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In financial reporting, there should be a standard process and way of representing it which makes the accounts of any organization understandable across international boundaries. This is the reason why IFRS is an important concept. IFRS is a single set of accounting standards that are made with the aim to simplify inter-economic transactions. IFRS brings transparency to the financial markets and makes them more accountable and efficient. And as more and more firms are trying to move their regular accounting system following global standards, the demand for IFRS professionals is increasing.
The Dip IFRS
is for finance professionals who want to have a deep understanding of International Financial Standards. It increases the employability of students by opening the doors of global opportunities as IFRS is mandatory compliance in more than 100 nations across the globe.
IFRS professionals are in huge demand in India. Finance professionals equipped with IFRS certification
have an advantage over others as they have knowledge of international accounting standards. Let’s look at some of the scope and advantages of IFRS.
The Advantages of IFRS certification
IFRS provides a common language for global business exchanges so that financial reports share the same familiar format everywhere in the world
- If you are looking to start a career as a finance manager, an IFRS certification can help you.
- Getting certified in IFRS and having the right skills will enable you to get various opportunities to work with top organizations.
- Demand for people who are skilled in this field in India has skyrocketed. Hence, you can get attractive salary packages if you have a certification in IFRS.
- You can improve your chances of getting a promotion in the financial and banking sector.
- You can start a successful career in the financial education industry as a subject matter expert offering training in IFRS.
A diploma in IFRS aims to obtain the following objectives:
- It gives the knowledge of understanding the structure of the internal accounting framework and implements it.
- It teaches individuals to prepare and apply financial reporting standards to bring out accurate financial reports.
- Collective financial statement preparation strategies for better business handling.
Let’s have a look at the various roles an IFRS certified person can choose from:
- The banking and insurance sector have a huge demand for IFRS professionals
- Apart from banks, insurance sectors, non-banking financial companies, and listed companies are also following IFRS guidelines since 2011.
- Advisory companies who offer their services to accounting and finance firms require consultants with IFRS certification.
- IFRS experts can also start their private consultancy firms advising clients in the transition towards IFRS standards.
- IFRS professionals can also take up the role of an IFRS trainer in the financial and education industry
These are a few of the objectives of the Diploma in IFRS
that every applicant needs to know. There are loads of opportunities if you are planning to take up this certification course that is internationally approved for diverse professions. There is a certain specific group of people who can take up this IFRS online course. They are:
- Chartered Accountants
- Company Secretaries
- ICWA officials
- All other finance professionals
- Finance Managers
- Chief Accountants
- MBA in Finance aspirants
- Anyone who is working in the accounting domain
If you acquire IFRS certification
, you will have a growth spurt in your career. This is because of the following reasons:
- IFRS professionals are in huge demand in India
- Finance professionals equipped with IFRS certification have an advantage over others as they have knowledge of international accounting standards
- IFRS qualification will make you eligible to work in 100+ countries
- As IFRS guidelines are constantly updated, demand for IFRS experts will continue to be on the rise
IFRS certification of any type is relevant if you will work in audit or financial reporting.