Introduction: Accounting is the backbone of the business financial world. The aim of financial reporting is to understand the business through the numbers and facts. Worldwide accounting practice was highly diverse and meaningfully comparing financial statements of entities located in different countries was very difficult. Considering the increasing trend of globalisation across the world, harmonisation in the accounting was necessary. International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board. In simple words IFRS are a set of accounting rules for how information should be gathered and presented in financial reports. They constitute a standardised way of describing the company's financial performance and position so that company  financial statements  are understandable and comparable across international boundaries. They are particularly relevant f...

  Are you looking to advance your accounting skills? If the mastering global language of accounting is your goal, IFRS is your gateway into the realm of International Financial Reporting Standards. Its comprehensive syllabus prepares you for knowledge and expertise in international accounting practices, whether you aim to enhance your career or want to grab international work opportunities. ACCA, UK offers certification of diploma in IFRS, this qualification is designed to meet varying levels of expertise and career goals in the field of accounting. IFRS Exam Pattern  The IFRS exam is a challenging assessment designed to aim to evaluate your expertise in International Financial Reporting standards. (IFRS) Conducted as a computer test, duration is 3 hours and 15 minutes. The exam features 4 subjective format questions that challenge your ability to apply IFRS principles to real-world scenarios.   This comprehensive approach ensures candidates are well-prepared ...

  International Financial Reporting Standards (IFRS) are global rules of finance to prepare and present statements. These standards ensure consistency in accounting procedures, which facilitates the understanding and comparison of financial accounts across national boundaries.    IFRS was designed by the International Accounting Standards Board in 2003 and is accepted by over 168 countries worldwide. IFRS has become the worldwide standard for accounting over time.   In this article, we will learn more about the impact, and benefits of IFRS. The Purpose of International Accounting Standards Well, today is the age of the Global economy where capital flow and cross-border transactions are very important. Presently, one in three transactions are international and that proportion is only going to increase. Companies regularly raise capital, do business abroad, or have investments across the world and investors are looking to invest globally more ...

  What is and why IFRS? International Financial Reporting Standards (IFRS) : IFRS is a financial reporting framework that is reliable, transparent, and can be comparable across the other companies around the globe. Prior to IFRS, every country had different Generally Accepted Accounting Principles (GAAP) i.e., financial reporting framework for businesses in their own country. With globalization, it was becoming difficult to undertake cross border transactions, investments, raise funds etc. because it was difficult to understand financial statements prepared in different GAAP. To bring harmony in the accounting language and bring ease in doing business internationally, the International Accounting Standards Committee (IASC) was established in the year 1973 and started developing the International Accounting Standards (IAS). They formulated IAS 1 to 41 and SICs. However, their work was not spread and was not used by the companies across globe. The structure of IASC was required to be...

  As a part of our continuous efforts to support our students, we conduct two online ‘Query Resolution Sessions’ prior to every  ACCA DipIFR examination attempt . The objective of these sessions is to discuss and clear technical doubts with respect to the Diploma IFRS examination and assist every student to make their DipIFR learning experience easy and hassle-free. Based on past experience, students benefit from the sessions as follows: a. A platform is provided for students to actively discuss their technical doubts and clear their conceptual queries. b. Comprehensive understanding of the syllabus and the exam pattern. c. Assistance in better preparation for the examination Interested students are required to  register  on the link provided over email. Prior registration is mandatory for attending the sessions. These sessions are part of the study/course package and hence, no extra charges are levied. Topics for the respective query sessions as below: Topics for Se...

  Why ACCA DipIFR : More than 140 countries require or permit the use of International Financial Reporting Standards for their select class of companies. India has also mandated certain class of companies to follow Ind AS (converged with International Financial Reporting Standards) for financial reporting purpose. The companies are currently focussing on recruiting the employees who have knowledge of Ind AS and other global financial reporting standards. Accordingly, the demand for professionals with knowledge in Global Financial Reporting Standards / Ind AS is increasing at rapid pace. DipIFR is an international qualification in International Financial Reporting Standards accredited by the leading professional accounting organization – ACCA which is based in UK.  DipIFR course  is designed to develop working knowledge on International Financial Reporting Standards, providing an in-depth understanding of the concepts and principles and their practical application. On Comp...

A. Background: In recent times, many companies have chosen to raise money by issuing convertible instruments. A convertible instrument is a hybrid instrument that offers investors the option to  redeem the security for cash  at the end of (or during) its term  or convert it to equity shares  of the entity. Convertible instruments generally offer lower interest rates (because of the additional consideration by way of conversion option) than comparable conventional instruments, making them a cost-effective way for the entity to raise money. Convertible instruments are typically issued by companies that have high growth expectations and relatively lower credit ratings. The companies get access to money for expansion at a lower cost than they would have to pay for conventional instruments. Investors, in turn, get the flexibility of turning their convertible instruments into cash or equity shares of the entity. Examples of convertible instruments are optionally convertibl...