FAQs on the ACCA DipIFR (Diploma in IFRS) Exam
Last Update On 5th February 2025
Duration: 4 Mins Read
The ACCA Diploma in International Financial Reporting (DipIFR) is a specialized qualification designed to help accounting professionals enhance their knowledge and skills in the area of International Financial Reporting Standards (IFRS). It provides a thorough understanding of how to apply IFRS in the preparation and interpretation of financial statements, making it a valuable credential for anyone working in finance, accounting, or auditing, particularly in organizations that follow global accounting standards.
This blog aims to provide the answers to some of the frequently asked questions about the ACCA Diploma in IFRS (DipIFR). Through this blog, you will be able to get helpful insight on registration requirements, exam rescheduling, and Zell’s expertise on the subject matter.
Frequently Asked Questions (FAQs) on ACCA DipIFR Exams
Where Can I Find Learning Resources for the DipIFR Qualification?
To successfully qualify for the ACCA DipIFR exam, it is important to have access to the proper study materials. You can find several third-party or official resources for study purposes. The ACCA website provides a variety of study resources such as syllabi, study guides, and even exam papers. Along with the official website, you can find excellent coaching institutions such as Zell Education, Kaplan, and BPP, which will provide you with the needed academic resources.
How Can Candidates Prepare Effectively for the DipIFR Exam?
No success can be achieved without the right preparation. Successful completion of the ACCA DipIFR exam can also be achieved by effective preparation on the subject matter. The first and the most obvious step in the preparation of the ACCA DipIFR exam is reviewing the ACCA course subjects, which will help you to understand the key topics such as financial reporting, the application of IFRS standards, and the preparation and interpretation of financial statements. Once the reviewing of the syllabus is done, you need to prioritize understanding the practical understanding of the application of these standards.
Effective preparation for the exam can be done through practice with past papers. You can also prepare yourself well with the help of mock tests that will provide you with a simulation of the real-time exams.
What is the timetable for the ACCA DipIFR Exams?
ACCA DipIFR exams are typically held twice a year: once in June and once in December. These exams are generally held across the globe. However, the candidates have the freedom to choose their preferred exam dates. The candidate would just have to be cautious about the deadlines of registration. The registration for each exam cycle opens several months in advance, allowing candidates ample time to prepare.
Examiner’s preference on measurement of goodwill?
Goodwill in financial reporting is a common question for DipIFR candidates. However, the ACCA examiners prefer full measurement of goodwill in line with FRS 3. Under IFRS 3, goodwill is measured as the excess of the cost of the acquired business over the fair value of its identifiable assets and liabilities at the acquisition date. However, candidates should be prepared to discuss both methods (full and partial) if the scenario in the exam requires it, though full measurement is typically emphasized.
How many papers and what is the exam format for DipIFR?
There is only a single exam paper in the ACCA DipIFR exam. It is a written exam of three hours long. The exam contains both MCQ and scenario-based questions. Successful completion of this exam would test the technical as well as the practical knowledge of the candidate. The long-form questions generally require the candidate to carry out detailed calculations and explanations, which are marked out of 100 points.
What type of questions are asked in the ACCA DipIFR exam?
The question pattern of ACCA DipIFR includes both short-term and long-term questions that generally revolve around the fact that IFRS standards can be applied to real-life scenarios. The questions aim to test your practical ability to interpret and apply IFRS to various business situations, so make sure you practice applying theoretical concepts in practical scenarios.
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How Are ACCA DipIFR Exams held?
The ACCA DipIFR exams are generally held twice a year: June and December. The duration of the exam is three hours long, which includes both multiple-choice questions and constructive response questions. The exam tests your ability to apply International Financial Reporting Standards (IFRS) to various scenarios, so it is important to have a solid understanding of IFRS as well as practical accounting knowledge.
How long does it take to prepare for the DipIFR Exam?
Preparation time for DipIFR exams depends upon your existing knowledge of financial reporting on IFRS. Generally, 3 to 4 months is required for the average student to complete its preparation. However, if you have prior knowledge or understanding, it will take less time.
What documents are required for the DipIFR registration?
When registering for the DipIFR exam, you will need to submit the following documents:
Proof of identity: A government-issued photo ID (like a passport or national ID card).
Proof of qualifications: You may need to submit your academic qualifications to ensure you meet the entry requirements for the exam.
ACCA student registration number (if you’re already registered with ACCA).
It’s important to verify the exact requirements with ACCA before registering, as requirements may vary slightly depending on your location.
In which cities are the ACCA DipIFR Exams held?
Some of the key cities where DipIFR exams are usually held include major financial hubs like:
- London
- Dubai
- Singapore
- New York
- Mumbai
- Kuala Lumpur
Check the official ACCA exam centre locator on their website for the most accurate list of exam locations for your specific region.
How Can Zell Education Help Me with DipIFR Exams?
Zell Education can assist in your preparation for the ACCA DipIFR exams in several ways:
- Comprehensive Training: Zell offers classroom and online training tailored to the DipIFR syllabus. They provide expert instruction that focuses on key IFRS concepts and exam strategies.
- Study Materials: Zell provides comprehensive study materials, including notes, practice questions, and mock exams, to help you prepare effectively.
- Expert Faculty: Their instructors are experienced professionals in financial reporting and IFRS, and they can help you understand complex concepts with clarity.
- Focused Preparation: Zell helps create a structured study plan and ensures that you focus on the most important topics to maximize your chances of passing.
- Personalized Support: If you need extra help, Zell offers one-on-one guidance and feedback on your performance in mock exams.
If you’re aiming for a solid and structured approach to the DipIFRS certification exam, Zell Education’s resources and coaching could provide significant value and help you achieve your goal.
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