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Diploma in IAS / IFRS

If you are a finance professional who wants to enrich professional skills and knowledge about the details of International Accounting Standards (IASs)/ International Financial Reporting Standards (IFRSs), Diploma in IAS/ IFRS is a swift and proficient solution to meet such needs to develop an effective working knowledge of the area. Currently, in over 115 countries it is mandatory for public limited companies to comply with IASs/ IFRSs. Realizing the emerging diversities and complexities in the world of accounting and the excessive use of IASs/ IFRSs in relation to its local and international applications, the Institute is offering Diploma in IAS/ IFRS to equip professionals with the globally accepted reporting standards to enable them to avail such employment opportunities in the global as well as local corporate market.


Aims and Objectives

The objective of the program is to apprise the participants with latest techniques and standards of Financial Reporting and global benchmark to ensure better financial management and corporate governance. On completion of the Diploma, participants should be able to:

  • Comprehend and elucidate the structure of the international accounting framework .
  • Develop expertise in the recognition and application of relevant financial reporting standards to key elements of financial reports .
  • Solve the issues in relation to IASs/ IFRSs.
  • Step forward within various accounting support roles as IASs/ IFRSs specialists .
  • Craft boulevards of international mobility.
Pre-Requisite
  • AAPA/ ACIS/ M.Com/ MS in Accounting/ MBA with at least three (3) years experience;
  • B.Com/ BS in Accounting/BBA with at least five (5) years experience;
  • CMA (Managerial level/ 4 Stages/ 4 Semesters/ Level 2) and CA Inter/ CAF Level qualified with at least two (2) years experience;
  • ACMA/ FCMA, ACA/ FCA, ACCA, CFA and members of other professional institute.
Duration of the Diploma
  • The diploma consists of two Levels i.e., Professional-I & II and duration of each level is three (3) months;
  • Total class and CPD hours for each level is 45;
  • Classes will be held 2 hours in a day on Friday/ Saturday and Sunday (4 hours per week).
Assessment Criteria

The candidates will be required to undertake a 1.5 hours computer based examination (CBE) of each level consist of 50 MCQs of 2 marks each.

Passing Percentage

Passing percentage for each level is 50%.

Result

The result will be displayed on the screen at the end of examination and a list of students will be posted on the notice board of respective centre.

Certificate

Following two types of certificates will be issued to participants:


i- Certificate of Participation:

Upon attending at least 70% classes’ Certificate of Participation’ will be awarded to each participant of Level-I and CPD hours will be granted according to the actual attendance of participants.


ii- Certificate of Diploma:

Upon completion of both levels examinations ‘Diploma in IAS/IFRS’ will be awarded to each participant. However, certificate of participation will be given to each participant for attending 70% classes.
Fee for Reattempt

Any participant who fails to qualify examination [CBE] may reappear in next schedule examination on payment of Rs. 2,000/- per level to get the Diploma.

Syllabus

Subjects Code

 Subjects
Level - I

Introduction to International Financial Reporting Standards Conceptual Framework for Financial Reporting

IAS 1

Presentation of Financial Statements

IAS 2

Inventories

IAS 7

Statement of Cash Flows

IAS 8

Accounting Policies, Changes in Accounting Estimates and Errors

IAS 10

Events After the Reporting Period

IAS 11

Construction Contracts

IAS 12

Income Taxes

IAS 16

Property, Plant and Equipment

IAS 17

Leases

IAS 18

Revenue

IAS 19

Employee Benefits

IAS 20

Accounting for Government Grants and Disclosure of Government Assistance

IAS 23

Borrowing Costs

IAS 26

Accounting and Reporting by Retirement Benefit Plans

IAS 36

Impairment of Assets

IAS 37

Provisions, Contingent Liabilities and Contingent Assets

IAS 38

Intangible Assets

IAS 40

Investment Property

IAS 41

Agriculture

IFRS 5

Non-current Assets Held for Sale and Discontinued Operations

IFRS 6

Exploration for and Evaluation of Mineral Assets

IFRS 8

Operating Segments

IFRIC

International Financial Reporting Standards Interpretation Committee (Relevant Interpretations)

SICs

Standard Interpretations Committee (Relevant Interpretations)

Special
Pronouncement

Conceptual Framework for Financial Statements 2010
Level - II

IAS 21

The Effects of Changes in Foreign Exchange Rates

IAS 24

Related Party Disclosures

IAS 27

Separate Financial Statements

IAS 28

Investments in Associates and Joint Ventures

IAS 32

Financial Instruments: Presentation

IAS 33

Earnings Per Share

IAS 34

Interim Financial Reporting

IAS 39

Financial Instruments: Recognition and Measurement

IFRS 1

First-time Adoption of International Financial Reporting Standards

IFRS 2

Share-based Payment

IFRS 3

Business Combinations

IFRS 4

Insurance Contract

IFRS 7

Financial Instruments: Disclosures

IFRS 9

Financial Instruments

IFRS 10

Consolidated Financial Statements

IFRS 11

Joint Arrangements

IFRS 12

Disclosure of Interests in Other Entities

IFRS 13

Fair Value Measurement

IFRS 14

Regulatory Deferral Accounts

IFRS 15

Revenue from Contracts with Customers

IFRIC

International Financial Reporting Standards Interpretation Committee (Relevant Interpretations)

SICs

Standard Interpretations Committee (Relevant Interpretations)

Special
Pronouncement

IFRS for Small and Medium Size Enterprises
IFRS Practice Statement Management Commentary
For details please contact to

Maqsood un Nisa

Sr.Officer Members’ Professional Development and Corporate Training | ICMA Pakistan

ICMA Pakistan, ST-18/C, ICMAP Avenue, Block - 6, Gulshan-e-Iqbal, Karachi, Pakistan .
Phone: +92 21 99243900 | Ext: 224, maqsood.unnisa@icmap.com.pk

Habibullah Shami

Officer CPD| ICMA Pakistan

Institute of Cost and Management Accountants of Pakistan [ICMA Pakistan] Address: ICMAP Building, 42 Ferozepur Road Lahore.
Phone: +92 42 99214691-93 | UAN: 111-042-262 Ext: 31 | Cell: + 92 333 8306003, habib.shami@icmap.com.pk

Zulfiqar Ali

Sr. Officer | Member Affairs Department

Institute of Cost and Management Accountants of Pakistan [ICMA Pakistan]Plot No. 16, Sector H-9, Islamabad. .
Phone: +92 51 9265215-8 | Cell: + 92 334 8696996, zulfiqar.ali@icmap.com.pk