Financial adherence is primary for any type of organization, irrespective of their industry or geography. It helps the stakeholders and management to analyze and take data driven decisions. With globalization and open markets, the need for standardization of accounting principles was inevitable. The standards that have global acceptance are the International Financial Reporting Standards (IFRS) which makes IFRS Training and Certification the need of the hour.
IFRS has been accepted by more than 130 countries as the basis for maintaining the books of accounts and preparation of financial statements of large companies. What is special about IFRS that it is so popular and preferred? The answer can be given in three words; accountability, transparency and efficiency. The core purpose of IFRS is to maintain consistency in accounting practices. When companies follow these standards it is easy for them to invite foreign investment. This is because IFRS is a global accounting and financial reporting language acceptable across multiple countries. When a foreign investor wants to invest and you have accounts that represent your company’s financial position on a widely accepted basis, they are able to better connect with your presentations, which increases investor confidence. The standards are so designed that your financial transactions are easy to understand and cross verify, which makes it transparent. And when you are able give confidence to your potential investors through transparency of the transactions, they have a good basis to take data driven decisions.
The core purpose of IFRS is to create consistency in financial statements along with transparency and reliability. IFRS do undergo updates as and when the market demands and these updates are published by the International Accounting Standards Board (IASB).
Our core focus at Square Mile Global Consulting is to help you achieve excellence in preparation and analysis of IFRS financial statements. Our founder and accounting expert, Saket Modi is the authorized professional to train people on these standards. Saket has also conducted IFRS sessions for the American Institute of Certified Public Accountants (AICPA), Institute of Chartered Accountants in England and Wales, Institute of Internal Auditors (IIA), Institute of Chartered Accountants of India (ICAI), Bombay Chartered Accountants’ Society (BCAS) and Chartered Institute of Management Accountants (CIMA). His experience gives him an edge to design courses and make it available to students, professionals, businessmen and all interested learners. Though we cover all aspects of IFRS, our core focus is on six courses which includes:
- Certificate in IFRS
- IFRS 9 Financial Instruments
- IFRS 9 Derivatives and Hedge Accounting
- Oil & Gas Accounting in IFRS
- IFRS 16 Leases
- IFRS 17 Insurance Contracts
You can explore these courses on our website https://smglobal.co.uk/courses-for-international-financial-reporting-standards/.
Each course that we offer has unique content and includes extensive examples and real-life case studies. These courses are very useful for professionals in finance fraternity from top management to newly recruited graduates and professionals. The ambitious graduates and established accounting professionals all have something to take away from enhancing their technical accounting skills and gaining an edge in the professional world.
IFRS is the future of accounting and financial analysis. With the increasing digital significance and virtual world interactions and transactions, IFRS has principles and practices which supports better presentation of your financial performance, financial position and cash flows.
You can read our blog on COVID-19 at https://smglobal.co.uk/impact-of-covid-19-on-financial-statements/.
For updates on the IFRS Training & Certification, standards, upcoming virtual sessions schedule, webinars that we are conducting and blogs that will give you insights on different IFRS principles, follow our social media pages.