An ACCA Diploma in IFRS allows students to develop a deep working knowledge in the area of finance. The certificate in international financial reporting offers a detailed introduction to the field of International Financial Reporting and its Standards. It acquaints students to the origins of the Accounting Standards Board (IASB) to its present functions. The ACCA Diploma in IFRS is one of the most respectable and a much-appreciated qualification in the accounting world.
The ACCA Diploma in IFRS conducts a single 3hr 15min written exam, with 50 percent as the pass mark. It is held at ACCA’s exam centers in June and December.
How is it useful?
The ACCA Diploma in IFRS will help students to gather a strong grasp of the financial principles and concepts and learn about their application in the marketplace, both domestic as well as global.
IFRS Diploma in India
In India, the ACCA Diploma in IFRS is issued under an equivalent accounting standard referred to as Ind-AS. This makes it mandatory for accounting and finance professionals to be aware of the accounting standards as per the Ind-AS framework. Therefore, when pursuing an ACCA Diploma in IFRS in India, one will also be studying about the important differences between the IND-AS and the IFRS.
Objectives of Pursuing an ACCA Diploma in IFRS?
An ACCA Diploma in IFRS will equip a student in understanding the structure of IFRS and its application of the relevant financial reporting standards to the main elements of financial reports. It will also help professionals to identify and apply the requirements of disclosures for companies. The ACCA Diploma in IFRS will prove helpful in the preparation of group financial statements like associates, subsidiaries, and joint ventures.
The ACCA Diploma in IFRS requires candidates to be a professional accountant or auditor and be qualified as per the national accounting standards. For those students who are not yet qualified, but have been working in the field, they are still eligible for the completion of the following requirements:
- Two years of relevant work experience in accounting and a relevant degree that exempts F1-F4
- Two years of relevant work experience in accounting along with an ACCA Certificate in International Financial Reporting
- At least three years of relevant accounting experience
- Any ACCA affiliate status
Those candidates who do not meet any of the entry requirements to join the ACCA Diploma in IFRS may choose to apply for an online Certificate in International Financial Reporting as offered by some institutions.
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