Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Articles Article Faculty Publications -Articles Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Impact of IFRS on the financial statements of select IT companies in India Subject The topic of the resource Convergence; Financial markets; International Financial Reporting Standards (IFRS) Description An account of the resource Globalization of economies and shift in financial environment from the traditional bank based one to a market based one necessitated a uniform financial reporting language across countries to facilitate comparisons. This resulted in the establishment of International Accounting Standard Board (IASB) which issued International Financial Reporting Standards (IFRS), a global standard for company financial statements. More than 120 countries, including European Union, Australia, Canada have already adopted IFRS. India was expected to converge with IFRS from April 2016 for listed and unlisted companies with a net worth of more than rs 500 crores. However, few Indian companies listed internationally are voluntarily reporting IFRS. The present study aimed to understand the effect of this voluntary reporting of IFRS on key financial ratios of four selected IT sector companies. The study compared 12 major financial ratios under IFRS and Indian Generally Accepted Accounting Principles (IGAAP) as reported in their financial statements for a period of 5years from 2009-10 to 2013-14. For the purpose of the study, financial ratios representing four key dimensions of companies namely liquidity, leverage, profitability, and efficiency were considered. To understand the statistical significance of the difference between the ratios, Wilcoxon signed rank test, a non parametric test was used. Of the 12 ratios analyzed, 10 were found to be statistically significant. Further, the study explained the financial statement items which cause the difference in the ratios of these companies. The results indicated current liability and shareholder's equity to be significant at the 10% level, thus explaining the difference in financial statement items under IFRS. Creator An entity primarily responsible for making the resource Chandrasekar V.; Kumar D.N.S. Source A related resource from which the described resource is derived Indian Journal of Finance, Vol-11, No. 5, pp. 7-18. Publisher An entity responsible for making the resource available Associated Management Consultants Pvt. Ltd. Date A point or period of time associated with an event in the lifecycle of the resource 2017-01-01 Identifier An unambiguous reference to the resource within a given context <a href="https://doi.org/10.17010/ijf/2017/v11i5/114244" target="_blank" rel="noreferrer noopener">https://doi.org/10.17010/ijf/2017/v11i5/114244</a> <br /><br /><a href="https://www.scopus.com/inward/record.uri?eid=2-s2.0-85018864602&amp;doi=10.17010%2Fijf%2F2017%2Fv11i5%2F114244&amp;partnerID=40&amp;md5=27177950dfe4c76de7c897e1dc1a6b1f" target="_blank" rel="noreferrer noopener">https://www.scopus.com/inward/record.uri?eid=2-s2.0-85018864602&amp;doi=10.17010%2fijf%2f2017%2fv11i5%2f114244&amp;partnerID=40&amp;md5=27177950dfe4c76de7c897e1dc1a6b1f</a> Rights Information about rights held in and over the resource Restricted Access Relation A related resource ISSN: 9738711 Format The file format, physical medium, or dimensions of the resource Online Language A language of the resource English Type The nature or genre of the resource Article Coverage The spatial or temporal topic of the resource, the spatial applicability of the resource, or the jurisdiction under which the resource is relevant Chandrasekar V., Adjunct Faculty, Department of Commerce, Christ University, Bangalore, 29, India; Kumar D.N.S., Centre for Research-Projects, Christ University, Bangalore, 29, India