IFRS stands for The International Financial Reporting Standards. The International Accounting Standards Board (IASB) issues the International Financial Reporting Standards (IFRS) with the goal of providing a common accounting language to increase transparency in the presentation of financial information.
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IFRS stands for The International Financial Reporting Standards.
The International Accounting Standards Board (IASB) issues the International Financial Reporting Standards (IFRS) with the goal of providing a common accounting language to increase transparency in the presentation of financial information.
The International Financial Reporting Standards (IFRS) establishes the standards for how businesses should keep and report their financial records. The international financial reporting standards were created to establish a common accounting language with the goal of making financial statements coherent and consistent across industries and countries.
The IFRS course by the Association of Chartered Certified Accountants is one of the most appreciated and respectable qualifications in International Financial Reporting Standards across the globe. The diploma course by ACCA is designed to develop your knowledge and understanding of IFRS. This program helps you prepare for the diploma In IFRS (DipIFR) examination. While preparing you for DipIFR examination, also cover the differences with Ind-AS.
Who Should Take The IFRS Course?
Chartered Accountants, ICWA, Company Secretaries and other finance professionals.
Chief Accountants and Finance Managers.
MBAs majored in Finance and working in the accounting domain.
Semi-qualified CA, ICWA, CS working in the accounting domain.
Today, cross-border transactions are commonplace, with vast numbers of businesses seeking investment opportunities across the globe. In the past, this sort of internationalism was hampered by different countries maintaining different accounting standards, adding cost, complexity, and risk to business deals. IFRS eliminates that problem by ensuring that different countries adopt the same, globally applicable set of accounting standards.
By adopting IFRS, a company can present its financial statements on the same basis as its international competitors, allowing for easier comparisons. Furthermore, companies with subsidiaries in countries that require or permit the use of IFRS may be able to use a single accounting language across their entire organisation.
Companies may also be required to convert to IFRS if they are a subsidiary of a foreign company that is required to use IFRS or if they have a foreign investor who is required to use IFRS. If a company wants to raise capital from a foreign source, it may benefit from using IFRS.
Globalisation of trade & capital markets.
Rapid development of Information Technology and its impact on operations.
Fast & simplified process of moving funds between countries.
Increased investors interest in foreign investments.
Over the last few years, the demand for a Diploma in IFRS has skyrocketed in India. Companies such as PwC, Deloitte, KPMG, EY, Grant Thornton, BDO, and others hire candidates. With the introduction of Ind-AS and IFRS, there is an ever-increasing demand for candidates who can understand and apply IFRS in the Indian economy.
IFRS Exam Course details
Apply important parts of financial reports to appropriate financial reporting standards.
Prepare group financial statements, including subsidiaries, associates, and joint arrangements (except group cash flow statements).
IFRS Exam Eligibility criteria
The eligibility criterion for dipIFR certification:
To be eligible for the ACCA Diploma In IFRS, one of the following must be demonstrated:
The exam is open to chartered accountants and other accounting professionals (requires relevant documentation, such as a degree certificate, etc.).
At least ACCA qualification exemptions F1-F4 are available if you have two years of relevant accounting experience and a degree.
Two years of relevant accounting experience and an ACCA Certificate in International Financial Reporting.
ACCA affiliate status.
IFRS Exam Pattern & Passing Criteria
A single three-hour, 15-minute written exam will be used to assess the candidate.
To finish the paper, you'll need to get a score of 50% or higher.
The exam is divided into four sections, each of which contains four questions worth 25 points.
This IFRS course will take 6 months to finish.
IFRS Exam Registration & Procedure
After completing initial steps of registration, You will receive an electronic confirmation of receipt of your application form. On the ACCA website where you can track the progress of your application.
Fee Payment: Visa, Switch, Mastercard, and AMEX are currently accepted payment methods. Alternatively, you can send your supporting documentation with a crossed GBP cheque or bank draught drawn on a UK bank, or a crossed GBP British postal order.
NOTE: Debit/credit card authorization funds are not collected until all supporting documentation is received and reviewed by ACCA, and your application is accepted.
IFRS Exam Fees
The fee is £185. This allows one exam attempt.
IFRS Exam Schedule
The exam is held at ACCA's exam centres twice a year, in June and December.
IFRS Exam Centres in India
Compare IFRS vs CA vs MBA vs CIMA UK vs CPA Canada
IFRS Salary in India
IFRS professionals are typically hired by top global auditing firms and earn between INR 8 and 15 lakh per year, according to a LinkedIn salary report. Accounting consultants specialicing in IFRS can expect to earn between INR 15 and INR 19 lakh per year. With 6-8 years of experience, the salary can rise to 20 - 25 lakh per annum.
IFRS Job Roles & Responsibilities
Therefore some job roles of IFRS are mentioned below :
Chartered Financial Planner
Chartered Financial Analyst
IFRS Corporate Career & Big 4's
1. Onboarding process of the mentor ?Contact Us via LinkedIn to join the Mentors' Community at iProledge
2. Who’s a Mentor @ iProledge?Mentor is a Guide for students, who will help the students to excel in their career by sharing their knowledge and experience with them.
3. What are the responsibilities of a mentor?Attend Call With Students and provide them the right guidance. Calls will be scheduled by students and meeting link will be genrated ,according to Mentor's convinience and availablity
4. What are the authorities of a mentor?Mentor must be Competent, Maintain Integrity about Information provided, and keep the information shared by students Confidential. Mentor should guide the students in the right way and help them make decisions related to career. Mentor should not force students to follow a particular career path and the say of the mentor is not the final decision that a student must oblige