Hosts one-day Workshop on IFRS, Ind AS to strengthen global accounting education
JK News Today
Jammu, October 16: The University of Jammu, in collaboration with the Association of Chartered Certified Accountants (ACCA), has signed a Memorandum of Understanding (MoU) aimed at strengrhening academic excellence and promoting global professional education in commerce and finance. The initiative was led by the Department of Commerce, University of Jammu.
The MoU was formally signed by Dr. Neeraj Sharma, Registrar, University of Jammu, and Mr. Prabhanshu Mittal, Head of Education Partner Relationship (India), ACCA, in the esteemed presence of Prof. Umesh Rai, Hon’ble Vice Chancellor, University of Jammu.
Congratulating both ACCA and the Department of Commerce on this collaboration, Prof. Rai described it as a forward-looking initiative that will help students align with international standards in finance and accounting. He stressed the importance of incorporating project-based and experiential learning into academic programs to ensure students are prepared for the demands of a rapidly evolving global workforce. During his interaction with the faculty and ACCA team, he also emphasized the need to strengthen industry-academia linkages and encourage practical exposure alongside theoretical learning.
As part of the collaboration, the Department of Commerce, in association with ACCA, organized a one-day workshop on International Financial Reporting Standards (IFRS) and Indian Accounting Standards (Ind AS).
In today’s interconnected global economy, harmonized accounting standards are essential for ensuring transparency, comparability, and reliability in financial reporting. The workshop focused on IFRS — the world’s most widely adopted accounting framework, used in over 140 countries — and India’s converged standards (Ind AS), which align substantially with IFRS while accommodating domestic business and regulatory needs.
The event aimed to bridge the gap between traditional accounting practices and modern international standards, equipping participants with the skills needed to navigate complex financial reporting systems. With Indian companies increasingly engaged in cross-border trade, mergers, acquisitions, and global investments, understanding IFRS and Ind AS has become vital for accountants, auditors, financial analysts, and educators training future business leaders.
Prof J.P. Singh Joorel, Dean Academic Affairs, University of Jammu, delivered presidential remarks that emphasized the institution’s strategic vision of aligning academic programs with contemporary industry requirements. He stressed on proactively organizing this capacity-building initiative and highlighted how such collaborations between academia and professional bodies strengthen the university’s ability to prepare job-ready graduates.
Prof Alka Sharma, Dean, Faculty of Business Studies and Prof Hardeep Chahal, Director, ICCCR & HRM, University of Jammu, also graced the occasion.
Delivering the keynote address, Mr. Prabhanshu Mittal, Head of Education Partner Relationship India, ACCA, delivered an insightful keynote address that set the tone for the day’s technical sessions. Mr. Mittal brought valuable industry perspective, discussing the global landscape of accounting education and the increasing demand for professionals well-versed in international financial reporting standards.
The technical sessions were conducted by Ms. Maithreyi Swaminathan, an expert in international accounting standards and professional training. Through interactive discussions and real-world case examples, she made complex accounting concepts accessible to participants with varied levels of prior exposure. Her engaging style helped clarify practical challenges and deepen understanding of international reporting frameworks.
Earlier in her opening remarks, Prof. Jeevan Jyoti, Head, Department of Commerce, highlighted the department’s commitment to academic excellence and professional skill development. She expressed gratitude to ACCA for collaborating with the University to bring world-class professional training to the region.
The workshop concluded with closing remarks by Mr. Arjun Kukreja, Senior Business Relationship Manager, ACCA, who summarized the key learning outcomes and commended participants for their active involvement. Prof. Tarsem Lal, Workshop Coordinator, delivered the vote of thanks, acknowledging the support of the University administration, the collaborative efforts of the organizing team, and the enthusiasm of all participants.
The successful conduct of the MoU signing and workshop marks a significant milestone in the University of Jammu’s journey toward becoming a centre of excellence for professional commerce education. It also reinforces the University’s commitment to offering global learning opportunities and empowering students with skills that meet international standards—proving that world-class professional education can flourish well beyond metropolitan hubs.
