Diploma in IFRS - ACCA
Diploma in International Financial Reporting (ACCA)
Overview
If you are a finance professional who is not already knowledgeable about the details of International Financial Reporting Standards (IFRS), this qualification has a fast and efficient solution to meet your needs. If you need to develop a working knowledge of the area, the DipIFR can help prepare you. International Financial Reporting Standards (IFRS) are mandated in more than 100 countries worldwide. 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.
Course Objectives
- The course is designed to develop your knowledge and understanding of International Financial Reporting Standards. You will also learn how to apply them, as well as the concepts and principles which underpin them.
- On completion of the Diploma candidates should be able to:
- Understand, Explain and Apply the IASB’s Conceptual Framework for Financial Reporting.
- Apply relevant financial reporting standards to key elements of financial reports.
- Identify and apply disclosure requirements for companies in financial reports and notes.
- Prepare group financial statements (excluding group cash-flow statements) including subsidiaries, associates and joint arrangements.
WHO IS IT FOR?
If you are a professional accountant or auditor who works in practice or business, and are a member of an IFAC membership body, then you are eligible to take this ACCA financial reporting qualification. If you are working in practice, but not yet qualified or not a member of an IFAC membership body, then you may still be eligible. You will need to prove that you have one of the following: 1)Two years’ relevant accounting experience and a relevant degree (attracting at least ACCA qualification exemptions for the Applied Knowledge and Corporate and Business Law (LW) exams), 2) Two years ‘relevant accounting experience and an ACCA Certificate in International Financial Reporting, 3)Three years’ relevant accounting experience and 4) ACCA affiliate status.
HOW IT WORKS?
The Diploma in International Financial Reporting (DipIFR) is assessed by a single three-hour, 15-minute written exam. You will need to achieve a 50 per cent mark or above to complete the paper. The exam is held twice a year – in June and December at ACCA’s exam canters. The exam is split into 4 x 25 marks questions. The June 2021 exam for the Diploma in International Financial Reporting is scheduled to take place on 11 June 2021.
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What are the benefits of Diploma in IFRS?
This course will help you gain a working knowledge of IFRS, how to apply them, and the core ideas and values that underpin them as an international qualification. Awareness of the International Financial Reporting Standards (IFRS) is now needed to be applicable in the area of accounting and finance. The following are some of the benefits of the International Financial Reporting Standards (IFRS):
- By passing only one test, the course can be completed in 4-6 months.
- Understanding the International Financial Reporting Standards (IFRS) trains you for a variety of positions in a variety of industries.
- The International Financial Reporting Standards (IFRS) have now been adopted by over 120 nations. Awareness of these universal principles in practise will undoubtedly pave the way for an internationally competitive profession.
- As these standards continue to evolve, experts with a stronger knowledge of them would be in greater demand.
- IndAS is mandatory for all public firms in India and corporations with a net worth of $250 million or more. IndAS is an Indian equivalent of IFRS.
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