Keimyung University student Ji Da-young(22), a senior majoring in accounting, earned the highest score on the manager examination of International Financial Reporting Standards (IFRS). It is the only examination that verifies executive ability in the nation, targeting university students, executives and others. Although nearly 1,000 people take the exam every year all over the country, it is widely known as a hard test to pass because of the low pass rate. She got the highest exam score and a scholarship last April in the 8th IFRS examination.
“I went home after I finished my allotted study hours each day. I think that it is important not to give up and to make an effort even though I felt frustrated in preparing for the exam because I studied alone.” she said. "I think that I did my best to take the exam enough to be content myself but I did not expect to pass the examination with the highest score. My dream is to become a company CFO, so I want to experience many types of businesses after graduation." she said too.
IFRS is the international accounting standards that were launched by the International Accounting Standards Board (IASB) to solve the problems that happened because of the liberalization of capital markets and different accounting standards among countries. It has had a great effect on the international credit rating improvement of Korean companies. It has been introduced in more than 110 countries, including most European countries. In addition, the United States will introduce it in 2014. Korean companies are interested in strengthening business competition and training IFRS professionals by introducing IFRS to listed companies.