DipIFRS vs CertIFRS
IFRS is short form of International Financial Reporting Standards. It is derivative from the pronouncements of the London-based International Accounting Standards Board (IASB). It is right now, the mandatory accounting framework across 150+ countries.
The ACCA certification program on IFRS is for the finance professionals who wish to have a knowledge and understanding of International Financial Standards. It increases the employability of students by opening the doors of global opportunities as IFRS is mandatory compliance in more than 150 nations across the globe.
IFRS CERTIFICATION VIS-À-VIS DIPLOMA IN IFRS
Eligibility: The eligibility criteria differ with whether a student wants to do a Certification or a Diploma
Certification: There is no strict eligibility for doing certification. Candidate should be 18+ and a candidate should have basic knowledge of accounting standards to pursue the certification program.
Diploma: Qualified Chartered Accountants working independently or in a set up are qualified to appear for DipIFRS examination.
If you are working, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:
- Two years' relevant accounting experience and a relevant degree or CERTIFR
- Three years' relevant accounting experience
- ACCA affiliate status or a Chartered Accountant
The table below illustrates the basic differences between a CertIFR and DIPIFR
|Exam location||Online||At Centre|
|Exam time||1 hour||3 hours 15 minutes|
|Fees||130 GBP||206 to 230 GBP|
|Type of exam||Open book||Proctored exam|
|Number of attempts||3||1|
|Preferred study material||N/A||BPP books|
|Exam results||Immediate on completion||~ 45 days|
|Enrollment criteria||Anyone||CA or anyone with 3 years of experience in finance|
|Recognition with recruiters||Poor as its an easy exam, usually taken by students undergoing graduation||Extremely high|
Eduyush Recommendation : Diploma in IFRS, as its a written exam, makes you learn IFRS in-depth, and is more recruiter friendly.
SCOPE AND BENEFITS OF STUDYING DIPLOMA IN IFRS
IFRS has scope in industries like IT, ITES, Software, Pharmaceutical, Automobile & Spare Parts, Professional Advisory Companies, Auditing Firms, Banking Industry, BPO, Insurance, KPIs, etc.
- Skilled and experienced IFRS experts with thorough knowledge can launch their own financial consultancies to help companies migrate to IFRS
- Hands-on knowledge of these worldwide principles and standards will open doors across the globe as more than 150 countries are using.
- Using and applying accurately these standards is considerably complex process and is time-consuming as well which underlines the importance of IFRS professionals
- Continuous modifications in these standards by regulators is all the more generating a requirement for IFRS professionals with an exhaustive understanding of these standards
- Hence, there is a huge need to train professionals about IFRS in India in order to get prepared for IFRS convergence.
Not only would IFRS be a world-class qualification, but also a great professional advantage to have global skills, broader & essential knowledge. It gets an A+ on your resume, a greater recognition and better prospects.
Completing Diploma in IFRS is definitely the best thing to do and not just the Certification!
If you would like to start your Diploma in IFRS journey, please call us at +919643308079 or click here to learn more