International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organisation called the International Accounting Standards Board (IASB). A single standard which provides investors and auditors with a cohesive view of finances.International financial reporting standards (IFRS) is based around the syllabus of the The Association of Chartered Certified Accountants (ACCA).
I had studied by myself (self-study) for all the 14 ACCA examinations. My mentor (also an ACCA) had given me a few tips on how to go about with it. I have mentioned the process below, and we apply the same process to all our students at ACCA Classes – Zell Education. Please understand that ACCA syllabus is training us for the professional world. Application of the concepts is the goal. Do not try to memorise everything without inculcating the ability to apply what you have memorised. Make sure you have a small background understanding of the core concept of the subject you are attempting to study.For example, if you are appearing for the F2 Management Accounting paper, know what management accounting is in brief before you go ahead. Yes, the book does contain an introduction, but having some perspective on the subject before diving into it is a great way to start to provide direction for your thoughts.
Unlike the other accounting degrees, Bachelors of Accounting and Finance (B.A.F.) offers a broader understanding of financial techniques, institutions, markets and systems. It involves the study of financial decision-making under uncertainty, which is applicable to banking, financial consulting and planning, funds management, merchant banking, stockbroking and treasury.
1.Advantages and Disadvantages of having either a CFA, CIMA, ACCA or CAIA(in terms of difficulty level, usefulness, career opportunities, process, and duration to obtain the certification)? The advantages and disadvantages of ACCA have been mentioned below with all the specific points you have mentioned. The difficulty level for ACCA is quite high after the initial few examinations. However, with the correct approach and right guidance, it can be relatively manageable.
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