International Financial Reporting Standards: An Empirical Study in India


Doctoral Thesis / Dissertation, 2022

338 Pages, Grade: 100


Abstract or Introduction

This study brings to light the essential need for implementing the International Financial Reporting Standards (IFRS) in Indian Banking Sector to create a robust banking leading to an enhanced economy. While it is estimated that for creating 5 trillion economy which is the target of the Government of India, an economic growth rate of 8 percent is considered necessary. Implementation of IFRS in the Banking Sector of India can empower the commercial banks through greater transparency and reduced Non-Performing Assets. This in turn can help expand commercial banking in India. While trust in the banking sector is essential and is encouraged by the authorities of the Reserve Bank of India, the recent judgment of the High Courts in India made it clear that the money deposited by the Depositors is completely returnable by the banks through the contract of business. This will turn on pressure on the commercial banks to run the banking business effectively and efficiently, and adopting and implementing the IFRS will be in their interests to run the business transparently.

This research has pointed out the necessary parameters and variables to be considered as important by the commercial banks. These variables have been identified as important for a Group Recommender System by calculating the Principal Component Analysis (A Group Recommender System can also use the Singular Value Decomposition (SVD), which is a classical method derived from linear algebra, in this research, it was preferred to work out the PCA, the Principal Component Analysis). Thus, this research is a forerunner for further focused studies that can be expanded in the Indian economy for better and greater insights for the project preparedness of the implementation of IFRS.

Details

Title
International Financial Reporting Standards: An Empirical Study in India
Grade
100
Author
Year
2022
Pages
338
Catalog Number
V1315686
ISBN (eBook)
9783346794048
ISBN (Book)
9783346794055
Language
English
Keywords
IFRS, BANKING, GROUP RECOMMENDER SYSTEM, INDIAN BANKING SYSTEM, BAD BANK, IND AS, FINANCIAL ACCOUNTING
Quote paper
Dr. Sonika Suman (Author), 2022, International Financial Reporting Standards: An Empirical Study in India, Munich, GRIN Verlag, https://www.grin.com/document/1315686

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