Everybody knows about the importance of the expertise on IFRS for career growth. But we are confused about how to gain it. Here are my observations in this quest :
There are so many private institutes mushrooming since the last couple of months, providing training courses on IFRS. They are charging huge fees (Rs. 40000+), just for 6 days video lectures.
IFRS implementation is a practical field not an academic subject. Hence the industry needs the in-depth knowledge not some fancy diploma or certificate.
If we could have able to understand Indian AS and AAS and cram thick notes of Praveen Sharma / Rawat to secure good marks in Accountancy papers, then we can also gain expertise on any similar thing to increase a couple of Lacs of Rs. in our CTC. We just need some good material for self study.
Thanks to internet, there are so many web sites providing good material on IFRS. Check the web sites of the Big4s : PWC, Deloitte, KPMG & E&Y. So many kind hearted people has posted good material on www.caclubindia.com also.
www.iasplus.com from Deloitte is the best site available around. It offers an excellent free e-learning course on IFRS. This course is well designed, interesting, interactive and regularly checks your learning before allowing you to go further. It is far more better then the ICAI’s eLearing course available for Rs. 5000/-.
I’m very much disappointed by the eLearing course by ICAI. It very poorly designed and so much irritating. I feel that the official plain text versions of the IAS and IFRS are more interesting then this course. It is better to buy some good book then opting for this course.
Some good books on IFRS :
1. IFRS Practical Implementation Guide & Workbook by Mirza, Orrell & Holt (Wiley)
2. IFRS 2008 by Epstien & Jermakowicz (Wiley)
3. Handbook on IFRS by Veena Hingrah (Book Corp, Kolkata).