ACCA Certificate in International Financial Reporting

Overview

Cert IFRS offers a comprehensive introduction and updates to the field of International Financial Reporting and International Financial Reporting Standards. It traces the history of the International Accounting Standards Board (IASB) from its early roots through to the recent changes and future developments. Structured in a readable and user-friendly format, the course distils key information into easy-to-digest bullet points, provides useful summaries and examines, topic-by-topic, specific standards. Frequently asked questions and answers expand on the points covered, while case studies are based on real-life examples. In addition a large number of exercises, multiple-choice questions and sample answers enable you to confidently test your knowledge and guide you as you progress through the course.

Course objectives

• To help you understand how International Financial Reporting Standards (IFRS) are used around the world,
• To explain the workings of the IFRSF/IASB and how these are being changed,
• To examine the fundamental requirements of IFRS on a standard-by-standard basis for the benefit of preparers, auditors and users of financial statements,
• To provide guidance on how to use IFRS in practice with the aid of questions, cases and exercises.

Who is it for?

The target audience is professional accountants and auditors, qualified in accordance with their national accounting standards. It will add value for those people who have bachelors or diploma in accounting with some working experience. However, it is possible for those with experience, but no formal qualifications in accounting and auditing to register for this Certificate.

Salient Features:

• First formal qualification in the sultanate which comprehensively covers all IASs/IFRSs.
• Certificate will be issued by ACCA, a well-recognised and respected name in the accounting profession in more than 170 countries.
•  The course will be delivered by an ACCA member which will involve extensive syllabus coverage, tests and mock exams. The students will get an orientation to actual application of standards by looking at financial statements of various companies.

Assessment

The assessment consists of one hour online multiple choice questions examination. Passing marks are 50% and student gets two more chances in case he/she is not successful first time.

Mode of Delivery

The course will be delivered through face to face interactive sessions whereby classes will be conducted for 6 hours every week (evening or weekend classes for working candidates)

Certification

On successful completion of the examination certificate in international financial reporting will be awarded by ACCA.

Fees Structure

For the complete details of the fees, please refer to the Fees Structure

Sample examination questions

Sample examination questions can be accessed at following link

http://www.accaglobal.com/content/dam/ACCA_Global/qual/certifr/example-questions-certifr.pdf

Course Syllabus

1. The nature and operations of the IASB

• Structure of the IFRSF/IASB
• Extant standards of the IASB
• The framework.

2. The status and use of IFRSs around the world

• The use of IFRS around the world
• The IASB roadmap
• The annual IASB bound volume and its use.

3. Presentation and profit

• IAS 1, Presentation of financial statements
• IFRS 15, Revenue from contracts with customers
• IAS 8, Accounting policies, changes in accounting estimates and errors.

4. Accounting for assets and liabilities - part 1

• IAS 16, Property, plant and equipment
• IAS 38, Intangible assets
• IAS 40, Investment Property
• IAS 36, Impairment of assets
• IAS 23, Borrowing costs
• IAS 20, Accounting for government grants and disclosure of government assistance
• IAS 2, Inventories
• IFRS 16, Leases
• IFRS 5, Non-current assets held for sale and discontinued operations

5. Accounting for assets and liabilities - part 2

• IFRS 13, Fair Value Measurement
• IFRS 32, Financial instruments - presentation
• IFRS 9, Financial instruments
• IFRS 7, Financial instruments: disclosures
• IFRS 2, Share-based payment
• IAS 37, Provisions, contingent liabilities and contingent assets
•  IAS 10, Events after the reporting period
• IAS 19, Employee benefits
• IAS 12, Income taxes
• IAS 41, Agriculture
• IFRS 6, Exploration for and evaluation of mineral resources. 

6. Group accounting

• IFRS 10, Consolidated Financial Statements
• IAS 27 (revised 2011), Separate financial statements
• IFRS 3, Business Combinations
• IAS 28 (revised 2011), Investments in associates and joint ventures
• IFRS 11, Joint arrangements
• IFRS 12, Disclosure of interests in other entities
• IAS 21, The effects of changes in foreign exchange rates
• IAS 29, Financial reporting in hyperinflationary economies.

7. Disclosure standards

• IAS 7, Statement of cash flows
• IAS 24, Related party disclosures
• IAS 33, Earnings per share
• IAS 34, Interim financial reporting
• IFRS 4, Insurance contracts
• IFRS 1, First time adoption of IFRS
• IFRS 8, Operating segments.

8. Principal differences between UK/US GAAP and IFRS

9. Proposals for change

For further information and registration please contact

Mr Ikram Ul haq

24730461

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