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Diploma in International Financial Reporting

In the last five years, the effects of International Financial Reporting Standards (IFRS) introduction and development have rippled across the globe. Beginning in Europe, it has spread across most of the other continents, as established economies have converted their accounting standards or developing economies have used IFRS to kick-start their regulatory infrastructure. In the past year, Change Group has become increasingly aware of growing demands for information on IFRS in the U.S., and that U.S. financial professionals may have difficulty finding the kind of focused, practical IFRS training that they require.

US Accountants are under pressure to understand the concepts, principles and practical implications of IFRS as U.S. financial reporting aligns itself with what is going on elsewhere - "elsewhere" being pretty much everywhere that U.S. companies do business. Also, Canada has announced an IFRS implementation date of Jan. 1, 2011, and accountants across South America are currently training to work with IFRS.

Working through our partnership with ContractualCFO, Change Group provides U.S. accountants with the chance to take the examination for the "Diploma in International Financial Reporting" (DipIFR), the world's first recognized professional IFRS qualification. ACCA (UK, CPA equivalent) has introduced the first accredited IFRS qualification in the world - the Diploma in International Financial Reporting. It is the ideal IFRS qualification for experienced finance professionals who may already hold a non-IFRS compliant accounting qualification. In the course of studying for the DipIFR, candidates will;

understand the international regulatory framework of financial reporting
be able to apply IASs and IFRSs to practical situations
train to prepare financial statements in accordance with IASs, IFRSs and pronouncements of the Standing Interpretation Committee
train to prepare group financial statements including subsidiaries, associates and joint ventures

This self-study material is designed for people who may be studying for DipIFR or who may wish to use it as IFRS reference material outside the context of the examination. Courses to help prepare for the DipIFR examination are available and are typically structured to include a four-day introductory course followed by a further four-day revision course close to the exam date.

ACCA's DipIFR syllabus and examination along with the self-study material are all designed to provide practical and professional education that enables accountants to get on with the job of working with IFRS. The entire package is designed to take the stress and panic out of IFRS implementation. Training in IFRS is not just about corporate awareness of and compliance with the new standards, it's also about individual professionals gaining a personal edge. IFRS training is also a very useful tool in meeting accountants' continuing professional development/education (CPE) requirements.



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