Benefits of IFRS Course : Career Scope and Reasons

International Financial Reporting Standards, also known as IFRS, were earlier introduced in the form of International Accounting Standards (IAS). These standards came into existence in the year 1973 and 2001, to ensure a globally acceptable language for business accountancy that can be followed and understood by individuals throughout the globe. In other words, IFRS is nothing but the global parameters in the field of accountancy for data presentations. The core idea is to maintain documentation, books, and other accounting-related data in a relevant format for internal and external users to comprehend.

Since IFRS, as a global accounting standard, has become mandatory for accountants in different parts of the world, several local, international and government organisations require an IFRS expert who can keep the accounting activities and data as per these global standards. If you are considering a career in IFRS, here are some of the IFRS benefits and the career scope after the certification.

IFRS Course Details Guide

Benefits of doing IFRS course and why you should consider

IFRS is a short term three-month course offered by the ACCA body. This course provides essential international financial reporting knowledge and principles that will equip candidates to operate in an increasingly competitive global marketplace. Here are some of the other IFRS benefits that will make you consider this short term course.
1. Adds more value to your accounting career

Whether you have a CPA, CA, ACCA, Company Secretary (CS), or a Certified Financial Planner(CFP) degree, doing an IFRS course will add more value to your existing degree with added knowledge and responsibilities. Since there are very few professionals who’ve received IFRS training along with their professional accounting courses, the demand for these professionals is quite high. One of the major IFRS benefits is gaining a global accounting perspective, which eventually adds more value to your career.

2. Makes you a global professional

As mentioned earlier, IFRS is a singular language that needs to be used and implemented by all financial sectors and other companies throughout the world. Large firms that implemented IFRS at an earlier stage discovered smooth financial functioning, transparency, accountability and increased efficiency. IFRS benefits include the removal of information gaps and the international comparability advantage, which further enable investors and other participants to make informed decisions. Having knowledge of IFRS helps you learn and work as per global accounting standards.

3. Opens doors to global career opportunities

With a Diploma in IFRS you can work in any part of the world, based on your preference. A Diploma in IFRS not only makes you eligible for the best accounting opportunities in India but also abroad. About more than 120 countries have adopted IFRS standards, and are hiring experts on a large scale. With this accounting certification, you can improve your global career prospects within no time.

What is the career scope after completing a Diploma in IFRS

A diploma in IFRS is usually pursued in association with another accounting degree such as CA or ACCA. Since it is a short term course, it can easily be done during your long term accounting courses.  After completing the three-month Diploma in IFRS course, there are many career opportunities that one can explore in the field of finance and accounting. Some of the most popular professions after completing the IFRS Certification.

  • Financial Consulting
  • IFRS Trainer
  • Financial Analyst
  • Chartered Accountant
  • ACCA

Indian firms that hire IFRS Experts

Source

International firms that hire IFRS Experts

Source

The Average Salary of an IFRS Expert

One of the major benefits of doing the IFRS course is the high salary package that the innovative SMEs and MNCs have to offer. Here’s an average salary presentation of an IFRS expert in India to give you better clarity on what lies ahead for you if you happen to choose this as your profession.

Source

The International Financial Reporting Standards (IFRS) are important benchmarks in the field of accounting. If you are looking to enhance your knowledge about the IFRS, check out our Diploma in International Financial Reporting Standards (IFRS). This certification is issued by the Association of Chartered Certified Accountants (ACCA). 

How long is the IFRS course?

The IFRS course is a short term, 3-month course that provides qualified accountants or graduates, possessing relevant country-specific qualifications or work experience with an up to date and relevant conversion course. It offers practical and detailed knowledge of the key international financial reporting standards (IFRS® Standards) and how they are interpreted and applied.

Is IFRS better than GAAP?

While IFRS is the international accounting standard and GAAP is the Indian accounting standard. The major IFRS benefit is that it focuses on accurate, timely and comprehensive financial statements, GAAP focuses on the investors. Depending on the country and job requirements, they both are quite effective in their own ways.

What are the four basic principles of IFRS?

The four principles of IFRS on which the financial statements are prepared are clarity, relevance, readability and comparability.

Related Posts

Get 1:1 Free Career Counselling
Talk to our Expert
Get 1:1 Free Career Counselling
Talk to our Expert
Download ACCA Brochure
Your name
Email Address
Phone
Contact Information
1 (800) 921 89 15
reachus@zelleducation.com
Download Now
Get Acca Course Details , Syllabus, Eligibility , also our Counselor will get in touch with you.