The objectives of this course are:
COB1: To make the students illustrate and explain the use of IFRS and Ind AS and
various concepts pertaining to it.
COB2: To make the students explain the conceptual framework (based on IFRS and Ind
AS) and its application for different transactions in corporate entities.
COB3: To make the students identify the principles of recognizing the revenue of the
COB4: To make the students develop skills for the preparation and presentation of the
COB5: To make the students competent to evaluate and analyze the Financial Statement
of the business entity.
MODULE I USE OF IFRS & IND AS
Understand the application of IFRS in India through the use of Ind AS – the applicability of
Ind AS – the mapping of Ind AS to IFRS – differences between IFRS & Ind AS – the list of
IFRS (Ind AS) – Process of transition to IFRS for the first time.
MODULE II APPLICATION OF IFRS (IND AS) FOR TRANSACTIONS
Asset based standards such as PPE, Intangible assets, borrowing costs, impairment of
assets, inventory & biological assets, provisions & contingencies, events after reporting
period, accounting policies, estimates & errors.
MODULE III REVENUE RECOGNITION
Understand the principles of recognizing revenue of the business – revenue recognition for
goods services, interest and dividends – concept of deferred income and accounting
MODULE IV PREPARATION & PRESENTATION OF FINANCIAL STATEMENTS
Thorough knowledge of preparation & presentation of financial statements by incorporating
the effects of the accounting standards (covered in module 2 & 3 only) – statement of profit
or loss and other comprehensive income – statement of financial position (Balance sheet)
MODULE V ANALYSIS OF FINANCIAL STATEMENTS
Analyse the financial performance of an entity using the financial statements – use of ratios
in performance evaluation – trend analysis – comparison with competition or industry
What Will I Learn?
- On Successful completion of this course, the learners will be able to;
- CO1: Explain the use of IFRS & Ind AS and various accounting concepts.
- CO2: Apply the IFRS and Ind AS for various transactions in corporate entities.
- CO3: Identify and Understand the principles of recognizing revenue of the business.
- CO4: Prepare and present financial statements by incorporating the effects of the
- accounting standards.
- CO5: Proficiently apply various tools and techniques for the analysis & interpretation of
- financial statements