Diploma in International Financial Reporting (DipIFR)
About ACCA DipIFR
The Association of Chartered Certified Accountants (ACCA)
is a fast growing global professional accountancy body with
over a 100 years of experience and consisting of 425,000 students and members
in over 170 countries. Both its reputation and influence are respected
worldwide by employers, governments and profession itself.
in International Financial Reporting (DipIFR) is an international qualification
in IFRS developed by Association of Chartered Certified Accountants (ACCA) –
which helps to develop knowledge in the area of International Financial
Reporting Standards (IFRS).
The aim of this course is to provide qualified accountants
or graduates, possessing relevant country specific qualifications or work
experience with an up to date and relevant conversion course, providing a
practical and detailed knowledge of the key international financial reporting
standards (IFRS® Standards) and how they are interpreted and applied.
The Diploma in International Financial Reporting (DipIFR) builds on the
technical and/or practical knowledge acquired from recognized country specific
accountancy qualifications or relevant work experience. The course introduces
candidates to the wider international framework of accounting and the system of
standard setting. The Dip IFR concentrates on the application of conceptual and
technical financial reporting knowledge that candidates have already obtained
to the specific requirements of financial reporting under IFRS Standards. The
DipIFR also provides essential international financial reporting knowledge and
principles that will equip candidates to operate in an increasingly global
After successful completion of this course, candidates should be able to:
- Understand and explain the structure of the international professional and conceptual framework of financial reporting;
- Apply relevant international financial reporting standards to key elements of financial statements;
- Identify and apply disclosure requirements for entities relating to the presentation of financial statements and notes;
- Prepare group financial statements (excluding group cash flow statements) including subsidiaries, associates and joint arrangements.
- Chief Financial Officers (CFOs), finance directors and strategic planners;
- Accountants and analysts;
- Consultants, practicing Chartered Accountants (CA), Cost and Management Accountants (CMA);
- Finance and accounting professionals;
- Graduates/Post graduates who are a part of the finance/accounting team.
Diploma IFRS will be assessed by a single three-hour written exam, which is held twice a year, once in June and again in December at ACCA's exam centers in Baku. The passing mark is 50 per cent. The exam contains two sections and has a mix of calculations and written answers. Some questions adopt a scenario/case study approach.
- INTERNATIONAL SOURCES OF AUTHORITY: The International Accounting Standards Board (IASB) and the regulatory framework
- ELEMENTS OF FINANCIAL STATEMENTS: Revenue recognition; Property, plant and equipment; Impairment of assets; Leases; Intangible assets and goodwill; Inventories; Financial instruments; Provisions, contingent assets and liabilities; Employment and post-employment benefits; Tax in financial statements; The effects of changes in foreign currency exchange rates; Agriculture; Share-based payment; Exploration and evaluation expenditures; Fair value measurement;
- PRESENTATION OF FINANCIAL STATEMENTS AND ADDITIONAL DISCLOSURES: Presentation of the statement of financial position, the statement of profit or loss and other comprehensive income and the statement of changes in equity; Earnings per share; Events after the reporting period; Accounting policies, changes in accounting estimates and errors; Related party disclosures; Operating segments; Reporting requirements of small and medium sized entities (SMEs);
- PREPARATION OF EXTERNAL FINANCIAL REPORTS FOR COMBINED ENTITIES, ASSOCIATES AND JOINT ARRANGEMENTS: Preparation of group consolidated external reports; Business combinations – intra-group adjustments; Business combinations – fair value adjustments; Business combinations – associates and joint arrangements; Complete disposal of shares in subsidiaries;
- At the end of the course students will be able to pass the international exam of DipIFR organized by ACCA.
- Course Language: English
- Course Duration: 90 hours