DipIFR An ACCA qualification for finance professionals 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. You need to develop a working knowledge of the area, and the DipIFR will make this happen. 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 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 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. 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: three years' relevant accounting experience (by submitting a letter from your employer) a relevant degree plus two years' work experience an ACCA Certificate in International Financial Reporting plus two years' work experience. The Diploma in International Financial Reporting (DipIFR) can be studied online to fit your studies around your work and social commitments. The diploma can be completed in three to six months. DipIFR is assessed by a three-hour written exam held twice a year. The pass mark for this is 50 per cent. You can apply online at any time to start studying DipIFR. DipIFR is supported by study materials from ACCA's platinum Approved Learning Partner for content, BPP Learning Media. Study materials from ACCA's Approved Learning Partners at gold status are also available. To find a list of these partners, visit ACCA's Content Provider Directory in the related links list on the left-hand side of the page. A number of ACCA Approved Learning Partners also offer tuition for DipIFR. Please visit our tuition provider directory to find a tuition provider by following the link in the left-hand side of the page. Continuing Professional Development (CPD) If you are an ACCA member, studying for another qualification can count towards your Continuing Professional Development (CPD). ACCA’s CPD policy states that one hour of learning is equivalent to one unit. Learning is verifiable if it is relevant to your career, you can demonstrate how you have applied the learning and you can prove that the learning took place (copies of course materials, notes from learning, contact details of a third party who can substantiate completion of the activity, certificate showing the course/assessment was completed etc). Also, if you are achieving your CPD via the unit route, studying this diploma may fully meet your 40 unit CPD requirement for one year; in this case you can also carry forward up to 21 verifiable units to the following CPD year. 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: 11 June 2013 10 December 2013 There are two sections to the paper which requires a mix of calculations and written answers. The assessment marks are split as follows: Marks Section A One 'groups' question 40 Section B Three scenario questions 60 (20 marks each) 100 We have over 400 exam centres around the world. To find an exam centre near you please visit the exam centres database. Special centres It is possible to arrange exams at centres other than those listed in the exam centre database. These are called special centres. Requests for sitting exams at special centres should be sent in writing, together with your application form and supporting documentation by the following dates: 8 March for the June exams 8 September for the December exams If you wish to sit your exams at a special centre then you should ensure that ACCA receives your application and supporting documentation by the above closing dates. Remember to allow time for postal delivery. The Syllabus Please refer to the study guide and examinable documents to find out details about the syllabus. They can be downloaded from the bottom of this page. 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. Past exam papers Questions and answers for recent Diploma in International Financial Reporting (DipIFR) exam sessions are listed below. As these papers were used in the past, they should only be used as a guide to exam content. Examiners' reports These reports contain constructive feedback on the performance of candidates in past Diploma in International Financial Reporting (DipIFR) exams. They provide general commentary on each session, as well as details on: technical aspects that were being examined in the questions whether candidates performed well or poorly what parts of the questions caused difficulty and, if possible, what caused problems eg lack of knowledge, poor examination technique etc. Examiners' approach This article details the examiners' approach to marking the exam. It provides helpful insight into how you should answer the questions and what will be asked in the papers. Technical articles Paper P2 of the ACCA Qualification covers International Financial Reporting Standards (IFRS), so most technical articles for P2 are relevant to the Diploma in International Financial Reporting (DipIFR). Reading these articles will provide you with a broader understanding of the Diploma's syllabus areas and exam approach. The only technical articles which are not relevant to DipIFR are those relating to the following: syllabus updates for P2 complex groups foreign subsidiaries group reorganisations. View these technical articles by clicking on the Technical articles link in the Related links list on the left-hand side of the page. Important dates You can apply for the Diploma in International Financial Reporting (DipIFR) at any time, but if you want to sit exams at a specific exam session, we will need to receive your registration form and copies of all your supporting documents at least 20 days before for postal applications and 10 days before for online applications. the following closing dates: 8 April for the June exam session 8 October for the December exam session FEES Your initial registration fee includes one exam attempt. A further fee is charged for any resit. The initial registration fee for December 2013 is £195 and includes one exam attempt, the same fee in June 2014 is £205. Re-sits are charged at the same price as the initial registration fee above. You can apply for the Diploma in International Financial Reporting (DipIFR) at any time, but if you want to sit exams at a specific exam session, we will need to receive your registration form and copies of all your supporting documents at least 20 days before for postal applications and 10 days before for online applications. the following closing dates: 8 April for the June exam session 8 October for the December exam session If you wish to request a change to exam sessions and centres, you will need to do this online and by above-mentioned dates. .