RECENT TRENDS IN ACCOUNTING: FOCUS ON IFRS IN INDIA'S CORPORATE SECTOR

Abstract

This study examines the adoption and impact of International Financial Reporting Standards (IFRS) on large
Indian companies, specifically focusing on six organizations in Rajasthan across sectors such as power, mining,
and oil & gas. A sample of 300 respondents, including auditors, accountants, and managers, was surveyed
using statistical methods like one-sample t-tests, correlation analysis, and regression modeling to assess the
benefits of IFRS implementation. The findings show that IFRS adoption positively influences data quality,
transparency, and accounting procedures. Regression analysis identified cost reduction and improved data
processing speed as key factors driving satisfaction. The results suggest that IFRS convergence with Indian
Accounting Standards (Ind AS) provides significant advantages, particularly for multinational and large-scale
organizations. However, the study's limitations include its small sample size and regional focus, limiting
generalizability. Future research could expand the sample to include smaller companies and a broader range of
industries and regions for a more comprehensive assessment of IFRS's impact across India.