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Accountancy is one of the pioneers in the world of trade that many students have selected. Some study abroad immediately after the 12th grade and others take accounting classes, such as the Financial Accounting Certificate, or an MBA. In addition to these full-time scholarships, there are also a variety of short-term degree courses by recognized institutions such as IFRS.
IFRS has been adopted in 130+ countries, including the UK, European Union, Canada, Australia, Nigeria, Saudi Arabia, and in 15 of the G20 countries.
Similar to the IT standards, accounting standards or norms have also been accepted by most of the companies. This is the reason IFRS is blowing horns everywhere.
Focus areas of IFRS
- 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
Scope of IFRS
According to current accounting principles, inter-economic trades should be handled easily. IFRS promises economic transparency, integrity, and performance. The demand for these practitioners has risen as the businesses seek to put their accounting system in line with global norms, thereby creating huge opportunities. In 120 countries across the globe, the understanding of the quality has accounting boundaries, the implementation of requirements has continuous amendments, and the regulators have specifically recognized the need for IFRS accredited practitioners. Trained specialists in India are required to uphold a global list of IFRS standards.
Eligibility of IFRS
The IFRS Foundation offers a number of certifications, and an appropriate program should be selected according to its preference. Few important items to review before you apply for these courses are as follows:
- An auditor or editor is eligible for this credential of operation in compliance with national accounting principles.
- University or University degree
- Minimum 3 years background in accounting
Key features of IFRS certifications
When the certification is completed, the holder should be able to:
- Understand and clarify the international financial reporting regulatory system
- Subject to international accounting principles to pass and apply theoretical expertise
- If the International Financial Reporting Interpretation Committee will file financial statements
- Should financial groups such as branches and joint venture companies
- Know the global accounting functions
Career opportunities after IFRS certification
- Audit Firms
- Professional Advisory Companies
- Banking Companies
- Insurance Companies
- Any other company adopting IFR standards
Top 11 IFRS Certification Course in Mysore
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Henry Harvin
The objective of the IFRS certification course in Henry Harvin is to take participants through all the topics covered in the syllabus and help them prepare for the Diploma in IFRS examination conducted by the ACCA. We have realized the criticality for finance professionals to understand the concepts of accounting and related application issues. That’s why we cover all the important concepts of IFRS and a list of IFRS standards into consideration and help students to understand them too.
Training USPs
- Understanding and describing IFRS structure
- Apply the corresponding financial reporting requirements to core financial report elements
- In financial records and notes, define and submit compliance criteria for businesses
- Establish group financial accounts, including branches, alliances, and joint ventures (excluding group cash-flow statements).
- Get the certificate and share it with your professional network.
Cities in India Where Henry Harvin Course in Provided:
Bangalore, Chennai, Gurgaon, Kolkata, Mumbai, Jaipur, Hyderabad, Lucknow, Chennai, Gurgaon, Kolkata, Pune
Other Henry Harvin Courses:
ACCA Course, Financial Analytics Course, Financial Modeling Course, RPA Certification Course
Henry Harvin® IFRS Course Ranks #1 in India by The Tribune
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PWC
PwC’s Academy provides PwC India learning and training programmes. It delivers numerous educational sessions focused on best practises and real-life business insights in the classroom of PwC’s multinational corporate network. In addition, topic specialists help boost the efficiency of learning.
Training USPs
- The modules address real-life situations and illustrate how the standards are implemented.
- Illustrations that highlight elements of the criteria in motion include the employed modules.
- You can earn a printable certificate after you complete the test at the end of each module.
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Zell Education
Zell education was a brainchild of chartered accounts that ideated a striking disparity between the skill sets of professionals and existing academic skills. They help learners to upgrade their skills frequently that are essential for professional growth. The training specifically focuses on finance and accounts.
Training USPs
Diploma in IFRS in the total duration of 3 months.
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IFRS – Coursera
Coursera has a fascinating blend of IFRS courses. Accounting, businesses and companies: The Hong Kong University of Science and Technology’s multi-faceted accounting role offers an overview of the multi-faceted role of accounting. Maintaining the Change: University of London’s questions for the financial professionals describe and discuss problems for the financial professionals emerging from the continually evolving market climate. Introduction to Financial Accounting at the University of Pennsylvania, you can learn to read, understand and interpret much of the material in corporations’ financial statements. University of Illinois’ accounting research with Python focuses on improving Python’s market data assembly capability.
Training USPs
- Coursera is the most popular and trusted online training platform.
- Learn on the highly-rated platform. 3.5 out of 5 ratings.
- Get the certificate and share with your professional network.
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AICPA Store IFRS Certification Program
This course will provide guidance about how IFRS core ideas and principles can be interpreted and adapted to accounting practices. It defines the terms and values of the IFRS; provides guidelines on the designation and implementation of the current criteria for recognition of profits and leases; provides guidance in defining classifications, recognition, evaluations, and divulgation of assets and liabilities in financial statements.
Training USPs
- Share your badge on your professional network.
- Earn CPE credits with this course.
- Get self-help study material like audio/video lectures, hands-on exercises, and case studies.
- The American Institute of Certified Public Accountants
This platform offers you learning about international financial reporting requirements that you have to excel in today’s world of business. It provides you with the requisite preparation, information and advice to use IFRS.
Training USPs
- Get the certificate and share with your professional network.
- The module consists of 25 online and self-training courses.
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Educba
Educba provides a bundle of 17 IFRS certification courses with more than 40 hours of content to take reference from. A learner is required to have an accounting background to pursue Educba IFRS certification courses.
Training USPs
- Certificate and badge to get yourself recognizable.
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ICAI
The Institute of Chartered Accountants of India also provides IFRS certification courses in India. ICAI offers a certificate course on Indian Accounting Standards (Ind AS).
Training USPs
- Brand name
- Valid nationally (India) because ICAI is one of the top accounts institutes in the USA.
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Deloitte IFRS e-learning
In order to assist users in the implementation of the fundamental principles and concepts of IFRS and IASs, Deloitte has developed quality e-learning modules on IFRS. The IFRS e-learning modules are free to download, distributed and freely distributed subject to Deloitte copyright on content without alterations in the original form.
Training USPs
- Real-world examples to illustrate how standards are applied
- Parts to explain the theory and concepts
- Examples have been developed to demonstrate facets of the criteria
- Materials for learning assistance
- A printable certificate if at the end of each module you pass the test
What you’ll learn?
- First-time Adoption of International Financial Reporting Standards
- Share-based Payment
- Business Combinations
- Insurance Contracts
- Non-current Assets Held for Sale and Discontinued Operations
- Exploration for and Evaluation of Mineral Resources
- Financial Instruments: Disclosures
- Operating Segments
- Financial Instruments
- Consolidated Financial Statements
- Joint Arrangements
- Disclosure of Interests in Other Entities
- Fair Value Measurement
- Regulatory Deferral Accounts
- Revenue from Contracts with Customers
- Leases
- Consolidated Financial Statements (Before & Post IFRS)
How much will you earn?
The average salary for an Account Manager is $59,945 per year in the United States. In India, the employees with IFRS certification earn an average salary of ₹20lakhs, mostly ranging from ₹20lakhs to ₹20lakhs.
What should you keep in mind?
You can take care of precisely four different dimensions of IFRS –
- Financial Status Statement: You must obey IFRS to show the balance sheets using certain protocols.
- Comprehensive Interest Expense: This may be achieved using a statement or separated into the benefit and loss statement and other different declarations for property or facilities.
- Statement on Equity Changes: The return on income is one of the company’s most critical records, and in the accounting year, you must disclose a difference of benefit.
- Cash Flow Statement: You know that there are three main cash flow statements, including running, spending and borrowing, if you’ve ever made cash flow. Under IFRS, the organizations should summarize a report with the full cash flow-to-operate, spending and funding transactions for a term.
Who can do IFRS Certification?
- Finance and Company Students: studying IFRS makes no sense unless you have banking or accounting career. Wherever you are in your career, whether you are in accounting or banking, this course has been built for you, and you will make the most of it.
- Accountant/accounting specialist: IFRS studying is a great professional improvement if you are accountants or have a background in accounting and finance. IFRSs are their selected accounting practices in most countries.
- Enterprises/Advisors/Management Managers/Business Professionals: This course will benefit you tremendously whether you are an aspired entrepreneur or are already one. At the start of your tour, this training is beneficial to set up the accounting department in compliance with IFRS and to not think about it again.
In short, Accountants | Auditors | Finance professionals | Chartered Financial Analysts (CFA) | Company Secretaries | Certified Financial Planners (CFP) | Mutual fund and finance consultants | Financial Controllers | CFOs | Bank Managers | Portfolio Managers | MBA Finance graduates | Students who want to start a career in finance.
Learners who are taking IFRS course training can go for other popular accounting courses like Cost Accounting, GAAP, GST, CFA, and Business Accounting.
Benefits of IFRS Certification
- Bring huge value to experts in accounts and finance: If you are someone who oversees the company’s whole accounting department, this experience will give you immense value. This preparation will also be of much use to students of accounts who wish to go into a similar area.
- Checkable credentials: if your supervisors wish to review, you can earn certificates for your preparation. But be confident that your experience will speak for itself, so you do not have to prove that.
- Get a fantastic picture: you’ll get it from this course if you’re new to accounting, so you are keen to take stock of the whole accountability process. This course is focused on IFRS, and you are going to learn a lot about other facets of the business.
Hidden growth of IFRS professionals
Thanks to the following causes, IFRS accredited practitioners have a major boost in their work:
- Certified IFRS practitioners are very common in India and abroad.
- IFRS Specialists in Accredited Finance have a lead on other professionals with a comprehensive experience and skills in international accounting practises.
- You are fit to operate in 100+ countries through IFRS Qualification.
- Since the IFRS recommendations are revised periodically, there will still be a need for IFRS experts.
- Finance is a large field in which changes take place rapidly. Therefore, IFRS Accredited practitioners are continuously updated on the most recent changes.
Bidding Words
IFRS allows corporate accounts to be understood, compatible, and equivalent. If an organization works with many nations, certain requirements must be met. To ensure the accounting records of business deals, accountants must comply with these standards.
It is used by organizations to operate in a smoother and more understandable way, which can be communicated across international borders. This has been accomplished by rising foreign shareholding and trade.
It is advised to take an IFRS course or engage in an IFRS coaching institute to obtain the realistic clarification of IFRS. Learning from seasoned professorships allows you to better understand and prepare your subject.
Companies like Accenture KPMG, EY, JP Morgan, Genpact are looking for IFRS professionals to hire. Are you among those?
Check for- Accounting and Taxation Certification Course
What is IFRS?International Financial Reporting Standards (IFRS) are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board.
What is the use of IFRS?IFRS is intended to add clarity to the terminology, procedures and statements of accounting and to support organizations and investors in making informed financial assessments and decisions. The IFRS Foundation sets the principles to provide financial markets around the world with clarity, integrity and performance.
What is the importance of IFRS?IFRS Standards are of crucial significance to regulators around the world as a source of globally comparable knowledge. IFRS criteria adds economic performance by helping investors recognize worldwide prospects and risks, thus maximizing the distribution of resources.
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