Changes that ifrs bring to the financial statement presentation: a case study of infosys

The Indian economy is progressively opening up to International business and is now towards its road to global accounting convergence. This paper would briefly discuss the advantages and challenges that IFRS would bring in to the accounting system for the Indian Companies as identified by the big four consultancy groups. Further, it would discuss in detail the difference that IFRS will bring specifically to the presentation of the financial statements as compared to the financial statements prepared as per the Indian GAAP. It would then proceed to confer the financial statements of Infosys prepared under both the accounting systems and to reflect upon the stated differences and their effect on various ratios of the company.