Delhi-based management school hosts an insightful lecture on financial accounting convergence

Dr. Pooja Sharma, Assistant Professor at Apeejay School of Management (ASM), Dwarka, skilfully organised a compelling guest lecture for the students of PGDM – Term 1 and PGDM-M – Term 1 on the topic, “Financial Accounting Convergence: Understanding GAAP, IFRS and IndAS”. The lecture featured CA Piyush Dadhich, a distinguished Senior Associate at RSM USLLP, as the keynote speaker.

Having a rich background as a Chartered Accountant with a B.Com. (H) degree, CA Piyush Dadhich brought a wealth of corporate experience to the lecture, enriched by exposure to diverse fields and pioneer clients.

The lecture commenced by emphasising the need for harmonised accounting standards in an interconnected global business environment. CA Piyush Dadhich, drawing on his extensive expertise, shed light on the significance of aligning GAAP, IFRS, and IndAS to enhance transparency and consistency in financial reporting.

The lecture spotlighted the advantages of convergence, emphasising streamlined complexity for multinational corporations, reduced compliance costs, and improved access to international capital markets. The expert further highlighted how convergence not only simplifies financial processes but also enhances the credibility of financial statements.

Acknowledging the challenges of implementation, the key speaker stressed the importance of a well-planned transition and effective collaboration among stakeholders. He outlined the need for comprehensive training and updated accounting systems for a smooth transition.

The final takeaway highlighted India’s pivotal role in global convergence. As India emerges as an economic powerhouse, the adoption of IndAS aligns the country with international accounting standards. CA Piyush Dadhich noted that India’s commitment to convergence enhances its attractiveness as an investment destination and streamlines financial reporting for multinational corporations.

Overall, the session encapsulated a rich learning experience for the students. The insightful presentation by the guest speaker provided a comprehensive understanding of the challenges and advantages associated with aligning GAAP, IFRS, and IndAS in a globalised context.