Diploma in IFRS
ACCA Diploma in IFRS (DIP IFRS) builds on the technical and/or practical knowledge acquired from recognized country-specific accountancy qualifications or relevant work experience. The syllabus introduces the candidate to the wider international framework of accounting and the system of standard setting. This course concentrates on the application of conceptual and technical financial reporting knowledge that candidates have already obtained to the specific requirements of financial reporting under international financial reporting standards.
Over 113 countries require or permit the use of International Financial Reporting Standards (IFRS) for publicly-traded companies. All listed companies in the European Union (EU) have to prepare consolidated company accounts that comply with IFRS. It also affects associates and subsidiaries of EU-listed companies. Other countries such as Australia, Hong Kong, and South Africa have already adopted IFRS or equivalents as their local Generally Accepted Accounting Principles (GAAP). And many other countries around the world, including India, are moving towards applying IFRS, which is having a significant impact on financial reporting.
The DIP IFRS provides essential international financial reporting knowledge and principles that will prepare candidates for the increasingly global market place and keep them abreast of international developments and how they might apply to companies and businesses.
WHO IS IT FOR?
If you are a professional accountant or auditor who works in practice or business, and are qualified according to national accounting standards, then you are eligible to take this ACCA financial reporting qualification.
If you are working in practice, but not yet qualified, then you may still be eligible. You will need to prove that you have one of the following:
Two years’ relevant accounting experience and a relevant degree (attracting at least ACCA qualification exemptions F1-F4)
Two years‘ relevant accounting experience and an ACCA Certificate in International Financial Reporting
Three years’ relevant accounting experience
ACCA affiliate status
To confirm the relevance of a degree please refer to ACCA’s Exemption Enquiry database
If you don’t yet have the entry requirements to start ACCA DIP IFRS, then why not consider ACCA’s online certificate in IFRS called CERTIFR
On completion of this course, candidates should be able to:
Understand and explain the structure of the international professional and conceptual framework of accounting Apply relevant international financial reporting standards to key elements of financial reports Identify and apply disclosure requirements for entities relating to the presentation of financial reports and notes Prepare group financial statements (excluding group cash flow statements) including subsidiaries, associates, and joint arrangements
The ACCA Diploma in IFRS course covers the following topics:
International sources of authority
Elements of financial statements
Presentation and additional disclosures
Preparation of external financial reports for combined entities, associates and joint arrangements
To view the detailed syllabus, please click on following link – ACCA DIP IFRS Syllabus
EXAM FORMAT & DATES
ACCA Diploma in IFRS (DipIFR) is assessed by a single three-hour written exam. You will need to achieve a 50 percent mark or above to complete the paper.
The exam is held twice a year – in June and December at ACCA’s exam centers.
There are two sections to the paper which requires a mix of calculations and written answers. The assessment marks are split as follows:
Section A One ‘groups’ question 40 Marks
Section B Three scenario questions 20 Marks Each (Total 60 Marks)
DIP IFRS FEES
To be paid to ACCA
The fee is £185 (standard entry)
A fee of £185 is applicable (standard entry).
A fee of £299 is applicable (late entry)
Get in touch with us to learn more about this course.
The above fees include 60 hours of live, interactive classroom training, conducted by CFO NeXt’s experienced ACCA faculty and the study material from ACCA approved publishers.
Classes are scheduled for 10 weekends.