ACCOUNTING PROFESSIONALS VIEWED IFRS BEFORE AND AFTER ITS ADOPTION

The goal of the research was to find out how accountants in India feel about the adoption of IFRS. Based on two time periods—before and after IFRS adoption—this research determined the attitudes surrounding IFRS implementation. Although India has numerous potentials, it also has many obstacles, such as the following: the divergence between IFRS and IAS; changes to current legislation; concerns pertaining to law and regulation; the cost of compliance; and changes to tax reporting methods in relation to the introduction of IFRS. Using statistical methods according to IFRS and Indian GAAP, we discovered a difference in profitability; nevertheless, this difference is not statistically significant, and in most situations, we are able to satisfy the null hypothesis. Profitability metrics vary, even if statistical methods support the null hypothesis. Aside from a few of things, the table of differences reveals that almost all provisions are identical to IFRS. Comparing IFRS with Indian GAAP reveals some significant differences.