IFRS Training Program (VILT)

Elevate your IFRS journey: equipping you for global financial reporting

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About the course

The program is specifically designed for finance professionals and students who are keen to learn and implement International Financial Reporting Standards (IFRS). It offers a comprehensive preparation for the ACCA’s Diploma in IFRS (DipIFRS) exam.

This training program is meticulously crafted to ensure thorough coverage of all relevant topics, incorporating interactive discussions and practical insights to facilitate a deeper understanding of the subject matter. Throughout the program, participants will engage in practice questions and experience-sharing sessions, which are crucial for reinforcing their knowledge and skills.  A key feature of the program is its focus on practical application. This practical approach ensures that they can confidently implement IFRS requirements within their organizations, addressing various financial reporting challenges that may arise.

 The interactive nature of the sessions encourages active participation, allowing participants to clarify doubts and engage in meaningful discussions with peers and instructors. This collaborative learning environment enhances their ability to make informed decisions based on IFRS principles. Moreover, the program is designed to build decision-making capabilities by providing participants with numerous opportunities to apply their knowledge in simulated business situations. This experiential learning approach helps in bridging the gap between theoretical knowledge and practical application, making the learning process more effective and relevant.

Objective of ACCA’s Diploma in IFRS

On successful completion of the course, candidates should be able to:

  • Understand and explain the structure of the framework of IFRS
  • Apply relevant financial reporting standards to key elements of financial reports
  • Identify and apply disclosure requirements for companies in financial reports and notes
  • Prepare group financial statements including subsidiaries, associates and joint ventures 

Who should attend? 

  • Chartered Accountants, Company Secretaries, management accountants and other finance professionals
  • Accountants, finance managers, Chief Accountants
  • Private equity and M&A professionals
  • MBA finance working in accounting domain
  • Semi qualified- CA, CS, management accountants working in accounting domain
  • Any student/ professional keen to upskill themselves in the IFRS domain

Why EY’s IFRS training program?

  • Theory meets practice in every session, making learning truly insightful and applicable
  • The program will encompass the recently introduced standards, specifically IFRS 18 – Presentation and Disclosure in Financial Statements and IFRS 19 – Subsidiaries without Public Accountability
  • Interactive sessions on the implementation of key sustainability standards and metrics
  • Sessions will be delivered by industry experts and senior professionals from member firms of EY
  • Global best practices and perspectives shared during the workshops would provide a holistic understanding of the industry challenges related to the transition to IFRS
  • Detailed coverage of differences between IFRS and Ind-AS
  • Upon successful completion of a comprehensive evaluation process, all the participants will be awarded an IFRS Certificate of Completion by EY

ACCA’s Diploma in IFRS examination

Diploma in IFRS examinations are held twice every year in June and December. The program is designed and owned by ACCA, and its examination is also conducted by ACCA. EY or its personnel have no role in the conduct or outcome of the Diploma in IFRS examinations.

Examination centres are in many major cities across the globe. Participants who wish to sit for the exam conducted by ACCA would need to additionally pay the exam fee directly to ACCA. For additional information on ACCA or Diploma in IFRS please visit www.accaglobal.com

DipIFR will be examined by a single three-hour-15-minute computer-based exam, which is held twice a year in June and December at ACCA’s exam centres, including in India. The pass percentage for the exam is 50%.

The exam contains a mix of computational and opinion-based questions. Some questions adopt a scenario/case study approach. The assessment will be held at various centres globally.

Successful candidates shall be awarded a ‘Diploma in International Financial Reporting’ by ACCA.

We will assist all the participants with the registration process for the DipIFR exam conducted by ACCA through a step-by-step guidance process. To apply for the exam the participants will be required to visit the ACCA Global website and complete their application/documentation process. The acceptance/rejection of the application resides solely with ACCA.

Eligibility for registering with ACCA for Diploma in IFRS examination

The EY IFRS course can be attended by graduates with accounting background. However, to register for the ACCA’s Diploma in IFRS program, the eligibility criteria are as follow:

  • If you are a professional accountant or auditor who works in practice or business, and are qualified according to national accounting standards, then you are eligible to take this ACCA financial reporting qualification.
  • If you are working professional, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:
  • three years’ relevant accounting experience (by submitting a letter from your employer).
  • a relevant degree plus two years’ work experience.
  • an ACCA Certificate in International Financial Reporting plus two years’ work experience. 

Program Coverage (Standards Covered)

  IFRS         

Ind-AS

Details

IAS 1

Ind-AS 1

Presentation of financial statements

IAS 8

Ind-AS 8

Accounting policies, changes in accounting estimates and errors

IAS 12

Ind-AS 12

Income taxes

IAS 16

Ind-AS 16

Property, plant and equipment

IAS 19

Ind-AS 19

Employee benefits

IAS 20

Ind-AS 20

Accounting for government grants and disclosure of government assistance

IAS 21

Ind-AS 21

The effects of changes in foreign exchange rates

IAS 23

Ind-AS 23

Borrowing costs

IAS 27

Ind-AS 27

Separate financial statements

 IAS 28

Ind-AS 28

Investments in associates and joint ventures

IAS 32

  Ind-AS 32

Financial instruments: presentation

IAS 33

Ind-AS 33

Earnings per share

IAS 36

Ind-AS 36

Impairment of assets

IAS 37

Ind-AS 37

Provisions, contingent liabilities and contingent assets

IAS 38

Ind-AS 38

Intangible assets

IFRS 1

Ind-AS 101

First-time adoption of international financial reporting standards

IFRS 2

  Ind-AS 102

  Share-based payment

IFRS 3

Ind-AS 103

Business combinations

IFRS 5

Ind-AS 105

Non-current assets held for sale and discontinued operations

IFRS 7

  Ind-AS 107

Financial instruments: disclosures

IFRS 9

Ind-AS 109

Financial instruments

IFRS 10

  Ind-AS 110

Consolidated financial statements

IFRS 11

Ind-AS 111

Joint arrangements

IFRS 15

Ind-AS 115

Revenue from contract with customers

IFRS 16

Ind-AS 116

 Leases

IAS 2

Ind-AS 2

Inventories

IAS 10

Ind-AS 10

Events after the reporting period

IAS 24

  Ind-AS 24

Related party disclosures

IAS 34

Ind-AS 34

Interim financial reporting 

  IAS 40

Ind-AS 40

Investment property

IAS 41

Ind-AS 41

Agriculture

IFRS 8

Ind-AS 108

Operating segments

IFRS 13

Ind-AS 113

Fair value measurement

Recently Introduced IFRS

IFRS 18

Presentation and disclosure in financial statements 

IFRS 19

Subsidiaries without public accountability

IFRS S1

Sustainability-related financial disclosures 

IFRS S2

Climate-related disclosures

Program deliverables

  • Virtual instructor led training of 70 hours through MS Teams
    - 14 sessions of 5 hours each (VILT)
  • Real time doubt solving through live interaction
  • BPP hard copy learning material –study text and revision kit, an ACCA approved content provider
  • EY presentations and publications
  • Access to EY Virtual Academy

Certificate

EY will award “Certificate of Participation” to those who secure more than 80% and above attendance in the live online sessions.

EY will award “Certificate of Completion” to participants who meet both the below criteria:

  • Attendance of 80% and above in the live online sessions.
  • Secure 75% and above in the MCQs based EY IFRS Assessment. 

Assessment will be of one hour comprising of 30 MCQ. Each participant will get three attempts. The assessment will be live for a week after the completion of the session.

Schedule 

Sessions to be conducted every Sunday

Batch starting from: Sunday, 12th January, 2025

Timings: 9:00 AM to 2:00 PM (IST)

Program Fee 

INR23,000/- plus taxes for Indian participants

US$350 for international participants

Contact

For more information contact:

Shweta Manchanda

E-mail: Shweta.manchanda@in.ey.com 

M: + 91 9811638456




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