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All About Diploma in IFRS by ACCA All About Diploma in IFRS by ACCA

1 month ago

Pratham Barot

India, having adopted Ind-AS and IFRS, has made it imperative for all Chartered Accountants and other Finance professionals to ensure they are well-versed with the International Financial Reporting Standards (IFRS). 

 

The #1 qualification in the world is the Diploma in IFRS by ACCA (DipIFRS). In India, it is the most sought after IFRS course. India has had the largest number of examination takers in the world in the last few years, with more companies seeking validation of each professional’s updated knowledge base. Many consider it the same as the IFRS course by ICAI, and ICAI does not provide an IFRS separate course. 

 

IFRS Course Registration

 

If you are a qualified Chartered Accountant or have 2 years relevant experience, you can apply for the DipIFRS qualification.

 

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:


  • 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)

  • Two years‘ relevant accounting experience and an ACCA Certificate in International Financial Reporting

  • Three years' relevant accounting experience

  • ACCA affiliate status

 

Source: https://www.accaglobal.com/in/en/qualifications/glance/dipifr/who.html

 

IFRS Course Syllabus

 

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.

Paper Pattern

 

The examination is assessed by a single three-hour, 15 minute written exam. You will need to achieve 50% or above to complete the paper. The exam is held twice a year - in June and December at ACCA's exam centres. The exam is split into 4 x 25 marks questions. 

The duration of this IFRS course is 6 months.

 

Scope of DipIFRS

 

The scope for Diploma in IFRS in India has been increasing tremendously over the last few years. Candidates are hired in the best of companies such as PwC, Deloitte, KPMG, EY, Grant Thornton, BDO, etc. With the advent of Ind-AS and IFRS, there is an ever increasing need for candidates in the Indian economy to understand and implement IFRS. 

 

Exam Dates & Fees

Exam Date: December 11, 2020 (tentatively)

Training Fees: ₹24,000 plus taxes 

The above fees includes the training for the DipIFRS examination, tests & mock exams, 100% placement assistance, registration assistance, and most importantly - exclusive DipIFRS trainers.

Fees paid to the ACCA body:

Exam fees: £117

Registration fees: Waived off by Zell Education (from £89)

Study Material: ₹3,000