Case Name :      Essar Energy: Indian GAAP, U.S. GAAP or IFRS? (A)

Authors :           David J. Sharp, Sudershan Kuntluru, Paritosh Basu, Sanjay Chauhan

Source :             Ivey Publishing

Case ID :            W13226

Discipline :        Accounting

Case Length :    15 pages

Solution Sample availability : YES

Plagiarism : NO (100% Original work)

Essar Group (Essar), a large diversified conglomerate based in India, needs to raise significant capital through an initial public offering (IPO) and has to decide whether to do so through the Indian Stock Exchange, the London Stock Exchange or the New York Stock Exchange. The company will have to continue to report in Indian GAAP and, if it decides to list its IPO in the United States or Europe, it also will have to adopt either U.S. GAAP or IFRS. The chief financial officer of Essar has to recommend to management where to raise the needed capital and what accounting standard to adopt.