A Comparison between Global Accounting Practi...

A Comparison between Global Accounting Practices and Indian Accounting Practices

Author Name : CA Umesh Kumar Bhavsar, Dr. Bharti Saxena

ABSTRACT The accounting profession has evolved significantly over the years, shaped by the increasing globalization of economies and the rise of international standards. This review synthesizes findings from various studies on the differences and convergence between global innovative accounting practices and Indian accounting systems, focusing on the adoption of IFRS, technological advancements, and regional challenges. The comparison between global innovative accounting practices and Indian accounting reveals a complex interplay of convergence and divergence. While global practices, led by IFRS adoption, aim for uniformity, India’s approach reflects a cautious transition shaped by its unique socio-economic landscape. For India to fully embrace global innovations, efforts must focus on addressing challenges related to technological adoption, regulatory reforms, and stakeholder training.