The ACCA IFRS diploma is an eight-day certification process for experienced accountants, covering advanced reporting procedures. It can lead to better job opportunities and higher pay, but is not necessary for most accountant positions. The course is often taken as a refresher and prepares accountants for international work.
The Association of Chartered Certified Accountants (ACCA) diploma for International Financial Reporting Standards (IFRS) is a certification process that usually takes eight days to complete. Obtaining an ACCA degree in IFRS is not suggested for new accountants; only those with general experience should seek this certification. An ACCA IFRS degree can help accountants get a better job or more money, but some existing jobs may require this certification to continue to function. This is normally not required, but certification can still be beneficial.
Although called a diploma, the ACCA IFRS diploma is more of a certification process. The course itself normally lasts eight days and the course work is divided into several modules, starting with presentations and ending with an official exam. Accountants usually have to pay to take this course and cannot be reimbursed by their employer, particularly if they fail the final test. In addition to the registration fee, there is usually an ACCA application fee. Course work involves advanced reporting procedures assigned to IFRS.
Accountants don’t need to qualify to take this course because they can take as long as they pay, but this isn’t really meant for accountants who are just starting out. Obtaining an ACCA degree in IFRS means more for accountants with at least several years of experience, because they should already be adept at the main principles of general accounting, so they can easily move on to more advanced knowledge. This course is sometimes taken as a refresher for seasoned practitioners because key IFRS reporting principles and skills are covered frequently throughout the course.
A typical motivation for accountants pursuing their ACCA IFRS degree is the desire for a better job, because many higher accounting positions require this certification. This can also be used to get more money at your current position, depending on the employer’s position on your value. Some companies will not pay accountants extra for obtaining this certification; they expect accountants to become certified so they can do their jobs better.
Most accountant positions outside of senior positions do not require an ACCA diploma in IFRS. In addition to the possibility of making more money, this certification is usually useful because it allows the accountant to perform more tasks and with a better understanding. This certification also prepares accountants to work internationally, which is often more useful than an accountant who can only perform domestic accounting.
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