Before we discuss the steps to become IFRS certified after 12th, let’s first review what the International Financial Reporting Standards (IFRS) are. The International Accounting Standards Board (IASB) is responsible for issuing these standards. They are a collection of accounting guidelines designed to make publicly traded companies’ financial reports clear, consistent, and simple to compare globally. Currently, more than 140 jurisdictions mandate IFRS Accounting Standards, and many more allow them.
IFRS is not only necessary but also required if you wish to work in accounting. It also creates the chance to migrate overseas or work for multinational corporations or global accounting KPOs. To provide for consistent reporting, the majority of nations are moving their standards closer to IFRS as it is. And that’s why there is an increasing demand for IFRS-certified professionals. Back to the question, can I do IFRS after 12th? Keep scrolling!
Why Should You Consider the IFRS Diploma after 12th
Having an IFRS diploma gives you an advantage in the job market by demonstrating that you possess a highly sought-after specialty expertise. Also, due to their specialized knowledge and abilities, those who are familiar with IFRS frequently make more money.
IFRS is used in various nations, which boosts career opportunities for people certified in it globally.
Additionally, the IFRS training helps you read and understand IFRS-based financial reports, which aids in decision-making and also allows you to network with people in your business.
How to Do IFRS after 12th: Step-wise Guide
Step 1: Complete 12th with Commerce Stream
Studying accounting, economics, business studies, and math is required to develop a solid functional understanding of IFRS. Strong foundations facilitate later understanding of IFRS.
Step 2: Enroll in a Graduation Program
Although most official certifications require students to advance to at least a graduation level or an associated commerce degree, learning about IFRS can start after the 12th grade. Programs that are suggested include:
- B.Com (Bachelor of Commerce)
- BBA in Finance
- BMS (Bachelor of Management Studies)
Step 3: Get Accounting Fundamentals
If you are making plans well in advance, consider taking short-term courses in financial accounting, examining textbooks on international accounting, and completing free courses on financial accounting before you reach the stage of enrolling in the course.
Step 4: Choose the IFRS Certification Course
Here are some of the most popular IFRS certifications:
IFRS Diploma from ACCA (UK)
- Qualifications: After graduating or earning an accounting degree (CA, CMA, or B.Com.) and gaining two or more years of work experience, one can consider an ACCA qualification.
- Duration: three to six months
- Exam: One three-hour paper, administered every two years
- Recognition: It is accepted by MNCs and the Big 4 without additional qualification.
ICAI (India) IFRS certificate
Students might target this group, which is mostly for CA members, following the CA finals. These are various online IFRS courses that introduce students to IFRS and its real-world applications. These are ideal for students pursuing a B.Com., CA, CMA, or ACCA.
Step 5: Enroll in the Institute
You need to sign up for a reputable IFRS institute like Mirchawala to excel in the IFRS-related topics. Study the international accounting standards and IFRS modules. For thorough exam preparation, the institute also offers MCQs and previous papers.
Step 6: Pass the IFRS Exam and Obtain Certification
Through continuous preparation, you can pass the exam and obtain the IFRS certification, which will help you in shaping your career in international finance.
Acquiring the IFRS diploma opens up a world of professional growth. Candidates who hold an understanding of international standards get better pay, global-level job titles, and more.
Bottom Line
If you are thinking of doing an IFRS course after 12th, you can rely on Mirchawala’s comprehensive IFRS training course and master worldwide financial standards. The course provides excellent, targeted coaching and is committed to understanding each student’s unique needs. By mastering these global standards, you can improve your financial interpretation abilities, open up exciting professional opportunities, and gain an edge when applying for jobs. Contact us now to know more about the IFRS course!
Frequently Asked Questions (FAQs)
Q: Can I do IFRS after 12th?
Ans: Unfortunately, no. The majority of IFRS certifications require either a degree or appropriate job experience. However, it would be wise to begin studying IFRS topics immediately following the 12th grade in order to prepare ahead of time.
Q: What is the scope of a diploma in IFRS?
Ans: For financial professionals working for multinational corporations, particularly in areas where IFRS adoption or convergence is occurring, a diploma in IFRS is beneficial.
Q: What are the requirements for an IFRS diploma?
Ans: You should have a relevant degree or accounting experience to enroll in an IFRs course; however, some positions could require prior certifications like CA or ACCA.
