CertIFR Course Outline
The Certificate in International Financial Reporting Standards (CertIFR) by the Association of Chartered Certified Accountants (ACCA) provides a solid foundation for individuals looking to grasp the core principles of International Financial Reporting Standards.
This course is tailored for beginners and intermediate-level finance professionals, helping them understand the basics of IFRS and its application in preparing financial statements. The certificate program offers practical insights into key standards, enabling participants to enhance their financial reporting skills and improve their career prospects in accounting roles.
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Recognitions
WingsWay Training Institute, a globally recognised and trusted training centre, ensures you receive top-quality education and recognition for your efforts. Our commitment to delivering exceptional private education in Dubai has earned us the endorsement of the Knowledge and Human Development Authority (KHDA) and ISO 9001:2015 certification from the International Accreditation Forum (IAF).
Furthermore, WingsWay Training Institute proudly received the title of ‘Best Training Institute’ twice and the ‘Outstanding Organisation Award.’ Our services and training quality have not only been recognised by students in over 80 countries but also by top international organisations.
Learner’s Profile
This course is suitable for:
- Finance and accounting professionals at the beginner or intermediate level.
- Individuals transitioning to finance roles requiring IFRS knowledge.
- Students pursuing careers in accounting and financial reporting.
Career Oppotunities
After completing the IFRS certificate course with WingsWay Training Institute, you can venture into the following careers:
- Junior Accountant
- Financial Reporting Assistant
- Accounting Clerk
- Finance Trainee
Key Topics
- The nature and operations of the IASB
- The status and use of IFRS standards around the world
- Revenue, presentation and profit
- Accounting for non-current assets
- Accounting for assets, impairments and grants
- Accounting for leases and specialised assets
- Accounting for financial instruments
- Accounting for liabilities
- Group accounting – Consolidation
- Disclosure and other Standards
- Principal differences between IFRS Standards and UK GAAP
- Current issues in IFRS Standards
Course Duration
20 hours
Entry Qualification
- A basic understanding of accounting principles
- No prior professional experience required (ideal for beginners)
- High school diploma or equivalent qualification
Course Content
Unit 1 – The nature and operations of the IASB
- The origins of the International Accounting Standards Board (IASB®, ‘the Board’)
- The structure of the IFRS Foundation
- International Accounting Standards (IAS® Standards), and International Financial Reporting Standards (IFRS® Standards) that are currently in issue
- The purpose of financial statements – The Conceptual Framework for Financial Reporting.
Unit 2 – The status and use of IFRS standards around the world
- A brief summary of the adoption of International Financial Reporting Standards (IFRS® Standards) in different jurisdictions
- The growth of the International Accounting Standards Board (IASB®, ‘the Board’) and IFRS Standards
- IFRS Standards and small and medium-sized entities.
Unit 3 – Revenue, 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.
Unit 4 – Accounting for non-current assets
- IAS 16 Property, Plant and Equipment
- IAS 40 Investment Property
- IAS 23 Borrowing Costs
- IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
Unit 5 – Accounting for assets, impairments and grants
- IAS 38 Intangible Assets
- IAS 36 Impairment of Assets
- IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
- IAS 2 Inventories
Unit 6 – Accounting for leases and specialised assets
- IFRS 16 Leases
- IAS 41 Agriculture
- IFRS 5 Exploration and Evaluation of Mineral Resources
Unit 7 – Accounting for financial instruments
- IAS 32 Financial Instruments: Presentation
- IFRS 9 Financial Instruments
- IFRS 7 Financial Instruments: Disclosures
- IFRS 13 Fair Value Measurement
- IFRS 4 and IFRS 17 Insurance Contracts
Unit 8 – Accounting for liabilities
- IAS 37 Provisions, Contingent Liabilities and Contingent Assets
- IAS 19 Employee Benefits
- IAS 12 Income Taxes
- IFRS 2 Share-based Payment
Unit 9 – Group accounting – part 1
- IFRS 10 Consolidated Financial Statements
- IAS 27 Separate Financial Statements
- IFRS 3 Business Combinations
Unit 10 – Group accounting – part 2
- IFRS 11 Joint Arrangements
- IAS 28 Investments in Associates and Joint Ventures
- 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
Unit 11 – Disclosure and other Standards
- IAS 7 Statement of Cash Flows
- IFRS 8 Operating Segments
- IAS 24 Related Party Disclosures
- IAS 33 Earnings Per Share
- IAS 34 Interim Financial Reporting
- IAS 10 Events after the Reporting Period
- IFRS 1 First-time Adoption of IFRS
Unit 12 – Principal differences between IFRS Standards and UK GAAP
Unit 13 – Current issues in IFRS Standards
- Convergence of IFRS Standards with US GAAP
- Convergence of IFRS Standards with UK GAAP
- The work plan of the International Accounting Standards Board
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