Foundations in International Financial Reporting Standards
Accreditation Review Date
Mar 31, 2015
Guided Learning Hours (GLH)
International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. It also facilitates companies involved in international mergers and acquisitions. International Financial Reporting Standards are progressively replacing the many different national accounting standards. IFRS began as an attempt to harmonise accounting across the European Union but the value of harmonisation quickly made the concept attractive around the world. They are sometimes still called by the original name of International Accounting Standards (IAS). IAS were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC) took over by International Accounting Standards Board (IASB)
Who is this qualification for?
The qualification is open for students who completed ‘O’ level (10th) or equivalent. The learners are advised to have a basic understanding of accounting and a strong passion for finance.
This qualification has been developed for learners in India but may also be of considerable benefit to those in other countries. Those training institutions outside India that may be interested to be accredited to provide courses leading to this qualification should in first instance email their enquiry to firstname.lastname@example.org
Unit 1- IASB and regulatory framework
Unit 2- Adoption of IFRS
Unit 3- Conceptual framework for financial reporting
Unit 4- Presentation of published financial statements
Unit 5- IFRS in the global and regional scenario