IFRS Overview

International Financial Reporting Standards (IFRS) are accounting standards and principles set by the International Accounting Standard Board (IASB) and are becoming global standards for preparation of financial statements. Most countries are converging their standards towards IFRS or adopting IFRS as they are, to enable uniform reporting. India, as a step closer to convergence with IFRS, has adopted Ind-AS.

The advantage of establishing global accounting standards is that a single format would be used for financial statements across all companies internationally. This would make it easier for companies to compete abroad, raise capital and to win global contracts by providing consistent and comparable financial details.

About IFRS

  • Various IFRS profiles are being offered in several sectors of the industry that include ITES, software, pharmaceutical, auto spare part, professional advisory companies, auditing firms, banking industry, Insurance industry, KPOs, etc.
  • Skilled and experienced IFRS experts can establish their own consultancies to help companies migrate to IFRS
  • Practical knowledge of these universal standards will open doors across the globe as more than 100 countries have given green signal in their accounting boundaries.
  • Application of these standards is complex and time consuming which underlines the significance of IFRS professionals

Course Highlights

  • Candidates pursuing graduation, post-graduation in commerce, or qualified professionals like MBAs, CAs, CMAs, CSs, CFAs, CFPs or any other relevant course in the field of finance can opt for this certification in IFRS.
  • Accounting professional who wants to supplement his / her skill sets by learning the new accounting standards to perhaps make a job-shift or simply to be updated.
  • Accounting professional who wants to supplement his / her skill sets by learning the new accounting standards to perhaps make a job-shift or simply to be updated.
  • Describe the major organizations that set standards for financial intermediaries.
  • Describe the basic features of a financial reporting conceptual framework.
  • Describe the changes toward a more principles-based approach to accounting.
  • Explain the strengths and weaknesses of rules-based and principles-based approaches to
    financial reporting.
  • Explain the key issues in determining fair value for insurance liabilities.
  • Explain the key concepts in determining fair value of assets.

Duration: 120 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 60 (60%); There is negative marking for incorrect answers.

Certificate validity: For successful candidates, certificates are valid for 5 years from the test date.

Module Fees GST @ 18% Total Fees
1700 306 2006

 Total Fees : Rs.2006/- (Rupees Two Thousand and Six Only). inclusive of GST.

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About IFRS Syllabus

CHAPTER 1: IFRS Certification Course
  • IFRS Certificate Program creates an understanding of International Financial Reporting Standards, necessary for success in the contemporary global business world.
  • Our program teaches IFRS with practical approach and examples.
  • This program also prepares the candidates for certifications in Ind – AS and Diploma / Cert IFRS
CHAPTER 2: About IFRS
  • International Financial Reporting Standards (IFRS):
  • Are accounting standards and principles
  • Are set by the International Accounting Standard Board (IASB)
  • Are becoming global standards for preparation of financial statements.
  • Enable uniform reporting
  • Most countries are converging or adopting their standards towards IFRS
  • India, as a step closer to convergence with IFRS, has adopted Ind-AS
CHAPTER 3 : Benefits of studying IFRS
  • ITES,
  • Software,
  • Pharmaceutical,
  • Auto spare part,
  • Professional advisory companies,
  • Auditing firms,
  • Banking industry,
  • Insurance industry,
  • KPOs, etc.
CHAPTER 4 : Why NSE Academy certification?
  • NSE Academy is the certifying body for financial modules
  • The only IFRS program in India certified by NSE Academy
  • On completing this certification candidate will learn to:
  • Apply relevant financial reporting standards to key elements of financial reports
  • Identify and apply disclosure requirements for companies in financial reports and notes to accounts
  • Prepare group financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint arrangements Attempt Cert IFRS examinations (ACCA) without any further coaching
CHAPTER 5 : Who should pursue this certification?
  • Candidates pursuing graduation,
  • Post-graduation in commerce,
  • or qualified professionals like MBAs,
  • CAs, CMAs, CSs, CFAs, CFPs
  • Or any other relevant course in the field of finance can opt for this certification in IFRS.
CHAPTER 6: On completion of this certification
  • Get an additional certification of IndAS and 10-15 hours of training for Dip IFRS (ACCA) from IMS Proschool with no additional cost.
  • *Attempt Cert IFRS examinations (ACCA) without any further coaching
  • *Apply relevant financial reporting standards to key elements of financial reports.
  • *Identify and apply disclosure requirements for companies in financial reports and notes to accounts.
  • *Statements (excluding group cash-flow statements) including subsidiaries, associates and
CHAPTER 7: Syllabus at glance
  • The nature and operations of the IASB
  • The status and use of IFRSs around the world
  • Presentation and profit
  • Accounting for assets and liabilities – part 1
  • Accounting for assets and liabilities – part 2
  • Group accounting
  • Disclosure standards
CHAPTER 8: Certification process
  • Enroll with IMS Proschool for IFRS course
  • Complete classroom training in 3-months
  • Clear the internal examination with minimum 70%
  • Fill the exam form on the Proschool website with NCFM ID. If you don’t have an NCFM ID, you can visit www.nseindia.com
  • Take the exam at NSE India or NSEIT Centers
  • Clear the NSE India Certification on IFRS and get certification
  • Get an additional 10-15 hrs. Classroom training (LVC) for Dip IFRS/ Ind As