As more audiences are attracted to the IFRS course, which is one of the top sought-after skills in the modern financial sector, students become increasingly curious about essential details, such as the IFRS course duration, syllabus, and key focus areas.
In today’s blog, we will discuss the IFRS course duration depending on the type of course you are opting for. This will enable aspirants to select the course or diploma that aligns with their academic timeline.
The International Financial Reporting Standards IFRS certification timeline can vary depending on various factors such as the learning format, depth of curriculum, study pattern, learning route, and much more. Some are short courses that consist of a generic overview and basic international reporting skills. While others are comprehensive courses focusing on all the key areas and skills required to give exceptional performance practically. Some aspirants opt for quick/short courses while others prefer comprehensive diplomas, depending on their needs and goals.
Want to get more clarity about the IFRS course duration? Want an exact IFRS certification timeline to plan your route? Here is all the information that can help you in the process.
Types of IFRS Courses and Their Duration:
There are four main study routes to equip yourself with IFRS knowledge and skills; each route has a visible difference in duration of course completion.
1. Short Courses and Workshops:
IFRS workshops and short courses are getting the limelight in the finance and accounting sectors, as students as well as professionals actively participate in such quick courses or workshops to enhance their skills and stay updated with any changes or trends. The short IFRS course duration is typically between 1 day and 1 week; this course is designed in a way that it covers the introduction of IFRS and fundamental standards. These courses are ideal for professionals or students who need an overview to polish their skills and refresh their knowledge in this area.
2. Comprehensive IFRS Courses:
Comprehensive IFRS courses are available both online and in person; these courses provide in-depth, comprehensive knowledge about all the reporting standards, their practical application, and examine students’ knowledge through case studies. The comprehensive IFRS course duration can fall between 4 and 12 weeks; it may involve weekly sessions with assignments and exams to assess your progress in the area of focus.
3. Certified IFRS Specialist:
A Certified IFRS specialist is a professional formal certification; preferred by students of in-depth qualifications like ACCA, ICAEW, and IFRS, as these qualifications require aspirants to focus on International Financial Reporting Standards skills and practices. The IFRS standards are covered more comprehensively in these courses, as well as enhancing the worth of your academic profile. Usually, this professional certification can take a duration of around 3 to 6 months to complete and can be availed as a part-time study route.
4. Master’s Degree or Diploma in Finance/Accounting with IFRS Focus:
As the importance of International Financial Reporting Standards is significantly growing in the global market, aspirants are also preferring degrees and qualifications with an IFRS focus to stay competent and have strong expertise in this area. This route is ideal for those professionals or aspirants who aim to build their career in IFRS roles and require extensive knowledge in this area. The IFRS course duration (master’s or diploma) can be between 1 and 2 years; the curriculum is broader compared to the other courses. It completely concentrates on IFRS standards, their application, and has IFRS modules.
Key Factors Influencing IFRS Course Duration:
Want to know what influences the IFRS course durations? Course duration can be reduced or extended depending on multiple factors; mainly, the reasons behind it are the course format and level of expertise.
IFRS courses allow aspirants to follow multiple learning formats, such as online and onsite pathways. Comparatively, the IFRS course duration opted online is less than the onsite courses, as online learning gives leverage to the student to study at their own pace and according to their preferences.
Other than that, the level of expertise a professional or student already has also influences the duration of completion of the course.
Conclusion:
Therefore, the IFRS course duration can highly differ from person to person, depending on the type of course they are opting for. If they are pursuing short courses or workshops, the duration is brief and concise; these courses can be completed within a week. While comprehensive IFRS courses are in-depth and can take around 4-12 weeks to complete, on the other hand, courses like Certified IFRS Specialist can take around 3-6 months. Lastly, the master’s degree or a diploma in IFRS can take you the longest; it can be completed in a year or two.
Frequently Asked Questions (FAQs)
Q1. Who should take an IFRS course in the modern era?
Ans: In the modern era’s financial sector, IFRS skills have become extremely crucial; therefore, finance professionals and aspirants should take this course to enhance their skills. To be more specific, professionals who aim to work in accounting, auditing, finance, financial reporting, and taxation should especially take this course.
Q2. What are the benefits of becoming an expert in IFRS?
Ans: The benefits of enhancing your IFRS expertise are as follows:
- increased career prospects
- opportunity to work with global businesses
- transparency, accuracy, and credibility in work.
- Competitive edge in the global job market
Q3. Are there any online institutes offering IFRS courses?
Ans: Yes, many global institutes offering accounting and finance courses online also offer IFRS courses and training. These institutes are quite flexible, feasible, and ensure that the quality of education is not compromised; the best example of such an institute is Mirchawala’s Hub of Accountancy.
