IFRS Online Courses & Certifications

Choosing IFRS Courses For Better Growth Opportunities in Finance Sector 

 

As a common standard language of accounting, finance professionals benefit from learning IFRS. Short for International Financial Reporting Standards, about 166 jurisdictions globally follow it. While the Indian Accounting Standards are merged with IFRS to a large extent, domestic companies are not required to adopt these international standards. They only need to provide a disclosure confirming with IFRS when following it. GAAP is widely adopted in the US. However, in India, it has been adopted with its own version that the Ministry of Corporate Affairs has created. 

 

You can say that GAAP has limited scope than IFRS in India. In fact, the technology industry in the country, with companies including Wipro, Mahindra and others, largely complies with IFRS. So if you are looking at your career in finance at a macroscopic level and plan to make your mark across different geographical territories, go for IFRS courses. Find out the skills required, eligibility, trending IFRS courses in India and more. 

 

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Importance of IFRS

 

The International Financial Reporting Standards are approved by the International Accounting Standards Board (IASB). This is a private sector governing body. The principles in IFRS are applicable across many different borders which was not the situation earlier. Global companies back then would have more risks and errors when preparing financial reports of transactions with other nations. Because these reports were based on different accounting standards of each country. 

 

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By adopting IFRS, financial reporting becomes transparent. For this reason alone, countries can offer many opportunities for investors through one common accounting language. And, studies show that adopting IFRS results in bringing more financial benefits. So large multinational corporations do require professionals with knowledge of IFRS. 

 

Must-Have Skills to Learn IFRS

 

If you have completed an accounting course, any of the finance courses, or just beginning to learn, check out these important skills to become an IFRS expert. This list of skills will also help you pursue the advanced level IFRS courses. 

 

1. Financial reporting
2. Numeracy
3. Audit
4. Analytical mindset
5. Written and verbal communication
6. Knowledge of businesses along with national and international policies
7. Time management 
8. Superior knowledge of spreadsheet software such as MS Excel

 

Who Can Learn IFRS?

 

Anyone with an accounting background can go for IFRS courses. Financial analysts, chartered accountants and related can also learn these international reporting standards. 

 

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Eligibility For IFRS Courses

 

A bachelor’s degree in accounting or related along with work experience of two or more years in the finance field are necessary for postgraduate diplomas with some IFRS courses. On the other hand, the beginner level IFRS courses online mostly require prior knowledge of accounting. 

 

Top Free Resources to Learn IFRS

 

For learning concepts along with your IFRS courses, read blogs on websites including Wall Street Mojo, KPMG, and CFO Next, among others. 

 

Top IFRS Courses in India

 

The demand for IFRS courses is high because India’s economy is fast growing. Its appliance and consumer market is expected to reach Rs. 3.15 trillion this year (IBEF). 

 

So here is a list of the latest IFRS courses. 

1. IFRS certification by KPMG 
2. Accounting Course Bundle (39 Courses, includes IFRS & US GAAP) on Wall Street Mojo
3. E&Y Manipal University Advanced Certificate in IFRS on Manipal ProLearn
4. IFRS - International Financial Reporting Standards on IACT
5. Interpreting Non-GAAP Reports  on Wall Street Prep

Conclusion 

 

Now that you know the importance of IFRS in today’s global economic climate, choose these IFRS courses based on your skill level and get certified.