International Financial Reporting Standards (IFRSs) are used around the world, giving organizations and individuals a common language. The more widely they are used, the more important it becomes to understand the framework and to be familiar with its key features.
Overview
The use of IFRSs can affect a company’s policies, processes, and systems, so it is critical that all involved have an appreciation of the content of the standards; those seeking to use companies’ financial information need to understand it too.
What is the need for IFRS
IFRS has been adopted by more than 120+ countries across the globe. India has revised the law to enforce IFRS implementation. Accountants migrating to Canada, Australia, New Zealand, and Europe will have competitive edge through their advanced knowledge of IFRS.
Advantages of Certification in IFRS
- 30 CPE Hours for CMAs
- Showcase your knowledge in IFRS
- Advance your overall professional accounting knowledge
- Gain competitive advantage for a career in multinational companies
- Exploit more job opportunities
- Facilitate the migration process to Canada, Australia, Europe and other countries
Course Content
- The IASB work plan and the conceptual framework for financial reporting and IFRS 13, Fair Value Measurement)
- IAS 1, Presentation of Financial Statements and IAS 10, Events After the Reporting Period
- IFRS®: IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors; IFRS 5, Discontinued Operations and Non-current Assets Held for Sale; and IAS 37, Provisions, Contingent Liabilities and Contingent Assets
- IFRS®: IAS 2, Inventories; IAS 16, Plant, Property and Equipment; and IAS 23, Borrowing Costs
- IFRS®: Investment Property (IAS 40)
- IFRS®: IAS 38, Intangible Assets and IAS 36, Impairments
- IAS 20, Accounting for Government Grants and Disclosure of Government Assistance
- IFRS 16, Leases
- IFRS®: Financial Instruments (IAS 32, IFRS 9, IFRS 7)
- IFRS®: IAS 12, Income Taxes
- IFRS®: IAS 19, Employee Benefits and IFRS 2, Share-based Payment
- IFRS 15, Revenue from Contracts with Customers
- IAS 24, Related Party Disclosures, and IAS 21, The Effects of Changes in Foreign Exchange Rates
- IFRS®: Earnings Per Share (IAS 33), Statement of Cash Flows (IAS 7), and Interim Reporting (IAS 34)
- IFRS®: Consolidated Financial Statements (IFRS 10) and Separate Financial Statements (IAS 27)
- IFRS®: IFRS 3, Business Combinations; IAS 28, Investments in Associates and Joint Ventures; and IFRS 11, Joint Arrangements
- First-Time Adoption of International Financial Reporting Standards® (IFRS 1)
- IFRS 17, Insurance Contracts
The IFRS certificate is a professional certification that demonstrates an individual's proficiency in understanding and applying the International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB).
The IFRS certificate is important because it signifies that an individual has the knowledge and skills necessary to navigate the complexities of international accounting standards. It enhances credibility and career prospects for professionals working in multinational companies, global financial markets, and international accounting firms.
Professionals working in accounting, finance, auditing, or related fields are eligible to pursue the IFRS certificate. There are no specific educational requirements, but candidates typically have a background in accounting or finance.
To obtain the IFRS certificate, you typically need to complete an IFRS certification program offered by authorized training providers. These programs cover the fundamentals of IFRS and prepare candidates for the certification exam.
Yes, the IFRS certificate is recognized internationally and is highly valued by employers in countries that adopt IFRS as their accounting standards. It demonstrates proficiency in a globally accepted set of accounting principles.
The IFRS certificate enhances career prospects by opening up opportunities for employment in multinational companies, global accounting firms, and international organizations. It also demonstrates commitment to professional development and enhances credibility in the field of international accounting.
