Certificate in IFRS Course

Course Description:

The Certificate in International Financial Reporting Standards (IFRS) by the Association of Chartered Certified Accountants (ACCA) is designed to provide learners with an introduction to the principles of IFRS.

This certificate is suitable for finance professionals who want to enhance their knowledge of IFRS or those who are new to IFRS. The course covers the basic principles of IFRS and provides learners with the tools to apply these standards in their day-to-day work.

Course Outline:

The Certificate in IFRS by ACCA covers the following topics:

Introduction to IFRS:

This module provides an overview of the history and development of IFRS, the structure of the IFRS framework, and the key principles underlying IFRS. Learners will gain an understanding of the importance of IFRS and how it differs from local GAAP.

Presentation of Financial Statements:

This module covers the requirements of IAS 1, which sets out the principles for presenting financial statements. Learners will understand the format and content of financial statements, the rules for recognizing and measuring assets and liabilities, and the principles for disclosing information in financial statements.

Financial Instruments:

This module covers the requirements of IFRS 9, which sets out the principles for the recognition, measurement, and disclosure of financial instruments. Learners will gain an understanding of the different types of financial instruments, how they are classified and measured, and the rules for recognizing gains and losses on these instruments.

Revenue Recognition:

This module covers the requirements of IFRS 15, which sets out the principles for recognizing revenue from contracts with customers. Learners will understand the criteria for identifying a contract, the principles for allocating transaction price, and the rules for recognizing revenue over time.

Leases:

This module covers the requirements of IFRS 16, which sets out the principles for the recognition, measurement, and disclosure of leases. Learners will understand the definition of a lease, the different types of leases, and the rules for recognizing and measuring lease assets and liabilities.

Assessment:

The Certificate in IFRS by ACCA is assessed through a final exam. Learners must achieve a minimum of 50% in the final exam to receive the certificate.