Take This Quiz & Predict Your Score in the coming CA CS or CMA Exam!
  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

IFRS Confidence In Reporting And Compliance With IFRSs

IFRS Confidence In Reporting And Compliance With IFRSs

IFRS Confidence In Reporting And Compliance With IFRSs : That’s been one of my mantras—focus and simplicity. Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.”—Steve Jobs

IFRS Confidence In Reporting And Compliance With IFRSs-

This article will be based on International Financial Reporting Standards. which is a globally accepted language for business. How to pursue it? How to take up this course and will be it beneficial for us?

Those are the few topics on which we are going to talk about and more importantly we are going to focus on International financial reporting standards.

IFRS Confidence In Reporting And Compliance With IFRSs – Lets discuss about it-:

International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organisation called the International Accounting Standards Board (IASB).

IFSR Provides global framework for should companies prepare and disclose their financial statements. All the general guidelines for preparation of financial statements are provided in IFRS.

IFRS provides international standards, having an international standard is very much important for the company. A single set of world wide standard will simply accounting procedure for a company to use one reporting language. Investors and auditors will also be provided with cohesive view of finance.

Currently more than 100 countries permit or require IFRS for companies, with more countries expected to transition to IFRS by 2015. IFRS is sometimes confused with IAS (International Accounting Standards), which are older standards that IFRS has replaced.

IFRS Confidence In Reporting And Compliance With IFRSs

IFRS Confidence In Reporting And Compliance With IFRSs : 

 The qualitative characteristics are the attributes that make financial information useful. The exposure draft identifies:

  • two fundamental qualitative characteristics relevance and faithful representation
  • four enhancing qualitative characteristics: comparability, verifiability, timeliness and understandability.  They enhance the fundamental qualitative characteristics by distinguishing more useful information from less-useful information.
  • two pervasive constraints that limit the information provided by financial reporting: materiality and cost.

In developing standards, the boards will consider the qualitative characteristics so that information reported in financial reports is useful to capital providers, thus meeting the objective of general purpose financial reporting.

IFRS Confidence In Reporting And Compliance With IFRSs: Overview of all the topics 

  • Informational material
  • Observations on various scenarios that may exist during the preparation of financial statements
  • Interactive tools that will link you to responses to common issues
  • An assessment at the conclusion of each module; use your own discretion to determine if you are satisfied with your score.
  • Links to external internet sites. You may wish to be online when you work through these lessons. Whether you work online or offline you will find the technology that supports each lesson is self-contained.

IFRS Confidence In Reporting And Compliance With IFRSs : 

Our Guides to financial statements help you to prepare financial statements in accordance with IFRS. They are compliance-focused and have two components:

  • Illustrative disclosures, including supplements, that illustrate one possible format for financial statements prepared under IFRS, based on a fictitious multinational corporation; and
  • a companion Disclosure checklist, which identifies the disclosures that may be required based on currently effective standards.

IFRS Confidence In Reporting And Compliance With IFRSs : This course is aiming at the following

  • Introduction of the concepts of IFRS.
  • Dissemination of knowledge on IFRS.
  • Comparison of IFRS with existing Indian Accounting Standards.
  • Issues in relation to IFRS.
  • Conversion of Financial Statements prepared on the basis of Indian GAAP to IFRS based financial statements.

IFRS Confidence In Reporting And Compliance With IFRSs Many Organisations are also providing E learning opportunity:

IFRS learning modules e Learning

e Learning  is learning through the electronic technologies like phones, laptops, tablets etc. It utilised electronic gadget to access the education material from all over the globe, it referes to course, pdf’s and many more. And it is delivered completely online. The following are the elearning syllabus and module:


  • Using IFRS e-learning

IFRS series of standards

  • IFRS 1 First-time Adoption of International Financial Reporting Standards
  • IFRS 2 Share-based Payment
  • IFRS 3 Business Combinations
  • IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
  • IFRS 8 Operating Segments
  • IFRS 9 Financial Instruments:
    • Classification and measurement
    • Derecognition
    • Hedge accounting
    • Impairment
  • IFRS 10 Consolidated Financial Statements
  • IFRS 11 Joint Arrangements
  • IFRS 13 Fair Value Measurement
  • IFRS 15 Revenue
  • IFRS 16 Leases (basic)
  • IFRS 16 Leases (advanced)

IAS series standards

  • IAS 1 Presentation of Financial Statements
  • IAS 2 Inventories
  • IAS 7 Cash Flow Statements
  • IAS 8 Accounting policies, Changes in Accounting Estimates and Errors
  • IAS 10 Events after the Reporting Period
  • IAS 11 Construction Contracts
  • IAS 12 Income Taxes
  • IAS 16 Property, Plant and Equipment
  • IAS 17 Leases
  • IAS 18 Revenue
  • IAS 19 Employee Benefits
  • IAS 21 The Effects of Changes in Foreign Exchange Rates
  • IAS 23 Borrowing Costs
  • IAS 24 Related Party Disclosures
  • IAS 27 Separate Financial Statements
  • IAS 28 Accounting for Investments in Associates
  • IAS 29 Financial Reporting in Hyperinflationary Economies
  • IAS 31 Financial Reporting of Interests in Joint Ventures
  • IAS 32 Financial Instruments: Presentation
  • IAS 32 Financial Instruments: Presentation and IAS 39 Financial Instruments: Recognition and Measurement:
    • Accounting for financial instruments
    • Hedge accounting
    • Derecognition of financial instruments
  • IAS 33 Earnings per share
  • IAS 34 Interim Financial Reporting
  • IAS 36 Impairment of Assets
  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets
  • IAS 38 Intangible Assets
  • (IAS 39 – see IAS 32)
  • IAS 40 Investment Property
  • IAS 41 Agriculture

Other modules

  • IFRIC 12 Service Concession Arrangements
  • Framework for the Preparation and Presentation of Financial Statements
  • IFRS for SMEs

IFRS Confidence In Reporting And Compliance With IFRSs – Overview of registration 

IFRS Registration Procedure :  The information below reflects developments to 16 March 2017 and will be updated through to June 2017 to reflect new and revised financial reporting requirements that need to be considered for financial reporting periods ending on 31 March 2017.

For accounts approved after June 2017, please also refer to subsequent versions of this document for any new and revised IFRSs that have additionally been issued that might require disclosure in the accounts under IAS 8:30.IFRS

IFRS Confidence In Reporting And Compliance With IFRSs- Registration Procedures

IFRS Registration Procedure :   The quickest way to become a DipIFR student is to apply online. To be registered for the June 2017 examination session please ensure ACCA receives your supporting documents no later than 21 April 2017. Please note if you are applying on the basis of experience, a completed ‘Experience confirmation form must be submitted with your supporting documents. Here our team members provide how to fill Online IFRS  registration For June 2017 Exam Related Procedures.

What is the scope in India

There is a huge scope of International financial reporting standards. Most of the companies are adoption this standards because this is becoming a universal language for different candidates.

Many Indian companies are adopting many IFRS and facilitating the learning if IFRS. For many designation like Financial Controllers, Financial Analysts, Accountants, Chief Financial Officers, Chief Accountants, Finance Managers, Bank Managers, Auditors and Portfolio Managers are mandatory to be IFRS proficient now days.

IFRS Confidence In Reporting And Compliance With IFRSs-

INS-AS- Indian industries are converging into IFRS that lead to development of Indian Accounting Standards (IND-AS)

In this accounting era, there is a huge demand for IFRS professionals. The youngsters also planning a career in finance and accounting may have a bright future by having a specialisation in these standards.

The implementation of IFRS as an essential norm for doing business in global markets has turned it into a mandatory requirement for the companies. The companies are seeking this expertise as eligibility for the accounting professionals. Moreover, the companies are also facilitating the existing employees in this area to learn these standards.

NOTE: Becoming a certified IFRS proficient will lead you career to new heights. IFRS is growing everywhere not in India only in the world. So get your self ready for being a proficient in IFRS.

IFRS Confidence In Reporting And Compliance With IFRSs- provides India’s top IFRS faculty video classes – online & in Pen Drive/ DVD – at very cost effective rates. Get IFRS Video classes from  to do a great preparation for primary Student.

Watch IFRS sample video lectures visit
Watch  IFRS  sample lecture books   visit
Watch IFRS free downloads   visit

Leave a comment

Your email address will not be published. Required fields are marked *