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What is IFRS?

The International Financial Reporting Standards (IFRS) is a set of accounting standards that was designed to standardize financial reporting across companies operating in the global market. IFRS was first adopted in Europe, but due to the effect of globalization and increasing cross-border business activities soon spread to other parts of the world. By adopting the IFRS reporting language, companies can ensure consistency across their accounting procedures.  

The IFRS is applicable for organizations such as large private companies, public companies, multinational organizations, subsidiaries of foreign parent companies, and parent companies with international subsidiaries.

IFRS Training Courses

IFRS training courses range from introductory level for beginners, all the way through to advanced for the professional with a working knowledge of international reporting. IFRS training courses are available in classroom, on-site, and online training course formats. 

IFRS training courses on offer cater for both the professional wishing to stay up to date with the standards as well as the individual just getting started in this field. IFRS training courses prepare accounting and finance professionals for a future in international accounting and expand career opportunities globally. 

Upon successful completion of an IFRS training course, professionals will be able to apply the fundamental principles of IFRS across a range of accounting topics and obtain an understanding of complex IFRS areas including financial instruments and business combinations in addition to a broad overview of the key concepts and definitions. 

Who Should Take IFRS Training Courses?

Financial reporting is a critical function in any organization and individuals who wish to expand their skills to include IFRS have a wide range of training courses to choose from. Knowledge of international financial reporting standards is a core competency for audit professionals, accountants involved with financial reporting, and other finance professionals. IFRS training courses are well suited to those working in multinational organizations and public and large private companies. 

There are regular changes to the IFRS and companies need to incorporate these into their business in order to remain compliant. That means that individuals responsible and accountable for financial reporting have to take regular refresher training courses. Often this could be most effectively achieved by holding on-site training on the company's premises. 

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