Name :

Designation :

Company :

Address :

Questionnaire :

Every question will have five options out of which you have to select the option which is
best suited as the answer according to you and type the option’s number in the
corresponding text box of the question.

The options are

1. Strongly Agree 2. Agree 3.Neutral 4.Disagree 5.Strongly Disagree

 If you strongly agree with the statement or question, type “1” in the
corresponding text box
 If you don’t strongly agree, still agree with the statement or question, type
“2” in the corresponding text box
 If you neither agree nor disagree with the statement or question, type “3”
in the corresponding text box
 If you disagree with the statement or question, type “4” in the
corresponding text box
 If you strongly disagree with the statement or question, type “5” in the
corresponding text box

1. Usage of “fair value concept” under IFRS more beneficial than “historical value
concept” under Indian GAAP :

2. Indian accounting’s procedures or theme of form preferred over IFRS’s theme of

substance :

3. Do you feel that Indian accounting procedures are more flexible than IFRS
accounting standards ?

4. Do you feel that “Disclosures” under IFRS reveals sensitive information and hurts
the company’s prospects of profit?

5. Absence of extraordinary or exceptional item’s concept impairs the analysis of

impact of these items in the reported performance :
6. Is restatement of financial accounts necessary ?

7. Preparation of general purpose statements is preferred to be in Indian rupees than

functional currency :

8. Dividends is best when reported as a non adjusting event under IFRS than
disclosing it in report of the approving authority.

9. Do you feel that having so many regulators makes it difficult to comply with
IFRS ?

10. Is the contrasting rules between Indian accounting procedures and IFRS makes it
difficult for adoption of IFRS converged rules ?

11. Different regulatory guidelines of presentation format and accounting treatment

makes you prefer for a single guideline

12. Do you think accepting converged rules impact court rulings on accounting ?

13. Converged rules creates income tax issues ?

14. All stakeholders and adequate regulatory changes are necessary in preparing
converged Indian standards ?

15. Indian accounting standards is better than IFRS.

16. IFRS implementations are time consuming and makes it difficult for the company
to report.

17. IFRS converged rules increases profit of the company.

18. IFRS converged rules makes the Consolidated Financial Statement transparent.
19. Shareholders prefer IFRS based statements for investment to Indian Standards
based statements

20. Business Combinations are better in IFRS than Indian Standards