RESEARCH METHODOLOGY<br />Implementation of IFRS<br />4<br />
Implementation of IFRS<br />5<br />Statement of the Problem<br />   To identify the possibility of implementation of IFRS ...
	The International Financial Reporting Standard in India will FAIL in its first phase of implementation.<br />One of the m...
Data Analysis and Finding<br />Implementation of IFRS<br />7<br />
Implementation of IFRS<br />8<br />1. Awareness for IFRS Implementation by 2011 in India.<br />
Implementation of IFRS<br />9<br />Awareness for IFRS Implementation by 2011 in India.<br />
Implementation of IFRS<br />10<br />2.Major problem faced for Implementation of IFRS.<br />
Implementation of IFRS<br />11<br />Major problem faced for Implementation of IFRS.<br />
NULL HYPOTHESIS (HO):<br />At maximum 60% of the respondents are considering insufficient     knowledge as a problem to im...
Implementation of IFRS<br />13<br />From Table we can clearly see that 57% of the respondents are considering insufficient...
Implementation of IFRS<br />14<br />The  diagram represents the bell graph for the null hypothesis<br />
Implementation of IFRS<br />15<br /> 3. Awareness of content of IFRS<br />
Implementation of IFRS<br />16<br />Awareness of content of IFRS.  <br />
NULL HYPOTHESIS (HO ):<br />     The International Financial Reporting Standard in India will be fail in its first phase o...
Implementation of IFRS<br />18<br />Calculation of Chi-Square Value<br />
 The value of chi-square is calculated as follows<br />
Implementation of IFRS<br />20<br />RESULT<br />Chi-Square value is derived as 4.9293<br />Chi-square table value at 5% le...
The survey has given us an idea about the state of International Financial Reporting Standards (IFRS) in India. <br />Majo...
Providing an infrastructure for uniform interpretation and application for the standards.<br />Strengthening of the traini...
This project has helped me to understand the importance and significance of the International Financial Reporting Standard...
							THANK YOU.<br />Implementation of IFRS<br />24<br />
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Ppt ifrs saurav sbs

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  1. 1. About the topic<br />Reason to choose this topic<br />Hypothesis Statement<br />Data Analysis, Findings & Testing<br />Conclusion & Recommendation<br />Personal Experience <br />Implementation of IFRS<br />1<br />AGENDA<br />
  2. 2. INTERNATIONAL FINANCIAL REPORTING STANDARDS<br />Implementation of IFRS<br />2<br />
  3. 3. Implementation of IFRS<br />3<br />Phases of Implementation<br />
  4. 4. RESEARCH METHODOLOGY<br />Implementation of IFRS<br />4<br />
  5. 5. Implementation of IFRS<br />5<br />Statement of the Problem<br /> To identify the possibility of implementation of IFRS in India.<br />Objectives of the Research<br />To find out the level of awareness regarding the<br /> process of convergence with IFRS.<br />To focus on the problems impeding the process of implementation of IFRS in India.<br />To find out the state of implementation of IFRS in India.<br />
  6. 6. The International Financial Reporting Standard in India will FAIL in its first phase of implementation.<br />One of the main limitations is the sample size.<br />Time and cost.<br />Due to lack of awareness.<br />Implementation of IFRS<br />6<br />HYPOTHESIS STATEMENTLimitations of the study:<br />
  7. 7. Data Analysis and Finding<br />Implementation of IFRS<br />7<br />
  8. 8. Implementation of IFRS<br />8<br />1. Awareness for IFRS Implementation by 2011 in India.<br />
  9. 9. Implementation of IFRS<br />9<br />Awareness for IFRS Implementation by 2011 in India.<br />
  10. 10. Implementation of IFRS<br />10<br />2.Major problem faced for Implementation of IFRS.<br />
  11. 11. Implementation of IFRS<br />11<br />Major problem faced for Implementation of IFRS.<br />
  12. 12. NULL HYPOTHESIS (HO):<br />At maximum 60% of the respondents are considering insufficient knowledge as a problem to implement IFRS<br />ALTERNATIVE HYPOTHESIS (Ha):<br /> At maximum 60% of the respondents are not considering insufficient knowledge as a problem to implement IFRS<br />The Z- Test is considered as test analysis.<br /> Ho: P ≤ 0.06<br /> Ha: > 0.04<br /> α=0.05 (Level of significance is assumed to be 5%)<br /> pHo=0.6 Hypothesizes value of the population are considering insufficient knowledge as a problem to implement IFRS<br /> qHo=0.4 Hypothesizes value of the population are not considering insufficient knowledge as a problem to implement IFRS<br />Implementation of IFRS<br />12<br />Objective 2 To focus on the problems impeding the process of implementation of IFRS in India.<br />
  13. 13. Implementation of IFRS<br />13<br />From Table we can clearly see that 57% of the respondents are considering insufficient knowledge as a problem to implement IFRS<br />N=60 (Number of respondents)<br />= 34/60, or 0.57 sample proportion complying with considering insufficient knowledge as problem for IFRS.<br />= 26/60, or 0.43 sample proportion are not complying with considering insufficient knowledge as problem for IFRS.<br />This is one–right tailed sample proportion test: the critical value of z test from the table for 0.45 of the area under the curve is 1.64<br />Calculations of z value<br />0.5<br />
  14. 14. Implementation of IFRS<br />14<br />The diagram represents the bell graph for the null hypothesis<br />
  15. 15. Implementation of IFRS<br />15<br /> 3. Awareness of content of IFRS<br />
  16. 16. Implementation of IFRS<br />16<br />Awareness of content of IFRS. <br />
  17. 17. NULL HYPOTHESIS (HO ):<br /> The International Financial Reporting Standard in India will be fail in its first phase of implementation.<br />ALTERNATIVE HYPOTHESIS (Ha):<br />The International Financial Reporting Standards in India will be success in its first phase of implementation. The Chi-Square is considered as test analysis.<br />Implementation of IFRS<br />17<br />Objective 3 To find out the state of implementation of International Financial Reporting Standards (IFRS) in India.<br />
  18. 18. Implementation of IFRS<br />18<br />Calculation of Chi-Square Value<br />
  19. 19. The value of chi-square is calculated as follows<br />
  20. 20. Implementation of IFRS<br />20<br />RESULT<br />Chi-Square value is derived as 4.9293<br />Chi-square table value at 5% level of significance with a degree of freedom of 9 are 16.92<br />Since the Chi-square calculated value < Chi-square table value, the Ho is Accepted.<br />
  21. 21. The survey has given us an idea about the state of International Financial Reporting Standards (IFRS) in India. <br />Majority of the respondents are aware about the convergence of IFRS and the Indian accounting standards but are not clear about the contents of IFRS. <br />The major problems faced by the clients during the implementation process is due to lack of knowledge of the accounting staff, insufficient human resources in the area of accounting and increase in time and cost due to the new method of recording financial statements, in that order. <br />Proper training in the field of financial accounting, individual IFRS and industry-specific IFRS is a must to make Indian accountants and financial professionals eligible enough to bring about a smooth transition. <br /> Respondents also stated that changes should be made in the Companies Act. <br />Implementation of IFRS<br />21<br />Overall Conclusion<br />
  22. 22. Providing an infrastructure for uniform interpretation and application for the standards.<br />Strengthening of the training infrastructure to ensure a quick dissemination of the standards.<br />The investors and external stakeholders should also be properly educated about the impending change so that they can understand the financial results of the company recording transactions under the International Financial Reporting Standards.<br /> Proper training programs have to formulate and accounting and finance professionals should be trained so as to make the transition smoother.<br />Banks like Bank of Baroda have hired consultants to train their staff about IFRS. This practice should be taken up by all other banks and firms.<br />RBI and IBA should come out with specific guidelines to effect a smooth transition in the Indian banks.<br />Implementation of IFRS<br />22<br />Recommendations<br />
  23. 23. This project has helped me to understand the importance and significance of the International Financial Reporting Standards to withstand in the global scenario as well.<br />Apart from these general learning, I had the opportunity to explore the following areas<br />The origin, evolution, types, and the boundaries of International Financial Reporting Standards. <br />I clearly understood how to carry out a research.<br />I understood various aspects of research in a more practical manner, starting from identifying a problem to eliciting the solutions to that problem<br />I got the Knowledge about of statistical tools and analysis of data.<br />Implementation of IFRS<br />23<br />Learning Experience<br />
  24. 24. THANK YOU.<br />Implementation of IFRS<br />24<br />
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