ABOUT ACCA DIPLOMA INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS COURSE ONLINE CLASSES)
The ACCA Diploma IFRS has been developed by The Association of Chartered Certified Accountants (ACCA) global. Diploma in International Financial Reporting (Diploma IFR) is for finance professionals who need to acquire more a detailed understanding of IFRS.
International Financial Reporting Standards (IFRS) are accounting standards and principles set by the International Accounting Standard Board (IASB) and are becoming global standards for preparation of financial statements. Most countries are converging their standards towards IFRS or adopting IFRS as they are, to enable uniform reporting.
India decided to adopt IFRS, under Ind-AS. It started a voluntary adoption of IFRS from 1st April 2015 while the first phase of adoption started on 1st April 2016.The application of Ind AS is based on the listing status and net worth of a company. Ind AS will first apply to companies with a net worth equal to or exceeding 500 crore INR in the first phase. Listed companies as well as others having a net worth equal to or exceeding 250 crore INR will follow this implementation as Phase II starting 1 April 2017 onward. Ind AS will also apply to subsidiaries, joint ventures, associates as well as holding companies of the entities covered by the road-map.
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BENEFITS OF STUDYING DIPLOMA IN IFRS
Various IFRS profiles are being offered in several sectors of the industry that include ITES, software, pharmaceutical, auto spare part, professional advisory companies, auditing firms, banking industry, the Insurance industry, KPOs, etc.
- Skilled and experienced IFRS experts can establish their own consultancies to help companies migrate to IFRS
- Practical knowledge of these universal standards will open doors across the globe as more than 150 countries have given the green signal in their accounting boundaries and it is expected that this number will touch 200 by end of 2017.
- Application of these standards is complex and time-consuming which underlines the significance of IFRS professionals
- Continuous amendments in these standards by regulators is creating a need for IFRS professionals with a thorough understanding of these standards
- IFRS implementation for Indian accounting professionals will be what Y2K was for the software professionals, in other words, huge earning potential
- Hence, there is a huge need to train professionals about IFRS in India in order to get prepared for IFRS convergence
OBJECTIVES OF THE IFRS COURSE
On completion of the Diploma candidates should be able to:
- Understand and explain the international regulatory framework of financial reporting
- Discuss and apply specified International Accounting Standards (IAS) and IFRSs to practical situations
- Prepare financial statements in accordance with specified IASs, IFRSs & International Financial Reporting Interpretations Committee (IFRIC) pronouncements
- Prepare group financial statements including subsidiaries, associates and joint ventures
ABOUT FACULTY OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
CA Rammohan Bhave (CA, CMA, CS, LLB) is a LIMCA record Holder 2011 on IFRS-77 cities 1139 participants thru Reliance.he has 30 years Industry experience: Worked as CFO/ Chief Finance Director for last 13 years. Company experience includes Reliance Infocomm, Mittal group, Europe, Foundation software, USA, Singapore, Australia, Gammon India. International Work Experience: worked in USA, Singapore, and Australia (2000 – 02), London, Bulgaria (2007-08). visited and worked in Japan, Croatia, Oman, Dubai, Netherlands, Thailand. He is Ind AS implementation committee member (ICAI) 16-17 (In past 2010-11). He also Affiliated to IICA (Institute of Corporate Affairs – a knowledge sharing body started by MCA). He is an Independent director on LIC MF Trustee Co Ltd. He also gets Flagbearer of the profession award from ICSI 2015.
CAREER OPPORTUNITIES IN INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS COURSE)
After completing your Diploma you can easily get a job in one of the following industries or you can start your own advisory and consultancy company:
- Audit Firms
- Professional Advisory Companies
- Banking Companies
- Insurance Companies
- Any other company adopting IFR standards
- Seeking a break in a large global organization
- Seeking opportunities globally in places like EU, Middle East etc.
- Seeking to enhance your qualification and gain knowledge of IFRS
WHO CAN JOIN IFRS TRAINING?
- CA or any other professionally certified accountant from any Indian or Foreign Institute
- B.com or Certificate in IFRS by ACCA with at least 2 years of relevant work experience in the F&A department
- Other graduates with at least 3 years of relevant work experience in the F&A department