convergence of indian accounting standards with ifrs implies that
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Answer:
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Answer:
The correct answer of this question is promote international business and increase the influx of capital into the country.
Explanation:
Given - Indian accounting standards with ifrs implies.
To Find - Write about convergence of indian accounting standards with ifrs implies.
When accounting standards are harmonised, it will encourage international trade and enhance capital inflows into the country. This will aid India's economic development and expansion. More cash will be available to domestic enterprises as a result of international investment.
India made the decision to adopt the International Financial Reporting Standards (IFRS) in 2007. Instead of fully adopting the IFRS standards, the ICAI and IASB (International Accounting Standard Board) chose to work together, collaborate, and establish quality and comparable accounting standards.
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