How IFRS course is beneficial after CA?
If you have completed your Chartered Accountant certification, you might be already wondering what to do after CA. If this is very recent news, a hearty congratulations! You need to enjoy your success. Also, it is a really good time to start considering your next ventures. The best thing you can do now is probably the IFRS course. The IFRS course is a diploma certification that is offered by the Association of Chartered Certified Accountants. The diploma course has been designed to create an understanding of the IFRS and improve your knowledge.
The program will not only help you prepare for the examination but understand the differences with Ind-AS.
What is the objective of the IFRS course?
The IFRS course is meant to offer a broad introduction to the world of financial reporting. It helps you to understand how these practices are done globally. The diploma is designed to help the candidates grasp the structure of international accounting and its framework. It allows the identification and application of disclosure requirements for the companies in financial notes and reports. It allows for applying financial reporting standards to the key elements of financial reports. It helps to prepare group financial statements, including subsidiaries, associates and joint agreements.
Who can take up the IFRS course?
The IFRS course details have been designed to allow different professionals and students to complete this course. This includes Chartered Accountants along with Company Secretaries, ICWA and other finance professionals. Finance Managers and Chief Accountants can also be present. Even those who have majored in Finance in MBAs and are working in the accounting domain can work in this field. The course is also good for semi-qualified professionals in the accounting domain.
Who would be eligible for this diploma in IFRS certification?
The IFRS course duration depends on the candidate as it entails only one exam. The exam would be applicable to auditors and professional accountants who work according to the national accounting standards. If you are not qualified but still working in such a position, you would be able to apply for the certification. Professionals with two years of relevant accounting experience can apply for the certificate. If they have more experience or an ACCA certificate, it is all the better.
What else should you know about the course?
The Diploma in IFRS is a single exam that lasts about 3 hours and a quarter. If you achieve 50% marks or above in this exam, you would be completing the paper. This exam is held twice in a year – once in June and once in December. These are held in the exam centres of ACCA. The exam has two parts – Section A consists of one ‘groups’ question and section B is made of three scenarios question. The first part carries 40 marks while the second carries 60.
This course has been known to be very helpful in earning opportunities in some of the big audit firms. This course will help you get preference over others. If you are doing IFRS after CA, it would be like a feather in your cap.
