IFRS certification requires accounting education and knowledge in IFRS. Tips include finding a reputable organization, selecting a specific area of focus, and earning a degree in accounting. The International Accounting Standards Board and the AICPA offer certification. Certification may have a specific focus or be general.
IFRS certification is usually a certificate from a third-party accounting organization that indicates an individual is especially knowledgeable in IFRS. The best tips for getting IFRS certified include earning a degree in accounting with an emphasis on IFRS, finding an accounting organization that offers IFRS certification, and selecting certification for a specific area of IFRS. Not all certifications are created equal, especially as IFRS is still new in some countries and in other applications. Individuals may also not have the necessary background to obtain this certification, which can also be a hindrance in some cases. The country in which an accountant lives can also make it difficult for an individual to obtain certification if it is not currently available.
Most accounting certifications require a certain amount of accounting education to qualify. An individual will likely need a four-year accounting degree, although a two-year degree may qualify in some cases. Individuals should contact the organizations that issue the IFRS certification to find out which grade meets the certificate or license requirements. Furthermore, the content of the diploma can also play an important role in preparing an individual for IFRS certification. While IFRS-centric content is best, other content areas can also help an individual prepare for the certification exam.
Not all accounting organizations can offer IFRS certification, national or international. The International Accounting Standards Board – the agency responsible for creating and governing the IFRS – can offer recommendations for IFRS certification. The American Institute of Certified Public Accountants (AICPA) – the agency that administers the CPA license – offers certification for IFRS purposes. An individual seeking certification can start with the AICPA and find other reputable organizations that offer certification. Other non-professional certifications may also be available, although they are generally less prestigious than the official certification.
Like any set of national accounting standards, IFRS is a broad and comprehensive set of guidelines. Therefore, IFRS certification may have a specific focus on content areas such as inventory, revenue recognition or others. An individual seeking this certification can select a focus that suits their IFRS background. This allows the individual to tailor a career in one or more areas of IFRS accounting. Other times, the certification may be entirely general, similar to the CPA degree; this provides the best opportunity for an individual to enter the IFRS accounting industry.
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