THE IMPACT IFRS ADOPTION ON FINANCIAL PERFORMANCE OF COMPANIES

The aftermath of the IFRS launch had been highly anticipated by the accounting profession worldwide. The European Union, being the flag bearer of IFRS adoption, has already conducted numerous studies on its effect. The study is a closer-to-home study based on Indian companies. The test of the study includes a descriptive statistical examination of accounting-based ratios to make comparisons between the pre- and post-adoption periods. The second test was a normal distribution test. Then, lastly, a parametric test was instrumentalized to study the significant difference between pre-adoption and post-adoption periods. The results showed no significant difference in the financial performance before and after the IFRS adoption period. KEYWORDS: Pre- and Post- IFRS, Indian Companies, Financial ratios, K-S test, Independent t-test