Certified IndAS Professional

Indian Accounting Standard (abbreviated as Ind-AS) is the Accounting standard reared by companies in India and issued under the supervision of Accounting Standards Board (ASB) having representatives from a government department, academicians, other professional bodies viz. ICAI, representatives from ASSOCHAM, CII, FICCI, etc. For the Vskills Certified IndAS Professional exam, the candidate needs to have knowledge regarding accounting standards, Ins AS basics, Ind AS Assets Recognition and Measurement, their liabilities, etc.

Exam Overview

The Vskills Certified IndAS Professional course is denoted for professionals and graduates aspiring to excel in their chosen areas. It is also well accommodated for those who are previously working and would like to take certification for further career progression. Earning Vskills IndAS Certification can help candidate differentiate in today’s competitive job market, broaden their employment opportunities by displaying their advanced skills, and result in higher earning potential.

Vskills being India’s largest certification provider gives candidates access to top exams as well as provides after exam benefits. This includes:

Become Government Certified Professional!
The Certification is valid for life.
Candidates will get lifelong e-learning access.
Access to free Practice Tests.
Candidates will get tagged as ‘Vskills Certified’ On Monsterindia.com and ‘Vskills Certified’ On Shine Shine.com.

Exam Details

Exam Duration: 60 minutes
Vskills Exam Code: VS-1563
Number of questions: 50
Maximum marks: 50
Passing marks: 25 (50%)
Exam Mode: Online
There is NO negative marking in this module.

Course Outline

Vskills Certified US GAAP Professional exam covers the following topics –

Introduction to Ind AS

Accounting Standards
Global Standardization and IFRS
Enterprise Classification
Ind AS Basics
Ind AS 101 First-time Adoption of Indian Accounting Standards

Ind AS Assets Recognition and Measurement

Ind AS 2 Inventories
Ind AS 16 Property, Plant and Equipment
Ind AS 116 Leases
Ind AS 20 Accounting for Government Grants and Disclosure of Government Assistance
Ind AS 23 Borrowing Costs
Ind AS 36 Impairment of Assets
Ind AS 38 Intangible Assets
Ind AS 40 Investment Property
Ind AS 105 Non-Current Assets held for Sale and Discontinued Operations

Ind AS Liabilities Recognition and Measurement

Ind AS 12 Income Taxes
Ind AS 19 Employee Benefits
Ind AS 37 Provisions, Contingent Liabilities and Contingent Assets
Ind AS 102 Share-based Payments

Ind AS Revenue

Ind AS 115 Revenue from Contracts with Customers

Ind AS Financial Instruments

Ind AS 32 Financial Instruments Presentation
Ind AS 109 Financial Instruments
Ind AS 107 Financial Instruments Disclosure

Ind AS Business Structures and Consolidations

Ind AS 27 Separate Financial Statements
Ind AS 28 Investment in Associates & Joint Ventures
Ind AS 103 Business Combinations
Ind AS 110 Consolidated Financial Statements
Ind AS 111 Joint Arrangements
Ind AS 112 Disclosure of Interest in Other Entities

Ind AS Disclosures and Measurements

Ind AS 24 Related Party Disclosure
Ind AS 108 Operating Segments
Ind AS 113 Fair Value Measurement

Ind AS Financial Statements and Reporting

Ind AS 1 Presentation of Financial Statements
Ind AS 7 Statement of Cash Flows
Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors
Ind AS 10 Events after Reporting Period
Ind AS 33 Earnings Per Share
Ind AS 34 Interim Financial Reporting

Miscellaneous

Ind AS 21 The effects of changes in Foreign exchange rates
Ind AS 29 Financial reporting in hyperinflationary economies
Ind AS 41 Agriculture
Ind AS 106 Exploration for and Evaluation of Mineral resources
Ind AS 104 Insurance contracts
Ind AS 114 Regulatory Deferral Accounts

Updates

Ind AS Updates
Superseded Ind AS

Preparation Guide

Candidates brewing for the Certified IndAS Professional exam should recognize the importance of exam resources. During the exam preparation, it is important to get all the necessary exam study sources. This will provide the benefit to understand the concepts and meaning more precisely. In the preparation guide, we will review some of the most significant resources to help the candidate prepare well for the exam.

Certified IndAS Professional preparatory guide

Exam Objectives

For every examination, the first task should be to get all the exam relevant details including the important contents and its topic. With complete exam objectives, the candidate’s exam preparation time is better spent because they already know what to study. For this exam, the topics include:

Introduction to Ind AS
Ind AS Assets Recognition and Measurement
Ind AS Liabilities Recognition and Measurement
Ind AS Revenue
Ind AS Financial Instruments
Ind AS Business Structures and Consolidations
Ind AS Disclosures and Measurements
Ind AS Financial Statements and Reporting
Miscellaneous
Updates

Vskills Online Learning Material

Vskills provides candidates a way to prepare for the exam using the online learning material for existence. The online material for this is regularly updated. Moreover, e-learning is bundled with hard copy material which encourages candidates to enhance and update the learning curve for superior and better opportunities. The candidate can also download the sample chapter for the Certified IndAS Professional exam.

Vskills Brochure

Vskills also provides a brochure for the Certified IndAS Professional exam. The brochure contains all the necessary related to the exam such as details, sample papers, important information, course outline, etc.

Books for Reference

The next step in the preparatory guide should be books and study guides. The candidate needs to find those books which are enriched with information. Finding a good book may be a difficult task, but in order to gather knowledge and skills, the candidate has to find, read, and understand.

Practice Test

Practice tests are the one who ensures the candidate about their preparation for the exam. The practice test will help the candidates to acknowledge their weak areas so that they can work on them. There are many practice tests available on the internet nowadays, so the candidate can choose which they want. Try the practice test here!