Learners who complete the qualification successfully will be able to demonstrate a sound knowledge of the regulatory and conceptual frameworks that are fundamental to the preparation of financial statements for limited companies.
The qualification is made up of:
This qualification is assessed by a time constraint final examination.
110 GLH (Guided Learning Hours)
330 hours TQT (Total Qualification Time)
Credit value – 33
Overview Learners who complete the qualification successfully will be able to demonstrate a sound knowledge of the regulatory and conceptual frameworks that are fundamental to the preparation of financial statements for limited companies. This qualification is assessed by a time constraint final examination. Key information: Guided Learning Hours – 110 Total Qualification Time – 330 Credit value – 33
Who is this qualification for?
Who is this qualification for? The Level 4 Certificate in International Accounting Standards and IFRS has been designed to appeal to learners: · Who already hold the IAB Levels 2 and 3 Bookkeeping and Accounting qualifications, or other bookkeeping/accounting equivalent accredited qualifications recognised by the IAB, and want to further their studies at an advanced level · Who already have some experience of bookkeeping and accounting as senior bookkeepers, accounting technicians or in allied roles, but wish to enhance their knowledge and skills so that they can perform some of the more advanced routine and non-routine tasks associated with accounting for limited companies
What you’ll study
1. Understand the legal status of a limited company
2. Account for the capital structure of a limited company
3. Understand the need for a regulatory framework
4. Understand the purpose of the Conceptual Framework for Financial Reporting
5. Understand International Accounting Standards and how to apply the standards to the financial statements of a reporting entity
6. Prepare a Statement of Profit or Loss and Other Comprehensive Income and a Statement of Financial Position
7. Prepare a Statement of Cash Flows
Learning Resources Available
This qualification does not come with any resources.
Learners will need to purchase the Level 4 self-study textbook.
How much will it cost?
This qualification is currently only offered via self-study, that is not through an approved tuition centre. The fee excludes Student membership which is a requirement for registration onto this qualification. This fee covers: · Assessment fees · Certification upon successful completion of the assessment
How is it assessed?
The IAB assesses competence in the Level 4 Certificate in International Accounting Standards and IFRS qualification by means of an examination of three hours duration. The examination must be completed under controlled conditions.
Next Steps After Passing
Upon successful completion of this qualification, learners will be able to apply for professional membership of the IAB
Further information about this qualification can be found here