IFRS Courses

Accountancy is one of the leading careers in Commerce, opted for by many students. Some directly study abroad after 12th Commerce, while others go for accounting courses like Diploma in Financial Accounting or an MBA. Apart from these regular full-time degree programmes, there are a few short-term certificate courses offered by recognized institutions like IFRS. Through this blog, let us explore different IFRS courses. 

Parameters	Details
Full Form	International Financial Reporting Standards
Eligibility Criteria	A bachelor’s degree in a relevant subject and at least two years of professional accounting experience is required.
Top IFRS Courses	Diploma in IFRS, IFRS Certificate Course, etc.
Who can study the IFRS course?	Cost Accountant, Company Secretary, Financial Planner, etc.
IFRS Course Fees	INR 10,000 to INR 80,000
IFRS Course Duration	6 months
Top Platforms Offering IFRS Course	ICAI, AICPA, Manipal ProLearn, Global FTI, ACCA, etc.
Top Job Profiles	Chartered Financial Planner, Chartered Financial Analyst, Cost Accountant, etc.
Average Initial Salary	INR 4,00,000 to INR 8,00,000 per annum in India

What is IFRS?

International Financial Reporting Standards or IFRS are financial statements that are transparent and same around the world derived from the assertions of the London-based International Accounting Standards Board or IASB. Companies all over the world receive assistance from the IFRS because investors are more likely to put money into a company if their business practices are transparent. IT is an essential acquisition to have in more than 120 countries worldwide. It is considered by business reports and their financial results everywhere except the USA, where Generally Accepted Accounting Principles, or GAAP, is a framework that is used. This accounting standard basically originated in the European Union focusing on the purpose of making businesses and accounts conveniently accessible in the region. The idea immediately spread globally, being used as a common language, allowing larger communication worldwide. Most countries have come forward and accepted these norms of accounting!

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Why Pursue IFRS Certificate Courses?

The IFRS Certificate Program will equip you with the international financial accounting and reporting skills necessary to compete effectively in today’s global business environment. A thorough understanding of IFRS will set you apart from other accounting and finance professionals and expand your career opportunities both in the US and globally.

Skills Required

Accounting Skills	Regulatory Compliances	Auditing Skills
Microsoft Office	Financial Advising Skills	Investment Planning
Financial Analysis	Investment Management	Insurance
Portfolio Management	Market Research	Corporate Governance
Legal Compliance	Regulatory Compliance	Legal Document Review
Financial Reporting	Account Management	Tax Compliance
Cost Accounting	Financial Modeling	–

IFRS Focus Areas

• Business combinations
• Presentation of financial statements
• Revenue recognition
• Employee benefits
• Borrowing costs
• Foreign exchange rates
• Income taxes
• Investment in associates
• Inventories
• Fixed assets
• Intangible assets
• Leases
• Retirement benefit plans
• Operating segments
• Subsequent events

Eligibility Criteria

IFRS Foundation offers a wide range of certifications and one can choose a well-fit programme per their choice. Here are some basic things you must check before signing up for these courses:

• Any professional auditor or editor in practice is eligible to take this certificate according to national accounting standards.
• A degree from a college or university
• Three years minimum of accounting experience

Scope of IFRS

According to accounting standards that exist intend to process inter-economic transactions conveniently. IFRS ensures transparency to the market, it is accountable and efficient. As the firms are trying to move their accounting system following global standards, the demand for these professionals has increased, therefore bringing immense opportunities. The knowledge of its standard across the world in 120 countries has accounting limitations, the application of the standards has continuous amendments and these guidelines by the regulators have created the requirement for IFRS-certified professionals explicit understanding of the guidelines. The implementation of these standards has high earning potential. There exists a need to have trained specialists in India to maintain the global standards of IFRS.

IFRS Certifications: Key Features

Upon completion of the certification, the holder should be able to:

• Comprehend and explicate the international regulating framework of financial reporting
• Should be able to confer and apply the theoretical knowledge to the International Accounting Standards
• Should be able to prepare financial statements under International Financial Reporting Interpretations Committee
• Should group financial statements like subsidiaries and associate the joint ventures
• Know the global accounting functions

Top Platforms Offering Online Certificate Courses

Platform Name	Mode	Course Fee
ACCA	Online (Available in 113 countries)	INR 10,421
Manipal ProLearn	Online	INR 25,700
Proschool	Online	INR 25,000
AICPA	Online	INR 79,573
Global FTI	Online	INR 17,492
CGMA Store	Online	INR 30,826

Top Colleges Offering UG

Institute Name
Narsee Monjee College of Commerce & Economics, Mumbai
LPU Jalandhar
Jain University, Bangalore
Christ University, Bangalore
Pandit Deendayal Petroleum University, Gandhinagar
Stella Maris College, Chennai
Ethiraj College for Women, Chennai
Chandigarh University
NIMS University, Jaipur
St. Andrew’s College of Arts Science & Commerce, Mumbai

Master in IFRS Courses 

• IFRS Courses do not provide Master courses.
• Candidates can pursue the IFRS Courses by taking master courses in finance and accounting.
• Master courses are typically two years in length and can be pursued after completing a B.Com or BBA in Finance and Accounting.
• The typical IFRS Course price is between INR 8,000 and INR 8,00,000 per year.

Top Colleges Offering PG

Institute Name
IIM Ahmedabad
IIM Calcutta
IIT Kharagpur
IIM Kozhikode
IIM Indore
IIT Delhi
IIT Bombay
IIT Roorkee

List of IFRS Courses

• Diploma in IFRS by ACCA- KPMG India
• Diploma in IFRS by ACCA- EY
• ACCA Diploma in IFRS – PWC’s academy
• Grant Thornton
• Saraf Academy
• IMS preschool
• Globalfti
• Hi-Educare
• Udemy – online courses
• Takshila learning

Popular Books

• International financial reporting 7th edition
• IFRS Guidebook: 2017 Edition by Steven M. Bragg
• The Vest Pocket Guide to IFRS
• Wiley not-for-profit GAAP 2019

Lists of IFRS

There are 16 IFRS standards that consist of a set of rules. Here is a list of the same:

• Module 1- First-time Adoption of International Financial Reporting Standards
• Module 2- Share-based Payment
• Module 3- Business Combinations
• Module 4- Insurance Contracts
• Module 5- Non-current Assets Held for Sale and Discontinued Operations
• Module 6- Exploration for and Evaluation of Mineral Resources
• Module 7- Financial Instruments: Disclosures
• Module 8- OperatingSegments
• Module 9-Financial Instruments
• Module 10- Consolidated Financial Statements
• Module 11- Joint Arrangements
• Module 12- Disclosure of Interests in Other Entities
• Module 13-Fair Value Measurement
• Module 14-Regulatory Deferral Accounts
• Module 15
• Module 16

FAQs

We hope our blog provided all the relevant information about IFRS, to know more about these courses, visit Leverage Edu and book your online counselling session with our exclusive E-meeting session!