IFRS (International Financial Reporting Standards) are guides that define unified accounting financial statements such as financial statements including the concepts of capital and its maintenance and determination of profit.
IFRS is now widely used in many countries because of its long term benefits like cost reduction in investments but with increase in profit.
IFRS course is simply a certification that helps develop the following skills of licensed accounting professionals such as:
1. Advancement in knowledge regarding accounting concepts based on IFRS.
2. Capability to understand and interpret the published financial statements.
3. Competence in decision making derived from the gathered financial information.
4. Knowledge in transitioning the financial reports based on the standards provided by the IFRS.
5. Elevate the credibility in offering accounting professions.
For those who want to enhance their career you may enrol in institutions that specifically offers this kind of course. While some institutions require you to pursue this in a classroom setting, others offer it as an e-learning wherein you will be instructed and guided through the internet during the course.
What to consider before signing up for an e-learning IFRS Course?
Since there are many online websites that offer IFRS course, it is always better to evaluate the subjects included in the IFRS course so that you will get the worth of your money. First, the IFRS course it must include programs like IFRS conceptual frameworks; requirements, disclosures, procedures and accounting changes in financial statements; joint ventures; tax effects and use of foreign exchanges; leasing; revenue and income taxes to name a few. Second, look for reviews of satisfied customers if they experienced practical learning including applicability to your chosen career.
Lastly, the course must be valuable. Every penny spent should earn back if not quickly but at least gain revenue from the techniques and information learned during the course. In addition, experts in IFRS courses are also one thing to consider following the fact that expertise will provide you with tested not hypothetical techniques and information.
Seeing that IFRS course is now globally available, some institutions offer in-house service to cater other possible clients around the world. This kind of training is perfect for enterprises that wish to have effective group training.
Benefits of in-house IFRS course
1. Customized Training – Every company differ in many ways. When you consider doing in-house training for employees regarding IFRS, it will specifically focus on the issues that need attention. The time will not be wasted on issues that have no relevance to the present situation your company is coping up to.
2. Cost Effective – This time, you will not only delegate one or two employees to learn the standards in international financial reporting but may include all concerned individuals in your accounting department.
3. Convenient – Saved resources such as time and specifically money would mean fewer expenses. Although, cashing out money is one way when you want to improve the capability of your company to work better in terms of finances, it is still a big help when you can cut some expenses.