Taking one or a series of courses on the subject is one of the most common ways to become certified in International Financial Reporting Standards (IFRS). Certificate courses can last anywhere from a few days to several weeks, depending on the curriculum’s complexity. The requirements for earning a certificate differ depending on the country and the company offering the course. Overall, an effective course will introduce the fundamental concepts of the International Financial Reporting Standards (IFRS), provide opportunities to apply those concepts, and test the student to ensure comprehension.
The amount of education required for accounting professionals to become IFRS certified varies depending on their level of expertise and the differences in their current reporting method. Some courses provide an overview of the method, highlighting only the most important aspects. Other certificate programs include a variety of courses that delve deeper into the specific characteristics and challenges of the International Financial Reporting Standards (IFRS).
Although the method itself has firm guidelines, there have historically been no specific requirements outlined for accountants wishing to become IFRS certified. When determining whether a course will adequately prepare a professional to use IFRS, choosing courses offered by companies with a strong industry connection can be beneficial. This can include accountants’ professional organizations and companies with a financial connection. Getting recommendations from people who are already certified in the field can also help you figure out which courses are the most reputable.
Students can enroll in classroom, online, or a combination of classroom and online courses to become IFRS certified. In some cases, one course will suffice, while in others, a student may need to take several different courses to gain IFRS proficiency. After using the method for a while, a student may want to take an introductory course and then continue with more classes. This allows the student to focus on specific issues and questions that arise during the IFRS transition.
Before becoming IFRS certified, individuals who do not have extensive accounting experience or training may need to take courses that teach the basic principles of accounting. This is because, while most IFRS courses cover important aspects of using the method, they rarely provide an introduction to the accounting profession. The courses are typically designed for working financial professionals who are transitioning to the new method.