IFRS and Ind AS Based Selective Ratio Analysis: A Case Study of Wipro Ltd.

Abstract

In the present globalised world emergence of single set of accounting standards is the need of the hour. After a series of amendments and modifications, the International Financial Reporting Standards i.e. IFRS has been framed which intended to serve the purpose of single and unified accounting standards all over the world. As India is opting glocal (i.e. global + local) policies for its business environment, took the step of convergence of IFRS i.e. global standards with its Indian GAAP i.e. local standards instead of direct adoption of IFRS. The converged form of IFRS or the Indian version of IFRS is termed as Indian Accounting Standards (or Ind AS). The outcome of the research is that there are little differences in ratios calculated under two different standards. This has tremendous implications for stakeholders.