The Benefits of Using an On-Demand Platform for IFRS Training

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Understandable, comparable, reliable, relevant: as managers you already know the myriad benefits of maintaining your books following the International Financial Reporting Standards (IFRS). But do you know how to incorporate this knowledge into your accountant training?

 

In the accounting profession, the IFRS create a need for effective training and education. Organisations in the European Union must integrate these standards into training materials, testing, and certification programs. And no matter the size of your organisation, on-demand programs are an ideal solution for IFRS training.

 

Consider the following benefits of using an on-demand platform for your organisation’s IFRS training.

 

Practical Business Skills

 

According to the IFRS Foundation, application of the IFRS is required for the consolidated financial statements of all EU companies whose debt or equity securities trade in a regulated market in Europe (i.e. a regulated exchange).

It is commonly believed that these fundamentals benefit investors, companies, and other users of financial statements by:

  • Reducing the cost of investments
  • Increasing the quality of information provided
  • Building greater transparency among firms’ financial statements
  • Reducing costs by only needing to report to a single standard

 

So what does this mean for your business? On-demand training equips your team with skills and techniques that can be applied to generate immediate results. These programs offer practical real-world training that’s instantly applicable.

 

Self-Paced Learning

 

Let’s face it: IFRS concepts can get a bit complicated.

 

So why overwhelm your busy employees with loads of information when you can allow them to take a self-paced, self-taught course? On-demand training programs are designed to help your employees understand and implement these complex standards with confidence.

Whether your accountants need to review the applications of IFRS 13, or the principles of IAS 21, on-demand training programs enables your employees to review content when necessary. And because the IFRS employ a principles-based—rather than rules-based—philosophy, the option to revisit content is invaluable in the long run.

 

Flexibility & Accessibility

In an increasingly mobile workforce, catering to the needs of remote and telecommuting employees is important. On-demand programs are flexible, self-taught and easily accessible. And what’s more, courses can be completed on any device: whether on desktop, tablet or mobile.

Not only can your employees arrange training around their individual workloads and schedules, on-demand courses enable users to access content when most convenient. There are no limitations, restrictions, or deadlines—information and course material is always accessible.

 

Effective Measurement & Evaluation

In any accountant training program, having an effective employee measurement system in place is crucial to the success of your organisation. And the best platforms have tools that enable personalised and customised measurement of employee progress.

On-demand IFRS training helps managers evaluate the effectiveness of the training programs and create accountability within their organisation. As a manager, you will have access to real-time information of your employee’s progression and completion, providing you with up-to-date visibility for tracking, measuring, and reporting purposes.

On-demand IFRS certification programs are designed to help accountants acquire the knowledge needed in today’s increasingly globalised business world. Contact LearnSignal today to see what we can do for your organisation.