SCHOOL OF FINANCE AND COMMERCE
2nd Guest Speaker Session 19th November 2019
Topic: Topic: International Financial Reporting Standards (IFRS)
Guest Speaker: Mr. Chiranjeet Singh, Senior Consultant, EY
International Financial Reporting Standards, usually called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. Considering the importance and relevance of IFRS to the students School of Finance and Commerce, Galgotias University organized the 2nd Guest speaker session on the same in C &ndash Block Auditorium at the GU campus.
The School invited Mr. Charanjeet Singh -Senior Consultant at EY as guest speaker for the session. Mr. Charanjeet Singh has obtained his higher degrees from London School of Business and Finance. He has an advanced diploma in accounting and business as well as in accounting and finance. He has participated in global statutory reporting and GAAP conversation at various forums. Beside these he has been part of conversion and Technical assistance on US GAAP.
The dignitaries present at the session were Dr Pradeep Singh, Vice Chancellor, Galgotias University and -Dr Salim Shamsher, Dean SFC. Participants of this session was MBA(FM) I semester, BBA(FIA) I and III semester, B,COM-International Accounting and Finance I and III semester, B.Com V semester and M.Com I and III semester.
The day began with the welcoming the guest with a bouquet presented by the Dr Pradeep, VC, GU. During his session the guest speaker discussed about the Importance of IFRS which strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money. As a source of globally comparable information, IFRS Standards are also of vital importance to regulators around the world. He also discussed why IFRS is better than GAAP as at the conceptual level, IFRS is considered more of a principles-based accounting standard in contrast to GAAP, which is considered more rules-based. By being more principles-based, IFRS, arguably, represents and captures the economics of a transaction better than GAAP. He appreciated School of finance and Commerce for introducing such speaker sessions and told students to take advantage of it. Several questions were put by the students to the speaker.
At the end Dr. Arvind Sinha, Associate Professor, SFC proposed vote of thanks on behalf SFC to the speaker, dignitaries, students and faculty members for cooperation extended in making it a successful event. The event would not have been successful without the sincere effort put in by the Co-curricular team volunteers in organizing the event.