The present era of globalisation has led to the disintegration of business boundaries and necessitated the establishment of some common business practices. These practices are understandable, verifiable, and accessible to professionals in the accounting field across the globe. Therefore, various countries are replacing their national accounting standards with IFRS. In this blog, we will focus on what IFRS is and how professionals can benefit from taking up an IFRS online certification course-
What is IFRS?
IFRS, short for International Financial Reporting Standard (IFRS), is a language accepted globally for the presentation of business accountancy. In other words, IFRS refers to generalised parameters formulated for account presentations of publicly traded companies. The primary purpose behind these parameters is to maintain reliable, relevant, and globally comparable books that can be accessed by both internal and external users.
Scope of IFRS Certification in India
The global recognition earned by IFRS not only prompted Indian companies to follow suit but also created a learning segment for accounting and finance professionals. As more companies are recruiting professionals with knowledge and experience in IFRS, the accounting language is enjoying high demand in India.
As companies are adopting IFRS standards and require assistance for migrating to new accounting structures, they need people with knowledge of IFRS. Therefore, youngsters who wish to enter the finance industry can improve their career prospects by getting IFRS certification.
Who can Opt for IFRS Certification?
Professionals who have either completed or are currently doing courses such as Chartered Accountancy (CA), Chartered Financial Analyst (CFA), Company Secretary (CS), Certified Public Accountant (CPA) or MBA in finance and marketing should consider opting for IFRS certification. To be at par with the global finance experts, they can opt for IFRS online certification course in India.
Roles of an IFRS Certified professional
As the IFRS training takes place with international paradigms, it equips professionals to not only work in India but abroad as well. There has been immense growth in the demand and opportunities for people who have IFRS expertise. Let’s have a look at the roles people with IFRS certification can choose from-
● Sectors like banking and insurance have a huge demand for IFRS certified professionals
● In addition to banks and insurance sectors, non-financial and listed companies have also started following IFRS guidelines since 2011
● There is a growing demand for IFRS consultants in advisory companies who offer their services to accounting and finance firms.
● Professionals with IFRS expertise can also commence their private consultancy firms to advise clients for the transition towards IFRS standards.
● Professionals with IFRS certification can take up the role of an IFRS trainer in the education and financial industry.
Growth Prospects for CA, CPA, and CFA Professionals
If CA, CPA, and CFA professionals acquire IFRS certification, they can skyrocket the growth in their careers. This is because-
● There is a huge demand for IFRS professionals in India
● Finance professionals with IFRS certification will have an upper hand over others because they have knowledge of the international accounting standards.
● IFRS qualification makes professionals eligible for working in more than 100 countries.
If you are a CA, CFA, or CPA professional looking forward to obtaining IFRS certification, you can get connected with AKPIS. We at AKPIS offer online coaching for IFRS certification, and an array of other courses as well. Contact us to know more about a diploma in IFRS eligibility, course, batches, faculty, etc.
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