Call us at:- +91-9958934646
Go

Create a free profile as



Sample Certificate

international-students
ifrspro.jpg

Certified IFRS Professional

Indian : Rs.5899
International : $95
INTRODUCTION

Vskills certification for IFRS Professional assesses the candidate as per the company’s need for reporting and complying with both IAS and IFRS reporting. The certification tests the candidates on various areas in IAS and IFRS standards.

WHY SHOULD ONE TAKE THIS CERTIFICATION?

This Course is intended for professionals and graduates wanting to excel in their chosen areas. It is also well suited for those who are already working and would like to take certification for further career progression. Earning Vskills IFRS Professional Certification can help candidate differentiate in today’s competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.

WHO WILL BENEFIT FROM TAKING THIS CERTIFICATION?

Job seekers looking to find employment in finance or accounting departments of various companies, students generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this certification.

COMPANIES THAT HIRE VSKILLS IFRS PROFESSIONAL

IFRS Professionals are in great demand. Companies specializing in consulting or finance are constantly hiring skilled IFRS Professionals. Various public and private companies also need IFRS Professionals for their finance or accounts departments.

CONTENT

Introduction

  • IASB structure
  • IFRS Standards
  • Abbreviations
  • IASB due process
  • List of IAS
  • IASB History
  • Use of IFRSs around the world

IAS 1

  • Objectives
  • Scope
  • Key Terms
  • Complete set of financial statements
  • General requirements of IAS 1
  • Statement of comprehensive income
  • Disclosure of accounting policies

IAS 2

  • Scope
  • Key Terms
  • Basis of valuation
  • Cost Measurement
  • Net realizable value
  • Expense recognition
  • Disclosures

IAS 7

  • Key terms
  • Presentation of a statement of cash flows
  • Noncash Transactions
  • Foreign Currency Cash Flows
  • Reporting Cash Flows on a Net Basis
  • Disclosures

IAS 8

  • Key terms
  • Selection and application of accounting policies
  • Consistency of accounting policies

IAS 10

  • Key Terms
  • Adjusting Events after the Reporting Period
  • Dividends
  • Going Concern

IAS 11

  • Key terms
  • Contract options
  • Contract revenue
  • Contract cost
  • Recognition of Revenue and Costs
  • Outcome of Construction Contract Can Be Estimated Reliably
  • Stage of Completion
  • Outcome of Construction Contract Cannot Be Estimated Reliably
  • Effect of Change in Estimate in Construction Contract
  • Disclosures

IAS 12

  • Key terms
  • Tax base
  • Recognition and measurement of current tax liabilities and current tax assets
  • Recognition of deferred tax liabilities and deferred tax assets
  • Accounting for deferred tax
  • Disclosures

IAS 16

  • Scope
  • Key terms
  • Recognition
  • Elements of cost
  • Measurement of cost
  • Measurement after recognition
  • Derecognition
  • Disclosures

IAS 17

  • Key terms
  • Classification of leases
  • Leases in the financial statement of lesees
  • Operating Leases
  • Leases in the financial statement of lessors

IAS 18

  • Scope
  • Key terms
  • Measurement of revenue
  • Identification of a transaction
  • Revenue on sale of goods
  • Revenue from rendering of services
  • Interest, royalties, and dividends
  • Disclosures

IAS 19

  • Scope
  • Key terms
  • Types of employee benefits
  • Short-term employee benefits
  • Postemployment benefit plans
  • Other long-term employee benefits
  • Termination Benefit

IAS 20

  • Key terms
  • Recognition of government grants
  • Presentation of grants related to assests
  • Presentation of grants related to income
  • Repayment of government grants

IAS 21

  • Scope
  • Key terms
  • Identification of functional currency
  • Net investment in a foreign operation

IAS 23

  • Key terms
  • Recognition
  • Borrowing costs eligible for capitalization
  • Commencement of capitalization
  • Suspension of capitalization
  • Cessation of capitalization

IAS 24

  • Key terms
  • Substance over form
  • Recent amendments to the standard

IAS 26

  • Scope
  • Key terms
  • Defined contribution plans vs. Defined benefit plans
  • Disclosures

IAS 27

  • Key terms
  • Presentation and scope of consolidated financial statements
  • Process of consolidation
  • Loss of control

IAS 29

  • Scope
  • Key terms
  • Restatement of financial statements
  • Restatement of comprehensive income
  • Statement of cash flows

IAS 32

  • Scope
  • Financial assets
  • Financial liabilities
  • Equity instruments
  • Presentation of liabilities and equity
  • Treasury shares
  • Purchased and written option to buy/sell own equity
  • Puttable instruments
  • Offsetting financial assets and liabilities
  • Interest, dividends, losses, and gains
  • Transaction cost of an equity issue

IAS 33

  • Scope
  • Key terms
  • Measurement
  • Diluted Earnings Per Share
  • Antidilution
  • Rights issue
  • Increasing rate preference shares
  • Presentation
  • Disclosures

IAS 34

  • Scope
  • Key terms
  • Contents of an interim financial report
  • Periods for which interim financial reports are required
  • Accounting policies
  • Measurement of interim financial report income tax expense

IAS 36

  • Scope
  • Exclusions
  • Key terms
  • Identification of assets that may be impaired
  • Calculation of recoverable amount
  • Calculation of fair value less costs to sell
  • Calculation of value in use
  • Selection of discount rate
  • Recognition of an impairment loss
  • Cash-generating units
  • Impairment of goodwill
  • Reversal of an impairment loss
  • Disclosures

IAS 37

  • Scope
  • Key terms

Recognition of a provision

  • Measurement of provisions
  • Remeasurement of provisions
  • Restructurings
  • Contingent liabilities
  • Contingent assets
  • Disclosures

IAS 38

  • Scope
  • Key terms
  • Intangible assets
  • Recognition
  • Initial measurement
  • Intangible assets with finite lives
  • Intangible assets with indefinite lives
  • Subsequent expenditure
  • Disclosures

IAS 39

  • Classification of financial assets
  • Financial asset or financial liability at fair value through profit or loss
  • Recognition principles
  • Measurement principles
  • Regular-way purchase or sale contract
  • Accounting for financial liabilities
  • Loan commitments
  • Financial guarantee
  • Derivatives
  • Reclassification
  • Impairment and uncollectibility of financial assets
  • Hedge accounting
  • Embedded derivatives

IAS 40

  • Key terms
  • Scope
  • Measurement of investment property
  • Transfers to and from investment property
  • Disposals
  • Disclosures
  • Fair value and cost model

IAS 41

  • Scope
  • Key terms
  • Recognition and measurement
  • Gains and losses
  • Government grants

IFRS 1

  • Scope
  • Key Terms
  • Exceptions to the first-time adoption rule
  • Opening IFRS statement of financial position
  • Adjustments required in preparing
  • Mandatory Exceptions
  • Presentation and disclosure

IFRS 2

  • Scope
  • Key Terms
  • Accounting for equity-settled share-based payments
  • Vesting
  • Accounting for cash-settled transactions
  • Accounting for transactions that can be settled through cash or issuance of shares
  • Disclosure

IFRS 3

  • Scope
  • Key Terms
  • Identifying a business combination
  • Date of Acquisition
  • Acquisition Method of Accounting
  • Recognizing Assets and Liabilities
  • Fair value of consideration
  • Measurement period
  • Disclosures

IFRS 4

  • Scope
  • Insurance contract
  • Contract that are not classified as insurance contracts
  • Embedded derivatives
  • Unbundling of deposits
  • Temporary exemption from application of IAS 8
  • Business Acquisitions
  • Deferred acquisition costs
  • Liability adequacy test
  • Change in accounting policies
  • Discretionary Participation Features
  • Disclosures

IFRS 5

  • Key Terms
  • Scope
  • When to reclassify
  • Assets held for sale
  • Disposal group assets
  • Discounted operations
  • Measurement of noncurrent assets held for sale or disposal group
  • Changes in classification of held for sale
  • Disclosures

IFRS 6

  • Selection and application of accounting policies
  • Key Terms
  • Accounting for E&E costs
  • Measurement after initial recognition and presentation
  • Impairment
  • Disclosures

IFRS 7

  • Scope
  • Significant accounting policies relating to financial instruments
  • Disclosures for Reclassification
  • Disclosures for de-recognition of financial assets
  • Collateral
  • Impairment allowance
  • Disclosures in the statement of comprehensive income
  • Hedge accounting disclosures
  • Disclosures in lieu of fair value disclosure
  • Fair value hierarchy-based disclosures
  • Risk disclosures
  • Liquidity risk disclosure through maturity analysis
  • Quantitative liquidity risk disclosures
  • Disclosure of market risk sensitivity analysis
  • Risk disclosures of insurance contracts

IFRS 8

  • Scope
  • Core principle
  • Chief operating decision maker (CODM)
  • Identifying segment using IFRS 8
  • Identifying operating segments
  • Reportable segments
  • Measurement of segment information
  • Disclosures

IFRS 9

  • Classification Issues
  • Classification at a glance
  • Business Model
  • Nature of contractual cash flows
  • Prepayments
  • Extension of the contractual termof debt instruments 
  • Change in timing and amount of the contractual cash flows
  • Recognition of financial assets
  • Measurement of financial assets
  • Measurement subsequent to initial recognition
  • Embedded derivatives
  • Optionally convertible debenture in the hands of investor
  • Compulsory convertible debentures
  • Reclassification
  • Gains or losses on financial assets
  • Investment in unquoted equity shares
  • Transition Provisions

IFRS 10

  • Scope
  • Key terms
  • Presentation of consolidated financial statements
  • Consolidation procedures
  • Control
  • Exposure or rights to variability in returns
  • Link between power and returns
  • Relationship with other parties ("de facto agents")
  • Changes in the ownership interests
  • Loss of control
  • Disclosure

IFRS 11

  • Scope
  • General requirements
  • Understanding joint control
  • Accounting for sales or contributions of assets to a joint operation 39.5 Presentation and disclosure

IFRS 12

  • Scope
  • Key Terms
  • Disclosure information required under IFRS 12

IFRS 13

  • Scope
  • The process of performing fair value measurements
  • Approaches to valuation
  • Market approach
  • Income approach
  • Adjusted net asset method

IFRS 14

  • Scope
  • Recognition and measurement
  • Impairment considerations
  • Presentation
  • Disclosures
  • Effective dates and transition

IFRS 15

  • Scope
  • Key Definitions
  • Summary
  • Disclosures

Issues in IFRS

  • Form and components of financial statements
  • Statement of financial position
  • Statement of profit or loss and other comprehensive income

Difference between IFRS and US GAAP

  • Way forward with GAAP
Frequently Asked Questions


What is Vskills?

VSkills is a “skills testing” and certification exam conducted by - ICSIL, A Govt of India Undertaking and Govt of NCT Delhi Company. Vskills is a testing and certification programme focused on prior learning. Through Vskills Assessments, individuals with learning acquired outside of a formal classroom setting have the opportunity to get certified by appearing in standardized exams conducted throughout the nation at proctored centres.

What is Vskills Certification?

Vskills Certification is a professional skill test that is conducted to assure that a person is qualified to perform a job. It is a proof that the candidate has the requisite skills to do a job.

What are the benefits that I will get by taking Vskills Certification Exam?

Some of the benefits that you get on taking Vskills Certification exam are listed below,-

- Develop skills that are valued by experts in the industry
- Vskills Certifications opens avenue for candidates in various sectors
- Vskills Certification provides an opportunity to get certified in areas where you are not formally educated
- Vskills Certification enhances the chances of employment
- CVs of certified candidates are flagged on Monster India website as “Vskills Certified candidates” to employers.
- CVs of certified candidates are also tagged on Shine.com website as “Vskills Certified candidates” to employers.
- CVs of all Vskills Certified candidates is shared with relevant employers for employment - Vskills Certified candidates are a part of the Job Centre for Life
- Vskills provides supplementary preparation material (hard copy or online videos) to candidate for easing the process of preparation.
- Vskills assessment exams are structured and regularly updated according to the industry standards
- Vskills Certifications do not require any time commitment since it is only a test and not classroom teaching.
- Vskills Certifications open avenues for candidates in various sectors
- Vskills Certifications provide an opportunity to get certified in areas where you are not formally educated
- Vskills Certifications greatly enhance the chances of employment

What is the duration of the course?

There is NO course duration for all certification exam. Exams are conducted on monthly basis and candidate has the flexibility to select the exam date from Exam Calender as per their per feasibility. Student can give the exam any time between 1 year from the date of enrollment.

What is the eligibility for registration?

There is no minimum qualification for taking up Vskills Certification Exam, so it is for everyone – from day to day users to senior management, say - Employees - Employers - Students - Teachers - Businessmen and Entrepreneurs - Housewives/Retired Professionals, etc

What is the duration of the exam?

Vskills Certification Exam is for one hour (1 hour) duration.

What type of questions are asked in the exam?

Vskills Certification Exam has 50 multiple choice questions (1 marks each), with no negative marking.

What is the passing percentage?

Passing percentage is 50% i.e., 25 marks need to be scored in order to clear the exam.

When is the the exam conducted?

Vskills Certification Exams are conducted on monthly basis and candidate has the flexibility to select the exam date from Exam Calender as per their per feasibility.

How many attempts can I give for a certification exam?

One exam attempt per registration with no limit on re-appearance.

Can I reschedule the exam?

Yes, candidate can re-shedule the exam till the date of exam after paying the re-schedule fees.

If I fail, what is the procedure to be followed for reappearing in the exam?

In case a candidate is unable to clear the exam then, candidate can register for exam retake by paying for registration fees of Rs. 1250/- but no reading material is sent.

Does the exam is available only in India?

Candidates residing outside India can register for specific certifications as listed under the international students by appearing in online open book exam.

Can I take two or more certification exams at one time?

Yes, candidate can take two or more exams at one time.

How tough will be the paper?

The certification exam is meant to assess the ability of the student in the particular domain and checks entry level to medium level skills in that particular domain. If you know the domain area, and have studied the accompanying material well, you will have no difficulty in passing the exam.

Do you provide any sample questions?

Practice tests are provided under every certification.

What is the duration of the certification?

There is no minimum duration of certification. You may register when you want; we suggest that minimum 30 days should be kept to go over the material provided at the time of registration.

Is the exam available for international candidates?

Yes, candidates residing outside India can follow the process for international students.

What kind of placement support is provided?

Vskills provides placement support to certified candidates as - CVs of certified candidates are flagged on Monster India website as “Vskills Certified candidates” to employers. - CVs of certified candidates are also tagged on Shine.com website as “Vskills Certified candidates” to employers. - CVs of all Vskills Certified candidates is shared with relevant employers for employment - Vskills Certified candidates are a part of the Job Centre for Life

In case I am unable to take the exam will my fees be refunded?

As a policy under no circumstances will the fees be refunded to the candidate after registration, unless there is a situation that is unavoidable.

When is the result declared?

Result indicating pass or fail is told to candidate after finishing of the exam. Hard copy certificate and performance report is sent to candidates who had cleared the exam. Soft copy certificate is also e-mailed.

Is the material provided by you sufficient from exam point of view or should I refer other sources?

The study material provided by Vskills is a guideline for your exam, but you can refer to other sources for further clarity on any topic.

Are there any classes provided by you to prepare for the exam?

Vskills does not offer classes for any certification exam. The candidates have to prepare on its own for the exam. NO CLASSES are provided by Vskills.

Do you charge extra for placement assistance?

There are no charges apart from the registration fees or exam re-take in case candidate is unable to clear the certification exam.

vskillsdlplogo.jpg

V skills

VSkills is a “skills testing” and certification exam conducted by - ICSIL, A Govt of India Undertaking and Govt of NCT Delhi Company. It is one of the largest manpower companies of the government of NCT Delhi. VSkills certifications help candidates quantify and prove their skills in a particular domain - skills that are valued by the employer and are in great demand. Your Vskills Certificate is a proof that you have the requisite knowledge and makes you job ready - which is why employers rate VSkills certifications and look for people who have them.

Hot Courses

Our Partners