Check out Certificate Course in IFRS

Q.I have enrolled for CA programme while doing my BCom. I will be re-appearing for the IPCC exam for the second time soon. Since I’ve already completed my graduation, I have some time to spare. Could you please suggest a short-term but relevant course that can benefit me — both as a CA and in the broader field of accounting and finance? I’m not earning at present, so suggest something that’s not very expensive. — Paras Dabral

A.Here’s one option that comes to mind. I suggest you check out the Certification in International Financial Reporting Standards (IFRS) which prepares you for one of most sought after skills in the field of Accounting.

Let me explain why. IFRS are accounting standards and principles set by the International Accounting Standard Board (IASB) that are now becoming the global standards for preparing financial statements.

Most countries are converging their standards towards IFRS or adopting IFRS wholesale, to facilitate uniform reporting. In a step closer to convergence with the IFRS, India, has adopted Ind-AS.

But that said, the application of these standards is a complex and time consuming procedure which underlines the significance of IFRS professionals.

Moreover, continuous amendments by the regulators to these standards require an army of IFRS professionals who are equipped with thorough understanding of these standards.

Practical knowledge of these universal standards will open doors across the globe as 100+ countries have green signaled these accounting standards.

You can work in various IFRS profiles across industry sectors including ITES, software, pharmaceutical, auto spare parts, professional advisory companies, auditing firms, banking, Insurance, KPOs, etc. Skilled and experienced IFRS experts can establish their own consulting practise to help companies migrate to IFRS.

The IFRS Certification programme will equip you to:

• Apply relevant financial reporting standards to key elements of financial reports.
• Identify and apply disclosure requirements for companies in their financial reports and notes to accounts.
• Prepare group financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint arrangements.

Among others, the IMS Proschool along with National Stock Exchange (NSE India) (the country’s largest Certification body in Finance) offers training program on IFRS via classroom as well as distance learning mode.

After completing the IFRS certification programme, you can get an additional certification in Ind-AS and 15 hours of training for Dip IFRS (ACCA) at no additional cost.

Plus you can attempt the Cert IFRS exam (ACCA) without any further coaching. Details: ww.proschoolonline.com/ifrs-certificate-course

The cost of the course is about Rs 30,000 (and a third less for the online version).

How can I become a certified valuer?

Q.I am a civil engineer. Can you explain the procedure for becoming a certified valuer? — Arnav Dhiman 

A.As per the Central Government’s latest Companies (Removal of Difficulties) all valuations from April 1, 2018 onwards must be done by a valuer who is registered with the Insolvency Bankruptcy Board of India (IBBI) 

Besides possessing the necessary qualification and experience, you must be enrolled as a valuer member with a Registered Valuer Organisation (RVO), complete their (approx. 50-hour) course, and pass IBB’s valuation exam.

Those presently rendering valuation services can continue to do so without a certificate of registration up to 31 March, 2018.

Registered valuers can conduct valuations under any other law, if required / permitted under that law or the concerned authority.

For this purpose IBBI has formulated the course syllabus and recognised two RVOs: (a) The Institution of Estate Managers & Appraisers in the Asset Class of Land & Building and

(b) The IOV Registered Valuers Foundation for (i) Land & Building (ii) Plant & Machinery, and (iii) Securities or Financial Assets.

For course details and syllabus of valuation exams,  log on to the IBBI website: www.ibbi.gov.in.