IFRS

What is IFRS?

IFRS is a globally recognized course offered by ACCA which offers great knowledge in the field of finance. It is one of the most appreciated and respectable qualifications in International Financial Reporting Standards across the globe. Objectives of this course is To understand the structure of the framework of international accounting, Identifying and applying disclosure requirements for companies in financial reports and financial notes, Applying relevant financial reporting standards to key elements of financial reports, and Preparing group financial statements (excluding group cash-flow statements), including subsidiaries, associates and Joint Arrangements. IFRS Certification is good, as the professionals can update their skills and also get to work in bigger companies. ACCA provides two certificates in the IFRS, first one is Cert IFRS, which fresher can also write, and second Dip IFRS 

Eligibility for the course-:

It is meant for professionals working in the field of auditing and finance. At least an experience of 2 years is required to opt for the course. People who preferably should take this course are Chartered Accountants, ICWA, Company Secretaries and other finance professionals, Chief Accountants and Finance Managers, MBAs majored in Finance and working in the accounting domain, Semi-qualified CA, ICWA, CS working in the accounting domain.

What is the eligibility criterion for dip IFRS certification?

If you are an auditor or a professional accountant who works in business or practice and are qualified according to national accounting standards, you are eligible to take the ACCA financial reporting qualification. And if you are working in practice but not qualified yet, you may still be eligible for DipIFR, one of the following needs to be proved to be eligible for Diploma In IFRS By ACCA

-Two years of relevant accounting experience and a degree, attracting at least ACCA qualification exemptions F1-F4.

-Two years of relevant accounting experience and an ACCA Certificate in International Financial Reporting

-Three years of relevant accounting experience

ACCA affiliate status.

Job Opportunities

IFRS professionals are in huge demand in India, Finance professionals equipped with IFRS certification have an advantage over others as they have knowledge of international accounting standards, IFRS qualification will make you eligible to work in 100+ countries and there are more many added on advantages to this degree. The demand is higher because there is a lesser number of IFRS professionals in India and moreover, experts can offer consultancy services to companies adopting IFRS standards and need assistance with migrating older accounts to newer accounting structures. It is mandatory for people who are Financial Controllers, Accountants, Chief Financial Officers, Chief Accountants, Finance Managers, Bank Managers, Auditors, and Portfolio Managers to be IFRS proficient. The list of companies includes IT firms like Wipro, Infosys Technologies, and NIIT, automakers like Mahindra & Mahindra and Tata Motors, textile companies like Bombay Dyeing, and pharma firm Dr. Reddys Laboratories. Another report suggests that most of the accounting consultants specialized in IFRS work in India at an average salary of Rs 15 lacs to Rs 16 lacs per annum and it can also go up to Rs 19 lacs in some cases.

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