ACCA Diploma in International Financial Reporting

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.

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 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 ANY ONE of the following:

• Two years' relevant accounting experience and a relevant degree like Bachelors in accounting (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

Salient Features:

• First formal qualification in the sultanate which comprehensively covers all IFRSs.
• Diploma will be issued by ACCA, a well-recognised and respected name in the accounting profession in more than 170 countries.
• The course will be delivered by an ACCA member which will involve extensive syllabus coverage, practice sessions, tests and mock exams.

 Assessment

The assessment consists of three hours and fifteen minutes (15 minutes will be reading time) examination. The passing marks are 50%

Mode of Delivery

The course will be delivered through face to face interactive sessions whereby classes will be conducted for 6 hours every week (evening or weekend classes for working candidates)

Certification

On successful completion of the examination Diploma in International Financial Reporting will be awarded by ACCA.

Fees Structure

For the complete details of the fees, please refer to the Fees Structure

Course Intakes:               January and July (Examination can be taken in June and December)

Sample examination questions

Sample examination questions can be accessed at following link

http://www.accaglobal.com/content/dam/acca/global/PDF-students/ifr/ifrint/exampapers/DipIFR-2017-jun-q.pdf

Course Syllabus

1. The nature and operations of the IASB

• Structure of the IFRSF/IASB
• Extant standards of the IASB
• The framework.

2. The status and use of IFRSs around the world

• The use of IFRS around the world
• The IASB roadmap
• The annual IASB bound volume and its use.

3. Presentation and profit

• IAS 1, Presentation of financial statements
• IFRS 15, Revenue from contracts with customers
• IAS 8, Accounting policies, changes in accounting estimates and errors.

4. Accounting for assets and liabilities - part 1

• IAS 16, Property, plant and equipment
• IAS 38, Intangible assets
• IAS 40, Investment Property
• IAS 36, Impairment of assets
• IAS 23, Borrowing costs
• IAS 20, Accounting for government grants and disclosure of government assistance
• IAS 2, Inventories
• IFRS 16, Leases
• IFRS 5, Non-current assets held for sale and discontinued operations

5. Accounting for assets and liabilities - part 2

• IFRS 13, Fair Value Measurement
• IFRS 32, Financial instruments - presentation
• IFRS 9, Financial instruments
• IFRS 7, Financial instruments: disclosures
• IFRS 2, Share-based payment
• IAS 37, Provisions, contingent liabilities and contingent assets
• IAS 10, Events after the reporting period
• IAS 19, Employee benefits
• IAS 12, Income taxes
• IAS 41, Agriculture
• IFRS 6, Exploration for and evaluation of mineral resources. 

6. Group accounting

• IFRS 10, Consolidated Financial Statements
• IAS 27 (revised 2011), Separate financial statements
• IFRS 3, Business Combinations
• IAS 28 (revised 2011), Investments in associates and joint ventures
• IFRS 11, Joint arrangements
• IFRS 12, Disclosure of interests in other entities
• IAS 21, The effects of changes in foreign exchange rates
• IAS 29, Financial reporting in hyperinflationary economies.

7. Disclosure standards

• IAS 7, Statement of cash flows
• IAS 24, Related party disclosures
• IAS 33, Earnings per share
• IAS 34, Interim financial reporting
• IFRS 4, Insurance contracts
• IFRS 1, First time adoption of IFRS
• IFRS 8, Operating segments.

8. Principal differences between UK/US GAAP and IFRS

9. Proposals for change

For further information and registration please contact

Mr Ikram Ul haq

24730461

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