How to Pass the IFRS Exam with 1 Month Left

How to pass IFRS exam with just 30 days left to go might appear intimidating, but with the right plan, it’s well within reach. It all comes down to familiarising yourself with the type of exam, deciding key areas, and following a systematic approach to study. Focus, discipline, and continuous work can all be game-changers in the sense of clearing the exam successfully.

What Is the Format of the IFRS Exam?

It is useful to obtain a clear idea of the structure of the exam prior to beginning your studies. The IFRS exam will test your theoretical knowledge and your ability to practically apply international accounting standards to various business scenarios.

Most candidates take the IFRS online exam, so experience of computer-based testing is relevant.

• The exam is usually computer-based and offered through secure web-based systems.
• You will be asked scenario-based case questions and multiple-choice questions (MCQs).
• Length takes between 90 and 120 minutes depending on the awarding body of the exam.
• The pass mark will typically be in the 50% to 70% range, depending on the awarding body.

Which Key Topics Are Covered in the IFRS Exam?

For you to learn how to pass IFRS exam, you are supposed to focus on areas that are more dominant. These are the pillars of international reporting and are thoroughly tested.

• IFRS 15 (Revenue Recognition): Focus on contract identification, performance obligations, and revenue timing.
• IFRS 16 (Leases): Know how lessees and lessors account for leases, including right-of-use assets.
• IFRS 9 (Financial Instruments): Covers classification, measurement, impairment, and hedge accounting.
• IAS 36 (Impairment of Assets): Be able to calculate a recoverable amount and apply impairment tests.
• IFRS 10 (Consolidated Financial Statements): Understand control, subsidiaries, and consolidation adjustments.
• IAS 1 (Presentation of Financial Statements): Know what goes into P&L, OCI, and SOFP.
• You should also understand IAS 2 (Inventories), IAS 12 (Income Taxes), and IFRS 13 (Fair Value).

How Long Is the Exam, and What Is the Question Pattern?

Knowing the duration, IFRS exam details,  and the format of the questions will assist you in preparing more effectively and in managing your time more carefully during the exam. Candidates underestimate how fast the time passes during the IFRS online exam.

• Expect 40 to 50 MCQs to assess technical knowledge and application in practice.
• There are 2 to 3 case-based questions that are more lengthy and application-based in nature.
• There may be some tricky questions that are designed to test your ability to discriminate between similar standards.
• There are no standardised questions; the subject integrates in ways to reflect situations in life.
• The exam duration for IFRS is normally between 1.5 and 2 hours.
• The key to successful time management is not more than 90 seconds per MCQ.
• In the last few minutes, review flagged questions, especially computation-based ones.

What’s the Best 1-Month Strategy to Prepare for the IFRS Exam?

With limited time, your preparation strategy must be smart but not intense. Learning how to pass IFRS exam in 30 days depends on maximising productivity through schedule-based objectives.

• Divide the 30 days into 4 weekly phases for IFRS exam details—Learn, Practice, Revise, and Last Stretch.
• Daily goals: 2–3 problems or a typical problem per day, depending on difficulty level.
• Use a mix of video lectures, study guides, and practice questions.
• Make it a habit to try at least 15–20 MCQs after each study session.
• Monitor your weekly improvement and pinpoint areas that are weak for intense correction.
• Make use of Internet forums, study groups, or mentors if you are stuck.
• Be regular at a specific study spot and schedule to cultivate discipline.

How Should You Plan Week by Week?

A planned weekly schedule makes IFRS exam details preparation possible and trackable. Here’s a potential breakdown:

• Week 1: Revision of key standards: IFRS 15, IFRS 16, IAS 36, and IAS 1. They are high-weightage areas.
• Week 2: Focus on IFRS 9, IFRS 10, IAS 12, IAS 2, and IFRS 13. Practice MCQs on each.
• Week 3: Attempt two full-length mock exams and revise mistakes. Focus on weak topics.
• Week 4: Review summary notes, flashcards, and attempt one final mock. Focus on speed and accuracy.
• Keep weekends for solving past papers and reviewing difficult concepts.

How Can You Manage Your Daily Schedule Effectively?

Daily scheduling is useful in situations where you are operating under a time constraint. Effective time blocking will ensure that you are regular and reduce mental stress.

• Spend 3–4 hours a day; break it up into two focused 90-minute blocks.
• Use mornings to learn a new topic and evenings to practice MCQs.
• Employ the Pomodoro technique (study for 25 min + 5 min break) in order to avoid burnout.
• Restrict passive reading; that is, make some notes yourself or lecture on the subject yourself to recall more effectively.
• Practice your flashcards every day at bedtime to reinforce memory recall.
• Daily monitoring of completed track work with a checklist in standard coverage.

How to Balance Work and Study if You’re Working?

For working professionals, how to pass IFRS exam with a regular employment schedule is challenging. Yet with mild effort at periodic intervals, it’s absolutely possible.

• Wake up one hour sooner to review when you are alert and feeling fresh.
• Use break periods to review flashcards or listen to compact IFRS exam details topic videos.
• Dedicate evenings to practicing through practice questions or to learning IFRS exam material.
• Do not pledge yourself to other engagements during these 4 weeks.
• Use weekends to read thoroughly and to practice tests.
• Discuss your schedule with family members or coworkers so that they can assist with your focus time.

Curious About How to Pass the IFRS Exam with 1 Month Left?

Inquire More!

What Are Effective Revision Techniques for IFRS?

Revision is where there is retention. Revision must be active, selective, and at appropriate spaces to experience success in the IFRS exam.

• Work with IFRS full form Standards learnt and not with any others.
• Use mind maps to connect between standards (e.g., IFRS 9 to IFRS 7).
• Create flashcards for journal entries, formulas, and key definitions.
• Practice previous years’ questions to get familiar with the pattern of the IFRS exam.
• Explain it to someone else or say the logic out loud; it solidifies the memory.
• Prepare one-page summaries for each standard to review the night before the exam.

Which Standards Should You Focus on Most?

Not all are equally tested. First, prioritise the ones that are most frequent in previous examinations and are more heavily weighted.

• IFRS 15, IFRS 16, IFRS 9, and IAS 36 are consistently featured.
• Find out how to identify performance obligations in revenue agreements.
• Lessee and lessor master lease accounting journal entry requirements.
• Know impairment calculations and disclosures related thereto.
• financial instruments classification, amortised cost versus fair value review
• Do not overlook IAS 1; there are often questions based on presentation rules.

Why Are Mock Exams and Past Papers Important?

Practice under examination conditions is utterly invaluable if you are to pass.

• Practice the computer-based IFRS exam with mocks with a timing factor.
• Use past exam questions to identify areas that are frequently covered.
• Refer back to mistakes and develop a “mistake log” to avoid future reproduction.
• Practice at least 3 full-length papers prior to the exam day.
• Use outcome analytics (where available) to focus efforts to revise poor standards.

How Can You Use Flashcards, Summaries & Visual Aids Effectively?

Visual learning aids help to reinforce thoughts in a shorter timeframe and are especially useful in the final few weeks of how to pass IFRS exam. They reduce cognitive load and achieve maximum retention of IFRS requirements.

• Create flashcards for formulas, journal entries, and definitions in the IFRS course content.
• Use colour-coded summaries to emphasise differences between IFRS and IAS standards.
• Construct mind maps to connect related standards like IFRS 15 and IAS 18.
• Use visual cheat sheets that are offered through reputable IFRS exam sources.
• Practice 10–15 flashcards every day to build long-term recall.

What Are the Best Ways to Stay Motivated and Exam-Ready?

Preparation in one month for a professional exam requires mental endurance and consistency. Motivation all through this period is no less important than technical knowledge.

• Set weekly goals and reward yourself after achieving goals.
• Keep clear reminders of why you want to pass the IFRS exam in your career.
• Practice in short, effective sessions and not in long, exhausting marathons.
• Join an IFRS online exam study group or accountability partner to keep you in check.
• Use motivational success stories or testimonials of other IFRS course candidates.

How Can You Manage Exam Stress?

Stress will undermine concentration and reduce information retention ability. Management of stress is crucial to performance, especially in final days.

• Practice quick breathing exercises or exercise mindfulness before and after periods of study.
• Stick to a routine schedule of sleep; your exam results will suffer with lethargy.
• Practice the web-based IFRS exam at least once to reduce fear of the unknown.
• Do not cram the night before; instead, review light summaries or flashcards.
• Drink plenty of water, have light and balanced meals, and take frequent short walks to maintain energy.

What Should You Include in a Final Week Preparation Checklist?

Your final week of preparation should be devoted to reinforcement and not to learning new work. An overall checklist of IFRS exam details will save you last-minute panic and make you exam-ready.

• Practice all the basics of the IFRS exam: norms, patterns, and types of questions.
• Take at least one complete-length practice exam and go through your mistakes.
• Go through your one-pagers and flashcards and glance through quickly the night prior.
• Get your system settings (camera, mic, browser) ready for the IFRS online exam.
• Confirm the date, time, and entry information with the organiser of the exam.

Planning to IFRS Accounting Career?

Click Here

To Book Your Free Counselling Session

Final Thoughts: Is 1 Month Enough to Pass the IFRS Exam?

Yes, with the right preparation plan, attitude, and self-control, it is possible to learn how to pass IFRS exam in one month. Some successful candidates have done this with determination and the assistance of effective strategies of study.

• Practice smart, not long. Systematic practice is more valuable than long practice. 
• Read the IFRS exam details precisely and emphasise high-weightage sections. 
• Use active revision tools like mocks and flashcards to make learning stick. 
• Maintain momentum and keep exam-day anxiety at bay through preparation.

FAQs on How to Pass the IFRS Exam with 1 Month

Can I pass the IFRS exam in one month of preparation?

Yes, with a schedule of studies, around 100–120 hours of hard work in a continuous manner will suffice to clear in 30 days.

Which topics are most important for the IFRS exam?

Pay more attention to IFRS 15, IFRS 16, IFRS 9, IAS 36, and IFRS 10. They are most examined in the IFRS exam material.

How many hours should I study daily to pass in 30 days?

Aim to study 3–4 hours daily, with increments on weekends to 5–6 hours for practice tests and revision.

Are mock tests crucial for IFRS exam preparation?

Yes. They familiarise themselves with the computer-based exam platform of IFRS and areas where they are weak to improve.

Partham Barot is an ACCA-certified professional. showcasing his expertise in finance and accountancy. he’s revolutionising education by focusing on practical, real-world skills. Partham’s achievements underscore his commitment to elevating educational standards and empowering the next generation of professionals.

Current Role

Co-Founder & CEO at Zell Education

Education

• ACCA – Association of Chartered Certified Accountants, Finance (2011 – 2014)
• Bachelor of Commerce (BCom), Financial Markets from H.R. College Of Commerce & Economics (2010 – 2013)

Location

Mumbai, India

Expertise

ACCA Certified