Cert IFRS

ACCA: Certificate in International Financial Reporting Standards (Cert IFRS)

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. 

Primary 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.

Eligibility

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.

Syllabus

  • The nature and operations of the IASB
    • Structure of the IFRSF/IASB
    • Extant standards of the IASB
    • The framework
  • 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
  • Presentation and profit
    • IAS 1, Presentation of financial statements
    • IAS 18, Revenue
    • IAS 8, Accounting policies, changes in accounting estimates and errors
  • Asset recognition and measurement
    • 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
    • IAS 11, Construction contracts
    • IAS 17, Leases
    • IAS 32, Financial instruments - presentation
    • IAS 39, Financial instruments - recognition and measurement
    • IFRS 9 Financial instruments
    • IAS 41, Agriculture
    • IFRS 7, Financial instruments: disclosures
    • IFRS 6, Exploration for and evaluation of mineral resources
    • IFRS 5, Non-current assets held for sale and discontinued operations
  • Accounting for liabilities
    • 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
  • Group accounting
    • IAS 27, Consolidated financial statements and accounting for investment in subsidiaries
    • IFRS 3 Business Combinations
    • IAS 28, Accounting for investments in associates
    • IAS 31, Joint ventures
    • IAS 21, The effects of changes in foreign exchange rates
    • IAS 29, Financial reporting in hyperinflationary economies
  • 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
  • Principal differences between key national GAAP and IFRS
  • Proposals for change

Assessment

It is assessed by online multiple-choice assessment. It is only possible for candidates to take the multiple-choice assessment online and marking is also administered and conducted electronically. The score for the assessment will be available on screen for the candidate immediately after taking the assessment. The assessment is one hour long and there are 25 multiple choice questions. Passing marks are 50%.

Certificate

On successful completion of the exam, a certificate will be issued by Association of Chartered Certified Accountants UK (ACCA).

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).

Fees

Tuition Fee: RO 750 (which includes 3 exam attempts)
Duration: 6 months 
Next batch: Next batch will start from July 2017

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.

Whom to contact:

For further information please contact 
Mr. Ikram Ul Haq 
Director ACCA Programme
Tel: 24730461
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Get in Touch

  • Tel: +968 2473 0400
  • Email: info@majancollege.edu.om
  • Mutrah | Way No. 2621 | Building No. 1986
  • P.O Box: 710, P.C: 112 | Ruwi | Sultanate of Oman
  • Hotline: +968 8007 1000
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