The Value of IFRS

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In the world of business, accounting—whose concepts can be applied to almost all job specialties—is a highly prized discipline. With the focus on the domain gaining in prominence, the career prospects of an accountant too have become brighter.

In addition, the emergence of International Financial Reporting Standards (IFRS) as a global yardstick for accounting standards has transformed financial markets—both across the world and in India. IFRS comprises a set of rules on how accounting events like transactions, etc., should be reported in financial statements. The objective behind these Standards is to bring in elements of credibility and transparency, which, in turn, help investors, among others, take informed financial decisions.

In this modern world where every individual is rapidly progressing towards a “one world” in accounting, auditing, and corporate governance, IFRS is now being considered as a mandatory requirement in the Corporate field. No wonder then, in an economy like India, whose financial markets have witnessed a phased implementation of IFRS, knowledge of these Standards is being treated as invaluable. In fact, majority of finance companies operating in India today have implemented IFRS in their workplace.

So, whether you are an established CA, an accountant, or someone who dreams of a career in accounting, to keep pace with the changes in global reporting & accounting standards, you need to be proficient in the practice of IFRS.

And if you are looking for a training program on IFRS, Career Launcher offers a 4-month course, the details of which you can find here.

Trupti Patil
FinSchool Product Lead, Career Launcher

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