Certified International Financial Accountant
The Institute of Certified Business Consultants (the ICBC) sponsors the Certified International Financial Accountant (CIFA) designation as a global financial accounting credential.
The program is developed based on advanced concept of accounting practices in line with the IFRS, and the candidates who will study the CIFA should have adequate knowledge of the fundamentals of financial accounting practices.
The candidates who study CIFA program and pass the CIFA examination, along with possessing the relevant educational background, will satisfy the educational component requirements of the CIFA. Further, the CIFA candidates should possess at least two years of experience in accounting and/or other relevant work experiences, such as audit. Accordingly, members with CIFA designation are expected to possess adequate knowledge and experience in proper accounting practices.
What Are the Main Topics of CIFA
The Certification would address the following accounting topics:
- IASB Framework
- Financial Accounting Concepts
- Financial Statements
- Property, Plant, and Equipment
- Investment Property
- Financial Instruments
- Investments in Associates and Joint Ventures
- Consolidated Financial Statements
- Construction Contracts and Borrowing Costs
- Intangible Assets
- Earnings Per Share
- Impairment of Assets
- Income Taxes
Who Should Attend the CIFA
The ones who would benefit the most from the CIFA are professionals in accounting, audit, finance and other related fields.
To become a CIFA, a candidate must fulfill the following requirements:
- Maintain continuous active membership with the ICBC
- Pass the CIFA examination – passing grade is at least 70 out of 100
- At least two years’ experience in accounting or other related fields – i.e. audit, finance, investment, business consultancy, and economic research.
- Fulfill the requirements of the CPE (Continuous Profession Education) program of the CIFA
The total application fees are USD$400.00 for CIFA.