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.