Academic Programs

Certificate in International Financial Reporting Standards (IFRS)


In today's global economy, businesses are increasingly operating across borders, making it essential for financial professionals to have a comprehensive understanding of International Financial Reporting Standards (IFRS). IFRS is the global accounting language that sets out the principles and rules that companies must follow when preparing financial statements. IFRS-compliant financial statements are required by many international regulatory bodies, including the International Accounting Standards Board (IASB).

This certificate course in International Financial Reporting Standards is designed to equip students with a deep understanding of IFRS and its practical applications in today's business environment. Throughout the course, students will learn how to prepare financial statements that comply with IFRS standards and regulations, as well as how to apply IFRS principles to complex accounting scenarios.

The course is ideal for financial professionals seeking to enhance their knowledge of IFRS, including accountants, auditors, and finance managers. Upon completion of the course, students will receive a certificate in International Financial Reporting Standards, demonstrating their expertise in this critical area of financial reporting. Graduates of the program will be well-prepared to work with international clients and organizations and to navigate the complexities of global financial reporting.

Basic Details:


Contact Hours (Total)

Classes/Contact Hours Per Week


Course Fee

2 Months


2 Classes/ 4 Hours

1. Students and Graduates of  Accounting, Finance, Business and Commerce Degrees

2. Employees Working in Accounting & Finance Departments of Public & Private Organizations

1. PKR 20,000/- for UMT Students/Alumni/ Staff/Faculty

2. PKR 25,000/- for other than UMT Family


Course Contents

An overview of Financial Accounting and Reporting - An Overview

  •  Financial accounting in contemporary business environment.
  • International accounting standard board (IASB) framework.
  • Financial statements of unincorporated organizations i.e. sole traders, partnerships, non-trading organizations and single entry systems.
  • Financial statements of incorporates organizations i.e. public and private limited companies.

International Accounting Standards (IAS) in Practice

  • Presentation of financial statement. (IAS-1).
  • Inventories (IAS-2).
  • Statement of Cash Flows (IAS-7).
  • Accounting policies, Changes in Accounting Estimates and Errors (IAS-8).
  • Events after the Reporting Period (IAS-10).
  • Construction Contracts (IAS-11).
  • Income Taxes (IAS-12).
  • Property, Plant and Equipment (IAS-16).
  • Leases (IAS-17).
  • Revenues (IAS-18).
  • Employees Benefits (IAS-19).
  • Accounting for Government Grants and Disclosure of Government Assistance (IAS-20).
  • The Effect of Changes in Foreign Exchange Rates (IAS-21).
  • Related Party Disclosures (IAS-24).
  • Accounting and Reporting by Retirement Benefit Plans (IAS-26).
  • Separate Financial Statements (IAS-27).
  • Investments in Associates and Joint Ventures (IAS-28).
  • Financial Reporting in Hyperinflationary Economies (IAS-29).
  • Financial Instruments: Presentation. (IAS-32).
  • Earnings per Share (IAS-33).
  • Interim Financial Reporting (IAS-34).
  • Impairment of Assets (IAS-36).
  • Provisions, Contingent Liabilities and Contingent Assets (IAS-37).
  • Intangible Assets (IAS-38).
  • Investment in Property (IAS-40).
  • Agriculture (IAS-41).

International Financial Reporting Standards (IFRS) in Practice

  • First-time Adoption of International Financial Reporting Standards (IFRS-1).
  • Share-based Payment (IFRS-2).
  • Business Combinations (IFRS-3).
  • Insurance Contracts (IFRS-4).
  • Non-current Assets Held for Sale and Discontinued Operations (IFRS-5).
  • Exploration for and Evaluation of Mineral Resources (IFRS-6).
  • Operating Segments (IFRS-8).
  • Financial Instruments (IFRS-9).
  • Consolidated Financial Statements (IFRS-10).
  • Joint Arrangements (IFRS-11).
  • Disclosure of Interest in Other Entities (IFRS-12).
  • Fair Value Measurement (IFRS-13).
  • Regulatory Deferral Accounts (IFRS-14).
  • Revenue from Contracts with Customers (IFRS-15).
  • Leases (IFRS-16).
  • Insurance Contracts (IFRS-17).

Analysis and Interpretation of Financial Statements

  • Comparative and common size analysis.
  • Trend and index analysis.
  • Gross profit and net profit analysis.
  • Breakeven and cost volume and profit analysis.
  • Ratios analysis.


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