International Journal of Law

Authors
Dr. Deepika Dugar

Abstract
This article examines the Segment Reporting in India and benefits of embracing International Financial Reporting Standards (IFRS) by Indian elements and further examines the impact of reception of IFRS on companies' segment reporting when contrasted with segment reporting under Indian GAAP (IGAAP). It thinks about the effect of appropriation of IFRS 8 by taking the instance of M/s Sify Technologies Ltd., an Indian recorded element in the segment divulgences information under the new standard IFRS 8 opposite the Indian Accounting Standard, AS-17. It is seen from the examination that there are sure stamped deviations in segment benefit and misfortune as disclosed by the financial proclamations of M/s Sify Technologies Ltd. as announced under IGAAP and those detailed under IFRS. The significant contrast between the two reporting is the data given and the introduction necessity. Further, under IFRS 8, the revelation prerequisites identified with geographical segments are altogether decreased or in the vast majority of the cases totally lost, which is a noteworthy worry to stakeholders. Further, there will be absence of comparability of segment data between companies as IFRS gives carefulness to the Chief Operating Decision Maker to pick what to disclose and the way in which the data can be disclosed.