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International Financial Reporting Standards (IFRS)

  • The program is based on Diploma in IFRS from ACCA’s syllabus
  • Apply relevant financial reporting standards to key elements of financial reports
  • The course will abreast you with the latest International accounting practices.
  • IFRS certified professionals are highly in demand all over the world.
  • Senior Professionals with extensive training experience will be the trainers.
  • Pocket-friendly payment options are available.
Contact our Counsellor for more details

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Course Description

International Financial Reporting Standards (IFRS) is a set of accounting standards, developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.

India is one of the over 100 countries that have or are moving towards IFRS (International Financial Reporting standards) convergence with a view to bringing about uniformity in reporting systems globally, enabling businesses, finances and funds to access more opportunities.

ICAI has decided to implement IFRS in India. The Ministry of Corporate Affairs has also announced its commitment to convergence to IFRS.

Virtual Classes

What is a Virtual Class?

A Virtual Class is an online class that allows participants to communicate, view presentations and interact with trainers. Participants attend virtual class by connecting to the Internet rather than traveling to a physical classroom. Virtual class provides the benefit of flexibility and allows participants to attend classes that may not be offered in smaller cities. It is also beneficial for professionals who are extremely busy and cannot take out times to attend classes.

Virtual classes with International Academy

The Virtual Classes will be conducted over the weekends. The virtual class is right in your comfort zone, you can attend this classes from your home or office. This will also provide you an opportunity to interact with the trainers and get your queries solved. Each virtual class will be recorded, in case you have missed any class, you can request for the virtual class link over the mail.

Note: To attend the Virtual Classrooms, you need to have computer & internet connection with the minimum speed of 1 Mbps.

Demo

Registration Process

Interested candidates may download the application form by clicking the "Download Registration Form" button on the right and send the completed application to

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Table of Content

1.The nature and operations of the IASB

  • Structure of the IFRSF/IASB
  • Extant standards of the IASB
  • The framework.

2.The status and use of IFRSs around the world

  • The use of IFRS around the world
  • The IASB roadmap
  • The annual IASB bound volume and its use.

3.Presentation and profit

  • IAS 1, Presentation of financial statements
  • IFRS 15, Revenue from contracts with customers
  • IAS 8, Accounting policies, changes in accounting estimates and errors.

4.Accounting for assets and liabilities - part 1

  • IAS 16, Property, plant and equipment
  • IAS 38, Intangible assets
  • IAS 40, Investment Property
  • IAS 36, Impairment of assets
  • IAS 23, Borrowing costs
  • IAS 20, Accounting for government grants and disclosure of government assistance
  • IAS 2, Inventories
  • IFRS 16, Leases
  • IFRS 5, Non-current assets held for sale and discontinued operations

5.Accounting for assets and liabilities - part 2

  • IFRS 13, Fair Value Measurement
  • IFRS 32, Financial instruments - presentation
  • IFRS 9, Financial instruments
  • IFRS 7, Financial instruments: disclosures
  • IFRS 2, Share-based payment
  • IAS 37, Provisions, contingent liabilities and contingent assets
  • IAS 10, Events after the reporting period
  • IAS 19, Employee benefits
  • IAS 12, Income taxes
  • IAS 41, Agriculture
  • IFRS 6, Exploration for and evaluation of mineral resources.

6.Group accounting

  • IFRS 10, Consolidated Financial Statements
  • IAS 27 (revised 2011), Separate financial statements
  • IFRS 3, Business Combinations
  • IAS 28 (revised 2011), Investments in associates and joint ventures
  • IFRS 11, Joint arrangements
  • IFRS 12, Disclosure of interests in other entities
  • IAS 21, The effects of changes in foreign exchange rates
  • IAS 29, Financial reporting in hyperinflationary economies.

7.Disclosure standards

  • IAS 7, Statement of cash flows
  • IAS 24, Related party disclosures
  • IAS 33, Earnings per share
  • IAS 34, Interim financial reporting
  • IFRS 4, Insurance contracts
  • IFRS 1, First time adoption of IFRS
  • IFRS 8, Operating segments.

8.Principal differences between UK/US GAAP and IFRS

9.Proposals for change

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Key Deliverables

  • E-learning content
  • 24 hours of High Quality E-Learning content
  • 1.Study Text
  • 2.Practice & Revision Kit
  • Solved Sample Papers booklet
  • Mock test
  • Trainer support through e mails
  • Facility for taking online exam any time after completion of the training.
  • Certification for candidates scoring more than 50% marks in the exam.
  • About Hard Copy Study Material
  • Practice & Revision Kit: More than 300 pages book imported from United Kingdom, banks of practical questions and answers focused on each area of the syllabus, two full mock exams with answers and guidance, Platinum status ACCA books
  • Home study text: 550 pages book imported from United Kingdom, strategies for studying for your ACCA DipIFR exam, Chapter content with important concepts, examples: Application of knowledge and techniques, exam focus points and exam question bank, Platinum status ACCA books.

Course Packages

There are 3 different packages for IFRS Training to fit everyone's needs:

  1. Bronze Package
    • Online access to voice based learning content of 40 hours
    • 1 Imported book from ACCA, UK (Home study text)*
    • Solved Sample questions booklet for preparation
    • Support from subject matter experts on e-mail
    • Facility for taking online exam anytime after completion of the training
    • Certification for candidates scoring more than 50% marks in the exam

  2. Silver Package
    • Online access to voice based learning content of 40 hours
    • 2 Imported books from ACCA, UK:
      • Home study text*
      • Practice and Revision kit**
    • Solved Sample questions booklet for preparation
    • Support from subject matter experts on e-mail
    • Facility for taking online exam anytime after completion of the training
    • Certification for candidates scoring more than 50% marks in the exam

  3. Gold Package
    • Online access to voice based learning content of 40 hours
    • 10 LIVE VC Classes of 1Hr each on weekend with the Trainer. Recorded session provided if you miss the session.
    • 2 Imported books from ACCA, UK:
      • Home study text*
      • Practice and Revision kit**
    • Solved Sample questions booklet for preparation
    • Support from subject matter experts on e-mail
    • Facility for taking online exam anytime after completion of the training
    • Certification for candidates scoring more than 50% marks in the exam

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Course Eligibility

  • Graduation in commerce with 3 years work experience
  • Post graduates with 2 years work experience
  • For certified professionals like CA,ICWA,CS etc, no work experience is required.
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FAQs

Benefits of doing IFRS certification from International Academy are:

• Training for Dip IFR.

• Books and study material for Dip IFR.

• Our certification on successful completion of IFRS, internationally accepted.

IFRS is useful for accounts and finance professionals working on intended to work in an environment requiring accounting and reporting using IFRS.

IFRS is a set of accounting standards, developed by International Accounting Standards Board (IASB).

Platinum status books are the best books available in the world; we provide platinum status ACCA books which are being imported from UK.

The ministry of corporate affairs has made it mandatory in financial budget 2014, to do IFRS certification for all accounts and finance domain people.

Business affairs cannot be managed without qualified accountants who are called as Certified Public Accountants (CPA) in many countries. The American Institute for CPAs i.e. AICPA offers IFRS certification programs to prepare accountants for the globalized business world. The IFRS is a set of global standards which evolved under the aegis of International Accounting Standards Board (IASB). They have been designed to promote a global grammar for writing and maintaining company accounts that can be understood anywhere in the world.

IFRS Certification can be pursued by interested aspirants for the following reasons -

  • Globalization has created multi-national corporations which employ global rules and IFRS to maintain their books of accounts.
  • High-quality of accounting standards are inevitable when large sums of money are exchanged, and this requires professionals with necessary expertise, knowledge, and skills.
  • Small and Medium-sized businesses also utilize IFRS and the career opportunities are up for grabs for those with the requisite qualifications.
  • Financial information and statements have to be consistent, comprehensive, relevant, and verifiable. Trained and certified professionals are more reliable and they also receive higher salaries.

The United States based Generally Accepted Accounting Principles (GAAP) differs from IFRS in a fundamental manner. IFRS is based on principles while GAAP is rule-based. In GAAP, written down inventories cannot be reversed while in IFRS reversal under specific criteria is allowed. GAAP research is based primarily on literature while IFRS relies more on a thorough review of pattern-based facts. IFRS and GAAP also differ in their treatment of intangible assets and inventory costs.

The focus of certification course in IFRS is on the following fundamental concepts -

  • Provision of an integrated and comprehensive curriculum for enhancing proficiency.
  • Assist the aspirants to thoroughly understand the IFRS framework with an emphasis on communication and explanation.
  • Comprehensive understanding of the accounting standards along with their practical application in a global scenario.
  • Principles of key standards in financial reporting and their correct applications.

The IFRS certification course is available for qualified accounting professionals with or without active practice. Professional accounts with CA and CPA can enroll and complete the curriculum for their certificates. Other accountancy practitioners can also enroll provided they have undergraduate accountancy degrees and relevant work experience at a fundamental level. Those with CA and CPA qualifications, but are presently inactive can also apply for this course.

The applicants who successfully enroll for the course will have to complete the program within a period of 1 year or 12 months. The duration depends on the capabilities of the aspirant and the time he or she is willing to invest in completing the course work. The course can be completed if the candidates are enthusiastic and willing to commit between 40 to 60 hours approximately.

The objectives of the course include the following important and essential concepts -

  • The background information and conceptual framework of IFRS.
  • International Accounting Standards with the focus on balance sheets and income statements.
  • Specific, Separate, and Consolidated Financial Statements along with Equity Accounting.
  • Basic and advanced modules on financial instruments as per IFRS.
  • IFRS Revenue concepts and exposure to future developments.

The IFRS has global implications and many countries have responded positively for implementation of IFRS in financial statements. The European Union, India, Chile, Brazil, Australia, GCC countries, etc., have either adopted or they are transitioning into IFRS. USA does not use IFRS but relies on its own GAAP while the Russian GAAP has started converging to IFRS.

 

  • Certificate and diploma courses are available online or offline.
  • Interested and eligible candidates from accountancy background have to apply.
  • The applicants have to pay the fees for course material and assessments.
  • The course work has to be completed as per the prescribed curriculum.
  • Successful candidates will be awarded certificates and diplomas after final evaluation.
  • There is no active period or expiry date for the IFRS certification.

The following benefits are accrued by the businesses with IFRS certification-

Multi-National Corporation :

  • Single accounting language is a boon for MNCs which have many companies spread around the globe.
  • Professional accounting services and human resources of the MNC can be replicated or replaced as per requirements.
  • Robust global standards for accounting improve standing of the business in terms of reliability, transparency, and shareholder goodwill.
  • Long-term benefits far outweigh the short term costs that the company may have to bear initially.

    Small and Medium Sized Business Enterprises:

      • IFRS certified professionals generate high quality financial statements and cut down on the accounting errors which lead to losses.
      • Inventories, investments, taxation, and leases can be handled in a more comprehensive manner.
      • Profitable businesses seeking to expand, scale up their operations, or diversify into global markets can do so with greater ease.
      • The SMEs benefit largely from the competent and expert services offered by IFRS accounting professionals particularly in matters pertaining to foreign exchange and foreign currency translation.

 

Enrolment Options

You can enroll for our courses by paying through the following options:

  • You can pay online using - credit card / debit card / net banking
  • You can deposit cash in HDFC or ICICI branch. Please remember to email us a copy of the deposit slip.
  • You can drop a cheque in either HDFC or ICICI (ATM / bank branch).
  • You can courier the cheque to our office and we will take care of the rest.
  • Payment can be made for the appropriate amount depending on which option you decide to take.

* Pricing of some of the programs may vary. Please contact us for more details

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Course Duration
3 Month
Course Rating

No. of Professionals who have already been certified on till today

2900

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