IFRS 1 – First-time Adoption of International Financial Reporting Standards:
The course gives a detailed overview on the IFRS 1. It explains as to how the IFRS need to be adopted for the entity of the first files financial statements that contain an explicit statement of compliance with IFRS. It’s a small course and gives a brief overview on the objective, scope of IFRS, recognition and measurement, accounting policies, exemptions and exceptions, business combinations exemptions and existing IFRS subsidiaries. All the concepts are explained extensively by the use of various case studies for the purpose of deep and insightful understanding.
The first phase of the course involves laying the basic introduction which gives the onlooker/user the basic level understanding about IFRS and give the reader building concepts to be able to understand the rest of the course.
The second phase explains to the user the objective and scope of International Financial Reporting Standards
After having learnt the basic concept, the course lays emphasis on the recognition and measurement. It involves various examples and case studies for the better understanding of the user.
The course also lays emphasis on the globally recognized accounting standards and gives separate lectures on the same.
Alongside policies, accounting and reporting standards the course also takes hold of the exemptions and exceptions of IFRS, which further lays emphasis on the voluntary exemptions too.
Derecognition and Hedge accounting also forma part of the curriculum of the IFRS course.
The core objective of the course/tutorial is to assist the user in gaining a high level overview of the International financial Reporting Standards, so that he /she gets a complete understanding on how to apply these standards while carrying out international trade or shareholding of any global organization.
Pre-requisites for First rime adoption of IFRS
Passion to learn:
In a global world like that of today’s’, it is imperative for any accounting professional/ pursuant to learn about IFRS. One of the most important pre-requisite for this course is to have passion and want to learn about the specific course. If one lacks upon the passion, he/she will not be able to reap benefits out of the course.
Interest in finance and accounting
As the IFRS deal solely with the accounting standards, their reporting and exceptions, it is imperative to have a keen interest in both finance and accounting. Having such interest will allow the person to understand the concepts explained in the course in a better way. This interest will steer the user into greater and better learning about the International Financial Reporting Standards.
The course is made to be delivered to:
Professionals (majorly Accountants, Auditors, Accounting Consultants, and Chartered Financial Analysts etc.) who want to excel in global organizations by learning about global standards that ply in their working.
Anyone who wants to learn about International Financial Reporting Standards and improve the knowledge about the working of organizations on a global level.
Frequently asked questions
For how long will the course be accessible to me and is it certified?
The course once bought shall remain accessible to you throughout your life time. There shall be no hindrances of the time period. Also, yes all the courses are certified and provide a verified certificate to the student on the completion of each course.
Why should I participate in this programme?
The program will help you demonstrate to the current and future clients and employer’s of the organization, the knowledge and understanding in applying the newly formed International Financial Reporting Standards. Alongside, it will help you to meet marketplace demands and enjoy enhanced career opportunities. Educba’s IFRS Certificate Program (Course on first time adoption of IFRS) is the latest of such efforts and our most comprehensive educational resource to date. It will give you an edge in the financial world and allow you to supersede by having an additive knowledge about the brewing study of global standards i.e. the International Financial Reporting Standards.
Who should attend the program?
All users and preparers of financial statements can take up this course. Anybody who is in accounting and finance profession and wants to stay abreast with all the latest changes and developments in the new global accounting and finance world (International Financial Reporting Standards) can apply. Professors and students can also apply
“I had heard about the courses of educba from my friend and so I decided to take this online course from educba. This course taught me how to excel the technical skills required to analyze financial statements and effect of accounting, reporting and managerial incentives over financial reporting process through IFRS course. It has given me an opportunity to be globally updated with the changing standards that ply to organizations in order to maintain uniformity in the global reporting standards.
“The courses devised and offered by educba are peculiar and especially devised to benefit the candidates. Being online, we are free to take up the course at our pace and the course curriculum are very insightful and covers all the important aspects. I explored this finance courses by educba thoroughly and was able add some value and buoyancy in my career.
Life time opportunity
It’s a once in a life time opportunity to grab the chance to pick up a course which shall be accessible to you throughout your lifetime. This course shall groom you and the professionals shall mentor you onto a path most suited on the basis of learning gained throughout the length of the course.
The benefits acquired from the learning process shall definitely supersede the cost involved. Thus, rendering it to be a cost effective course. It allows one to be globally updated with the changing standards that ply to organizations in order to maintain uniformity in the global reporting standards.Pre-requisites: