What is the pass mark?

Diploma in International Financial Reporting

DiplIFR-Overview and objectives

Course objectives

• To help you understand how International Financial Reporting Standards (IFRS) are used around the world • To explain the workings of the IFRSF/IASB and how these are being changed • To examine the fundamental requirements of IFRS on a standard-by-standard basis for the benefit of preparers, auditors and users of financial statements • To provide guidance on how to use IFRS in practice with the aid of questions, cases and exercises.

On completion of the Diploma candidates should be able to: • Understand and explain the structure of the framework of international accounting • 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 ventures.

Eligibility

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:

1. Three years' relevant accounting experience (by submitting a letter from your employer) 2. A relevant degree plus two years' work experience 3. An ACCA Certificate in International Financial Report ing plus two years' work experience.

Exam Pattern & Dates

Exams

The Diploma in International Financial Reporting (DipIFR) is assessed by a single three-hour 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 centres. Please see below for the exam dates are 11 June 2013 & 10 December 2013

The Syllabus

A. International sources of authority 1) The International Accounting Standards Board (IASB) and the regulatory framework B. Elements of financial statements 1) Revenue recognition 2) Property, plant and equipment 3) Impairment of assets 4) Leases 5) Intangible assets and goodwill 6) Inventories and construction contracts 7) Financial instruments 8) Liabilities – provisions, contingent assets and liabilities 9) Accounting for employment and postemployment benefits 10) Taxation in financial statements 11) The effects of changes in foreign currency exchange rates 12) Agriculture 13) Share-based payment 14) Exploration and evaluation expenditures C. Presentation and additional disclosures 1) Presentation of the statement of financial position, income statement and statement of comprehensive income 2) Earnings per share 3) Events after the reporting date 4) Accounting policies, changes in accounting estimates and errors 5) Related party disclosures 6) Operating segments 7) Reporting requirements of small and medium sized entities (SMEs)

D. Preparation of external financial reports for combined entities, associates and joint ventures 1) Preparation of group consolidated external reports 2) Business combinations – intra-group adjustments 3) Business combinations – fair value adjustments 4) Business combinations – associates and joint ventures

Examinable documents

A list of examinable documents for the Diploma in International Financial Reporting (DipIFR) is issued by ACCA once a year. The current list of examinable documents is available below. You will need to have knowledge of new examinable regulations issued by 30 September each year, as you will be examined on them the following calendar year*. You may still be examined on these documents even if the effective date is in the future. The study guide details the depth and level at which you will be examined on these documents. Download the study guide from the Related documents section at the bottom of the page. *For example, June 2011 and December 2011 will be based on examinable regulation issued by 30 September 2010.

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