Big GAAP/Little GAAP: Will The Debate Ever End? (original) (raw)
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I dedicate this thesis to my parents, Mustafa and Amal Sawani. Without their duaas, patience, understanding support and most of all love, the completion of this work would not have been possible. v ACKNOWLEDGMENTS I wish to give thanks and praise first and foremost to Allah for giving me the strength and fortitude to complete this degree. I wish to thank my family in particular my parents, brother, Ali, whose support was essential to my completion of this dissertation and sister, Abrar, who tirelessly collected data with me. I wish to express my deep gratitude and thanks to Dr. Steve Lin, for his dedication, guidance and enthusiasm in helping me develop my proposal and making this dissertation possible. I would also like to thank the many professors at Florida International University's School of Accounting for their encouragement and guidance throughout the last four years as I worked toward completion of my degree. I would also like to thank my fellow graduate students in the accounting program for their comradery and support. Finally, I want to thank the KPMG Foundation for awarding me the Minority Accounting Doctoral Scholarship for the duration of my time as graduate student. vi
Indian GAAPs, IFRS, and Its Comparison: An Empirical Critique
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Globalization plays a vital role in making the financial markets of the world borderless, and as a result, businesses (including small-and medium-sized enterprises) are competing for equity at the best price everywhere possible. Investors and borrowers seek investment opportunities wherever they can obtain the best returns per the risks involved and assess the risks and returns associated with various investment opportunities that require accurate and credible financial information for investors and borrowers [14]. The present study examines the perception of the accounting professionals towards the comparison of Indian GAAP [Generally Accepted Accounting Principles (GAAPs) are those concepts and conventions on which the accounting system is based. The primary objective of these principles is to bring uniformity and consistency in the preparation and presentation of final statements] with IFRS [To create a common accounting language throughout the world, so that businesses and their financial statements can be consistent and reliable across nations, and International Financial Reporting Standards (IFRS) were created by International Accounting Standards Board (IASB) in the year 2001].
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