International Financial Reporting Standards (IFRS) Coaching in Chennai

IFRS is a certification course that acts as an acknowledgment of the bearer’s knowledge in the field of International Finance Reporting Standards. Over 113 countries follow it, and it is gaining more and more acceptance every day. Both the diploma and certificate courses are available. The candidate can choose a course that best suits their needs. The certificate would formally recognize your expertise in the domain. To get more information on where to get your diploma in paramedical distance education, visit Sulekha.com. On Sulekha.com, the candidates can find a 42 which has the names of verified IFRS certification training in Chennai. Aspirants can also refer to the which shows which is the average rating. Sulekha is an excellent service to provide helpful information for the best IFRS certification training in Chennai.

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International Financial Reporting Standards (IFRS)

International Financial Reporting Standards or IFRS are a body of accounting standards and principles set by the International Accounting Standard Board (IASB). It is emerging as the global standard for the preparation of financial statements all over the world. In the contemporary world, most countries are converging their own standards on IFRS or adopting IFRS to smooth out the process of reporting. India also has adopted a similar approach to Ind-AS. The most significant benefit of adopting global accounting standards is that a single format can be used for financial statements globally for all companies. This process makes it easier for companies to participate internationally, raise capital, and to earn global contracts as they can provide consistent and comparable financial goals.

Course objectives

The certification course can be obtained after the students get well-acquainted with the course work and take the required examination and meet all requirements. The courses are normally designed, keeping a few things in mind. The critical pointers for such courses are the following.

• to help the candidate understand how International Financial Reporting Standards (IFRS) are used across the world
• to explain how the International Financial Reporting Standards Foundation (IFRSF) / International Accounting Standards Board (IASB) function and influence financial structure and decision worldwide
• to examine the fundamental requirements of IFRS on a standard-by-standard basis as and when applicable
• to lay down a framework for best practices IFRS in use.

Syllabus IFRS

The syllabus includes the following modules

• The nature and operations of the IASB

The origins of the International Accounting Standards Board, The structure of the IFRS Foundation, International Accounting Standards, and International Financial Reporting Standards, The purpose of financial statements, The Conceptual Framework for Financial Reporting.

• The status and use of IFRS standards around the world

A summary of the adoption of International Financial Reporting Standards in a different jurisdiction, Growth of the International Accounting Standards Board

• Presentation and profit

Review of revenue and policies

• Accounting for assets and liabilities - part 1 and part 2 - It deals with various types of investment-related liabilities;
• Group accounting

Consolidated and separate financial statements.

• Disclosure standards

Norms and best practices

• Principal differences between countries approaches
• Current issues in IFRS

Advantages of the IFRS course Diversified job opportunity - Many IFRS profiles are being offered in various sectors of the industry. For example, ITES, software, pharmaceutical, auto spare part, professional advisory companies, auditing firms, banking industry, the Insurance industry, KPOs, etc. Chance to work internationally - Thorough knowledge of the universal standards adopted all over the world, as in over 100 countries, opens up the possibility to collaborate and work on international projects. Start consultancy firm - For the budding entrepreneurs, getting the IFRS expertise can help them establish their own consultancies to promote the best IFRS practices. The new profession - IFRS is gaining footing every day in the financial world. As an emerging profession, the scope is immense. Candidates would be fortunate to be part of this global and growing trend.

The expected outcome of the IFRS course

As a person with a background in the finance sector, you may feel that you have enough knowledge in the finance sector. However, you may not be aware of the standard of the best reporting practices adopted in the global arena. Apart from learning new ways and tools of reporting, the candidates will come to know how things are done worldwide. It would give them great exposure and streamline their work. The certification helps the candidates be recognized as a serious professional who knows their work. It increases not only employability but also the credibility of the candidate’s field of work.