I am an MBA Graduate in Finance and an SAP FI Certified Consultant and having 6 years f SAP experience. At present I am working in an MNC company and doing SAP consulting.
I am little bit confused on whether and how much much an SAP Consultant should have knowledge on various IFRS standards as now a days these Accounting standards are adopted by various Countries.
Hence I wanted experts advise regarding to the areas in which IFRS Knowledge will be useful in SAP and what long term career options one can take up if he has knowledge on various IFRS Accounting standards.
I am also planning to do Diploma course in IFRS and hence wanted your valuable advise if it is good idea to go as we need to invest money and time as well.
It depends on how much time and money you need to invest in learning IFRS. It is always beneficial for SAP consultants to have some background in business related aspects of their SAP module. For example, MM consultants should have understanding about warehouse and logistics business processes. And, FI consultants should know accounting processes and financial reporting.
As you are working as an FI consultant now, you should be able to see if you are missing knowledge of IFRS to perform your job or get new project assignments. I think that you should make your decision based on this understanding and trends in your business environment.