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IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : The IFRS Foundation has developed 35 stand-alone training modules – one for each section of the 2009 version of the IFRS for SMEs. The modules are free-to-download.

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : The materials each contain a  notice and terms for the allowed use of the materials, please ensure that you read the notice and terms before using the materials.

Each module includes the following:

  • Introduction—an overview of the module, including:
    – Learning objectives—a description of the capabilities and competences that the learner should attain by successfully completing the module.
    – The IFRS for SMEs and the material that accompanies, but does not form part of, the IFRS.
    – An overview of the requirements of the section, ie a brief technical summary.
  • Requirements—the full text of the section of the IFRS for SMEs with added notes and worked examples. The notes and examples are designed to clarify and illustrate the requirements.
  • Significant estimates and other judgements—a discussion of significant estimates and other judgements in accounting for transactions and events in accordance with that section of the IFRS for SMEs.
  • Comparison with full IFRSs—a summary of the main differences between this section of the IFRS for SMEs and the corresponding full IFRS.
  • Test your knowledge—a collection of multiple-choice questions (with answers) designed to test the learner’s knowledge of the requirements of this section of the IFRS for SMEs.
  • Apply your knowledge—a collection of case studies (with solutions) designed to develop the learner’s ability to account for transactions and events in accordance with this section of the IFRS for SMEs.

IFRS Study Material And Practice Manual

Important Note – Preparing for IFRS?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  

IFRS Study Material And Practice Manual : The study guide is designed to help with planning study and to provide detailed information on what could be assessed in any examination session. It offers detailed guidance on the depth and level at which the examinable documents will be examined.

IFRS Study Material And Practice Manual

 IFRS Syllabus And Study Guide : 

Study Guide Download

Diploma in International Financial Reporting study material

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Diploma in International Financial Reporting December 2017 to June 2018

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IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual :  A list of examinable documents for the Diploma in International Financial Reporting (DipIFR) is issued by ACCA once a year.

The current list of examinable documents is available from the ‘Related documents’ section of this page.

You will need to have knowledge of new examinable regulations issued by 1 September each year, as you will be examined on them the following calendar year*. You may still be examined on these documents even if the effective date is in the future.

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual :  International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization 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.

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : International Financial Reporting ObjectiveStandards (IFRS), issued by the International Accounting Standards Board (IASB), is rapidly becoming a benchmark for the accounting world.

With the growing number of countries opting for IFRS, the numbers of finance professionals with qualification in IFRS is increasing globally.

The recently (2014) notified Indian Accounting Standards (IND AS) have been converged with International Financial Reporting Standards (IFRS).

This mark a paradigm shift in the regulatory and reporting landscape for companies in India.

DipIFR from the Association of Certified Chartered Accountants is one such qualification which can provide a detailed conceptual insight into IFRS. Diploma from ACCA (UK) is widely recognized in India and around the world.

DipIFR is useful for accounts and finance professionals working or intended to work in environment requiring accounting and reporting using IFRS. DipIFR is designed to develop an individual’s knowledge of IFRS – providing an understanding of the concepts and principles which underpin them, and their application in the international marketplace, thereby preparing him / her for working in the IFRS environment.

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : List of all modules

Modules Titles
1 Small and Medium-sized Entities
2 Concepts and Pervasive Principles
3 Financial Statement Presentation
4 Statement of Financial Position
5 Statement of Comprehensive Income and Income Statement
6 Statement of Changes in Equity and Statement of Income and Retained Earnings
7 Statement of Cash Flows
8 Notes to the Financial Statements
9 Consolidated and Separate Financial Statements
10 Accounting Policies, Estimates and Errors
11 Basic Financial Instruments
12 Other Financial Instruments Issues
13 Inventories
14 Investments in Associates
15 Investments in Joint Ventures
16 Investment Property
17 Property, Plant and Equipment
18 Intangible Assets Other Than Goodwill
19 Business Combinations and Goodwill
20 Leases
21 Provisions and Contingencies
22 Liabilities and Equity
23 Revenue
24 Government Grants
25 Borrowing Costs
26 Share-based Payment
27 Impairment of Assets
28 Employee Benefits
29 Income Tax
30 Foreign Currency Translation
31 Hyperinflation
32 Events after the End of the Reporting Period
33 Related Party Disclosures
34 Specialised Activities
35 Transition to the IFRS for SMEs

IFRS Study Material And Practice Manual

Important Note – Preparing for IFRS?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  

IFRS Study Material And Practice Manual :  On completion of the DipIFR course, individuals should be able to:

  • Understand and explain the structure of the framework of international accounting
  • Apply relevant financial reporting standards to key elements of financial reports
  • Identify and apply disclosure requirements for companies in financial reports and notes
  • Prepare group financial statements (excluding group cash- flow statements) including subsidiaries, associates and joint ventures.

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : Programme highlights

  • The programme is based on the ‘Diploma in IFRS’ from ACCA syllabus.
  • The programme aims to prepare participants for the ‘Diploma in IFRS’ examination conducted by ACCA
  • The programme covers seventy five (75) hours of intensive and interactive classroom training
  • The sessions will be held at weekends
  • Each session will not only cover the topic but also important difference between IFRS and Ind AS
  • Mock examination and self-assessment tests shall be conducted to help students prepare well for the examination.

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : 

  • Association of Chartered Certified Accountants (ACCA) accredited gold approved learning provider.
  • Participants will be provided access to the Learning Management System (LMS) for a year from the date of batch commencement, which includes:
    • Session presentations
    • Summary of standards
    • Extracts of annual reports of IFRS compliant companies
    • Features like ‘Ask a KPMG in India Specialist’.
    • KPMG in India publications will be available for download.
    • Modules on difference between IFRS/IndAS/IGAAP.
  • The programme is conducted by experienced professionals from KPMG in India.
  • Study material and question bank for DipIFR (ACCA) sourced from Becker professional education- ATC International, a gold approved publisher of learning material by ACCA (U.K.)
  • KPMG in India will award a certificate of participation to participants who have minimum 90 per cent attendance in the sessions and have appeared in all monitoring and mock tests conducted during the training

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : If you want to learn IFRS protocols, here are some recommended courses.

1. Certificate Course on International Financial Reporting Standards in 100 hours by ICAI for CA members.
2. Certificate Course on International Financial Reporting Standards Convergence in 2 months by ICWAI for university faculties, students, cost accountants, chartered accountants, company secretaries, senior and middle-level executives in various organisations like statutory bodies and multinationals.
3. Advanced Certificate Program on IFRS in 6 weeks by KPMG for 2+ years working professionals. However, the experience requirement is not necessary for MBA (Finance), CA, CWA and CS.
4. Diploma in International Financial Reporting in 3-6 months by ACCA for graduates holding 3+ years of experience in finance, commerce post-graduates holding 2+ years of experience in finance, auditors and practicing accountancy.
5. IFRS / IND AS Certification Programs in 40 hours for students and professionals attempting ACCA exam.

IFRS Study Material And Practice Manual

Important Note – Preparing for IFRS?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below – 
For any questions Request A Call Back  

IFRS Study Material And Practice Manual : Approximately 120 nations and reporting jurisdictions permit or require IFRS for domestic listed companies, although approximately 90 countries have fully conformed with IFRS as promulgated by the IASB and include a statement acknowledging such conformity in audit reports. Other countries, including Canada and Korea, are expected to transition to IFRS by 2011. Mexico will require IFRS for all listed companies starting in 2012. Japan has introduced a roadmap for adoption that it will decide on in 2012 (with a proposed adoption date of 2015 or 2016) and is permitting certain qualifying domestic companies to apply IFRS from fiscal years ending on or after March 31, 2010. Still other countries have plans to converge their national standards with IFRS.

IFRS Study Material And Practice Manual

IFRS Study Material And Practice Manual : 

The world has been constantly moving to the single set of global accounting rules. There is a strong ambition to adopt IFRS as a unified set of financial reporting standards all over the planet by 2015. So yes, I understand that accountants and other finance people need to gain at least some degree of IFRS knowledge, since they might face IFRS directly in their job. Maybe it’s also your case.

Now, how to learn IFRS? Where to start?

Well, it depends. First, you should ask yourself at least the following questions:

  • What is your current knowledge of IFRS? None at all? Or have you already acquired some base?
  • What is your purpose of learning IFRS? How deep knowledge would you like to possess? Do you want to obtain some certificate or “offcial” qualification or just learn it to be able to deal with it in your job?
  • What is your budget for learning IFRS? Do you want to keep it free or with minimal financial cost? Or you have a quite generous budget for this?
  • How much time are you able or willing to dedicate to your IFRS training? Are you very busy guy and have only evenings / weekends? Or can you afford to skip some days from your daily job and visit classes?

Yes, all this matters, because there are many options what and how to do. So let’s say you are an accountant or financial guy with solid accounting base, but IFRS is something you have heard of but never really touched. There is a certain path to follow no matters tools you chose. Being me in your shoes, I would start my IFRS learning as a step-by-step process:

  1. Learn the basic structure of IFRS
  2. Read the Framework
  3. Get some knowledge about individual standards
  4. Develop your knowledge and be up-to-date

So let’s start with the first one.

1. Learn the basic structure of IFRS

Familiarize yourself with the basic structure and concept of IFRS. This is not a hard part. To start digging a bit deeper into this complex topic, you should know what is in front of you. Let me draft a simple picture.

IFRS is an acronym for International Financial Reporting Standards and covers full set of principles and rules on accounting treatment of various items or situations. This full set comprises the following components:

  • Framework for the Preparation and Presentation of Financial Statements
  • International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS)
  • Standing Interpretations Committee (SIC) and Interpretations originated from the International Financial Reporting Interpretations Committee (IFRIC)

2. Read the Framework

For any beginner in IFRS, the Framework is the basic concept of IFRS and therefore it is a MUSTREAD document. Anyway, it’s not so time consuming, as the Framework itself has only about 30 pages and as an experienced accounting professional you would be familiar with many concepts in it. You can find full text of the Framework .

3. Get some knowledge about individual standards

Now while you can read the Framework yourself without any pain, it’s almost impossible and ineffective to read and study the texts of individual standards, interpretations and accompanying docs – it’s more than 3 000 pages!

There are many possibilities how to learn basic principles and rules in individual standards. You might want to pick one of them based on your time and budget available. In my opinion, 2 main streams of learning IFRS are face-to-face training and self-study.

Face-to-face training

What I mean by saying “face-to-face” is attending a classic form of the study: long-term courses in the class, short-term seminars or workshops, etc. This should work wonderfully – I learned most of my IFRS basics this way. Let me just sum up pros and cons of face-to-face training:

Pros:

  • learning from experienced tutor with personal contact
  • high level of interactivity – you might ask for additional explanations or any questions you don’t understand and often you get a feedback from your tutor
  • full focus on the topic – when you attend a lecture, you will not be distracted by so many things around you (like 5 minutes for coffee, 5 minutes for “very tiny help” to your colleague or family member) and therefore, your study will be very effective.

Cons:

  • high costs – if you’d like to attend really high-quality training, you will pay for it – oh yeah. I remember that the cost of my 6-day course on IFRS was about 4 000 EUR. Of course, tutor and topics covered were wonderful, however, if cost is something that bothers you, then check out other forms of training.
  • time consuming – face-to-face training usually takes place during your normal working or business hours and you must find a space in your overloaded schedule. That might be a problem, especially during a high or busy season.
  • inconvenient – you might also suffer from certain form of inconvenience. Often, you have to travel to the location that is far far away from your office or home. Or, you might feel distracted by other attendants in the class.

IFRS Study Material And Practice Manual

Cakart.in provides India’s top IFRS faculty video classes – online & in Pen Drive/ DVD – at very cost effective rates. Get IFRS Video classes from www.cakart.in  to do a great preparation for primary Student.

Watch IFRS sample video lectures Here
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