Adapting or Adopting the IFRS - Accounts

Are we going to adapt or adopt the IFRS ?

First of all we have to clearly understand " adapt" or adopt"  so on this base, as per my understanding and in simple term to adapt means to  accept whereas to adopt means to borrow.

On this ground I would like to say that  in current globalization scenario if  India has being a part of globalization and expand or to spare our flag we have to accept International standardize standard because at present our MNC going to outside and outside MNC coming to India.

This is only understanding which I would like to share here only.

Thanking You,

Regards

Biren Rajpura

MBA Finance

26.11.09