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Fair Value Accounting in Banking – Issues in Convergence to IFRS

  • Swamy, Vighneswara
  • S, Vijayalakshmi

This paper intends to analyse and elucidate the impact of Fair Value Accounting on the banking industry in general and Indian Banking in particular in the light of the move towards convergence to International Financial Reporting Standards across the globe. In the light of criticism against fair value accounting for amplifying the subprime crisis and for causing a financial meltdown, the article has analysed the nature and impact of Fair Value Accounting in view of the recent announcement of the Indian version of IFRS i.e Ind AS by the regulators in India and its impact in relation to the contentious issues like; systemic risk, contagion and its impact on investors. Further, the article highlights the areas in which Indian banking industry is required to focus before and after the implementation of Fair Value Accounting and their consequences on the financial statements of the Bank.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 47514.

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Date of creation: 2012
Date of revision:
Publication status: Published in African Journal of Accounting, Auditing and Finance 3.1(2012): pp. 270-280
Handle: RePEc:pra:mprapa:47514
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  1. Rodrigo Cifuentes & Gianluigi Ferrucci & Hyun Song Shin, 2005. "Liquidity risk and contagion," Bank of England working papers 264, Bank of England.
  2. Wayne Landsman, 2006. "Fair value accounting for financial instruments: some implications for bank regulation," BIS Working Papers 209, Bank for International Settlements.
  3. Benston, George J., 2008. "The shortcomings of fair-value accounting described in SFAS 157," Journal of Accounting and Public Policy, Elsevier, vol. 27(2), pages 101-114.
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