ACCA Diploma in IFRS – Course Details, Eligibility and Duration, Career Prospects
ACCA is the first global accountancy body that introduced a global education program in IFRS. The ACCA Diploma in IFRS, of course, comes with certain conditions and some pre-requisites to qualify for it. However, the course is beneficial from multiple perspectives, thus making it a highly in-demand course in modern times. This blog explores some of the details of the ACCA Diploma in IFRS, the details of the course, the eligibility, and duration of the course, and the career prospects for it.
What is IFRS?
Often, growing businesses expand their operations in several countries. While this is usually healthy for every venture, the linguistic challenges and technical understanding about a certain business report or a business affair could differ with the country and therefore pose a challenge for the animators who try and work on it. To simplify this, and to facilitate a common global language for business affairs, to, in turn, be able to comprehend and compare company accounts across international frontiers, the IFRS Foundation and the International Accounting Standards Board (IASB) issued IFRS (International Financial Reporting Standards).
ACCA Diploma in IFRS | Course Details of ACCA IFRS Diploma
ACCA conducts an examination, clearing which is imperative to be eligible to become an IFRS professional. The completion of the ACCA Diploma in IFRS course would turn you eligible for a Diploma in International Financial Reporting Standards (DiplFR) and Certificate in International Financial Reporting Standards (IFRS). Let us now proceed to look at the details of the diploma course.
- Duration: 3 months
- Eligibility: Graduation and 3 years of minimum work experience in finance and accounting.
- Course Syllabus:
- Elements of Financial Statements: This topic covers various sub-topics including impairment of assets, revenue, intangible assets and goodwill, accounting for tangible non-current assets, financial instruments, employee benefits, share based payment, accounting for taxation, foreign currency transactions, etc.
- Presentation and Additional Discloser: Earnings per share, presentation of published financial statement, SME reporting, miscellaneous standard: related party discloser and segment reporting, reporting financial performance.
- Preparing External Financial Reports for Combined Entities and Joint Arrangements: Accounting for associates, constitution of a group, the consolidated statement of financial position, accounting for joint arrangements, the consolidated PnL and other comprehensive income statement.
- Career Prospects: IFRS professionals are in demand across several companies in the world. These professionals offer advisory services to these companies. Alongside, the banking and insurance sector too required IFRS professionals on a large scale. Besides, one can also work as an IFRS trainer.
Pursuing professional courses like ACCA Diploma in IFRS add to your professional weight, and assures the employer about the level of expertise that you carry with yourself, and how would that expertise be useful to the company.