Broadening my knowledge
I am ambitious and so always on the lookout for new opportunities for professional development. I opted for the UK stream for my ACCA studies so all my papers were based on UK Accounting Standards. Afterwards I decided to study ACCA’S Diploma in International Financial Reporting (IFRS) with a view to broaden my knowledge of this area.
IFRS allows organisations to be more transparent
Globalisation is creating an environment where finance professionals should be prepared to speak the same language when it comes to financial reporting. The use of IFRS will soon no longer be by choice but by necessity so professionals should be prepared to deliver up-to-date and globally relevant financial statements.
IFRS allows international organisations more transparency when comparing financial statements and will make comparison much easier. I appeal to all finance professionals who have not yet equipped themselves with IFRS to do so – as it will help restore the profession’s reputation, which has been tarnished by numerous financial related scandals of the last decade.
More confident in international standards
I found the Diploma relevant and up to date in terms of IFRS. I learned concepts and principles which were helpful in exploring my understanding of accounting standards within the global economy. I better understand the terminologies used and feel more confident in reviewing, giving advice on or comparing financial statements prepared in various international standards.
I found the DipIFR course flexible and the course materials easy to follow, as were the relevant articles on ACCA website. As an ACCA member, I used my DipIFR to count towards my CPD and it took me only three months to prepare for the assessment. I think three months is hardly any time at all – even for a busy finance professional - when it’s invested in the future of financial reporting.
Last updated: 29 Jan 2014